Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Success blooms for Tropic Skincare as profits soar under Susie Ma’s leadership

by September 25, 2024
September 25, 2024
Success blooms for Tropic Skincare as profits soar under Susie Ma’s leadership

Tropic Skincare, the beauty brand founded by The Apprentice finalist Susie Ma, has reported a 28% rise in profits, reaching £6.7 million, despite a 4% drop in sales to £62.3 million.

Ma, who reclaimed full ownership of the company last year by buying back the 50% stake sold to Lord Sugar in 2011, attributed the profit boost to strategic cost reductions, including negotiating better supplier deals and cutting stock levels by £1 million.

At 35, Ma is now the sole shareholder of Tropic, with a personal net worth estimated at £73 million. The company paid an £11 million dividend to shareholders in 2023, up from £6 million the year before, as it continues to grow under her direction. Tropic manufactures almost all its products daily at its factory in Croydon, Surrey, and Ma expects revenues to rise further this year as the company invests in new products, software, and manufacturing equipment.

Tropic also continues to uphold its commitment to charitable causes, donating 10% of its profits. In 2023, the company contributed £444,674 to United World Schools, supporting education in impoverished communities. It has funded schools in Nepal, Cambodia, and Madagascar, with its fourth school opening by the end of the year.

The brand, which sells through more than 20,000 part-time ambassadors, offers them a commission of up to 35% on sales and charges no ongoing fees after an initial starter kit purchase. This flexible business model has helped Tropic thrive, even as the landscape for female entrepreneurs remains challenging.

A report from the Treasury-backed Invest in Women Taskforce revealed that all-women founding teams received just 1.8% of venture capital funding in the first half of 2024. However, separate research by JP Morgan Private Bank shows that fast-growing, women-led companies like Tropic Skincare and Starling Bank now make up nearly 30% of the total in 2024, a significant rise from 18% in 2021.

Read more:
Success blooms for Tropic Skincare as profits soar under Susie Ma’s leadership

0
FacebookTwitterGoogle +Pinterest
previous post
Trump briefed on ‘real and specific threats’ from Iran to assassinate him, campaign says
next post
Budget 2024 predictions: potential announcements from Rachel Reeves

You may also like

Arrival, one of UK’s most exciting electric auto...

October 21, 2022

UK tech sector retains third in the world...

December 21, 2022

Management team incentivisation and selling your business

June 5, 2024

What do SMEs in the UK Need to...

October 10, 2024

Revolut’s earliest crowdfunders set to pocket life-changing returns

December 17, 2024

Shrinking workforce limiting UK economic growth, MPs warn

April 21, 2023

How Bojoko Expanded into the Bingo Vertical, An...

September 18, 2024

Brands warn UK must restore VAT-free shopping to...

April 28, 2025

UK recession still on the cards after aggressive...

March 27, 2023

Generative AI Set to Disrupt Jobs and Widen...

June 18, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Omaha city councilman mounts bid to succeed outgoing House Republican Rep. Don Bacon

      July 3, 2025
    • Frasers Group secures potential £3.5bn war chest to fund growth and acquisitions

      July 3, 2025
    • Roomix raises £850k to expand family-focused custom furniture platform

      July 3, 2025
    • House advances Trump’s massive agenda bill after fiscal hawks cave

      July 3, 2025
    • Technological Innovation: How are Greece and the UK Leading the Way?

      July 3, 2025
    • Trump turns to Supreme Court in fight to oust Biden-era consumer safety officials

      July 3, 2025

    Categories

    • Business (8,368)
    • Investing (2,094)
    • Politics (15,923)
    • Stocks (3,187)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved