Jenna Meek, chief executive and co-founder of beauty brand Refy, said they turned down a £15m contract to expand in the Middle East to refine and focus the business.

Jenna Meek

Source: Gomes Photography

Speaking at LIVE 2024, Meek said: “We want to be the number one brand in Sephora in the US and we are not going to get there if we start to expand into Europe and doing a bit in the Middle East.

“We’ve got to focus and it’s going to be harder. We can make double our revenue tomorrow, if I just want to take the easy route. But I think it’s about having that discipline and just really standing strong.”

The co-founder of the disruptive beauty brand said: “It’s so exciting because we are growing so fast. We’ve got an opportunity in the Middle East, in Europe, we’ve got an opportunity everywhere. And my role at the moment is turning that opportunity down.

“We turned down a £15m contract [in the Middle East] just to refine and focus.”

The brand grew to £24.2m in sales in 2023, up from £11.2m in 2022. Refy launched in 2020 and has grown rapidly since then, gaining a huge following on social media platforms, including TikTok and Instagram