WIREDGOV

A Cardiff entrepreneur who started a premium online beauty retail business from his parents’ garage has expanded and moved to a new operational centre in Cardiff which will create 100 jobs with Welsh Government support.

Turnover of the company is expected to increase to over £40m in the next three years providing a stable environment for long-term job prospects for all of its new staff.
 
The move was backed by Welsh Government business finance and ensured the expansion went ahead in Wales and will create 100 jobs over the next two years and safeguard a further 20.
 
Escentual.com, which was started by Rakesh Aggarwal in 2000, has now moved to new premises at Ocean Park, Cardiff.
 
The new operational centre and headquarters is triple the size of their previous site in Cardiff. It will enable Escentual - which sells luxury cosmetics and fragrances from brands including Dior and Clarins - to increase the number of product lines from 5000 to 15,000 items.
 
Following the company’s rapid expansion in the past couple of years Escentual CEO Rakesh Aggarwal was offered several sites for relocation in central Europe but chose to stay in Wales.
 
Economy Minister Edwina Hart said:

“The growth of Escentual and the significant number of jobs the company is creating illustrates the important role that entrepreneurs play in the economy. With 15 years of trading on-line Escentual is one of the UK’s longest running beauty e-retailers and I am pleased its growth plans will be taking place in Wales with Welsh Government support.”

Recently the London Stock Exchange included Escentual.com in the list of 1,000 Companies to Inspire Britain. It was the only high-end beauty retailer to be included in the list. The LSE commended it for sustained revenue growth and profits in the past four years, having outperformed their sector peers – not just in terms of revenue, but in employee numbers and working conditions.
 
Rakesh Aggarwal said:

“The amazing support from the Welsh Government has been a key factor is the success of Escentual.com becoming one of the leading online beauty retailers in Europe. We have received financial support to grow long-term, assistance with finding our new larger premises in Cardiff as well as great planning advice.
 
“The company has also prospered due to the high quality staff that come from Cardiff in particular and Wales in general. I honestly don’t think we could have grown this quickly and consistently without the help of the Welsh Government and now we are set to employ over 100 people in Cardiff by 2017.”

In addition to growing its UK business, the Welsh Government’s international trade team is in discussions with the company to identify and develop growth opportunities within Europe – with the ambition to significantly exceed the £50m target within 5 years.
 
The company has a policy of recruiting locally, with all but one of its management team, graduates from Welsh Universities, while other team members have been recruited through the Welsh Government schemes including GO Wales and Jobs Growth Wales.