Culture-Led
Early stage or heritage brands rooted in popular culture via sports, music or entertainment.
SPICE Brands brings capital and operational excellence to businesses at the intersection of fashion, beauty, lifestyle and popular culture.
About
SPICE Brands is an investor in early-stage brands on an upward trajectory — or heritage brands waiting to be scaled up — across fashion, accessories, beauty, wellness and entertainment. We believe in brands at the intersection of the traditional fashion and beauty sectors with entertainment, music and sports.
Leveraging our industry know-how, international exposure and network, as well as our deal-making experience in various environments, we aim to build a portfolio of culture- and data-driven businesses led by strong, visionary management teams.
We actively collaborate with portfolio companies, providing strategic, financial, and operational support to accelerate growth and achieve long-term success. We place particular emphasis on brand building and customer data from an early stage — to help build differentiated, customer-driven, resilient brands for the future.
We favour an industrial approach, with longer-term investment horizons, a hands-on approach via central strategic services and synergies between portfolio companies.
Past collaborations include the following brands, for illustration purposes only.





Criteria
We partner with brands which can thrive within the SPICE operating platform around a shared growth ambition.
Early stage or heritage brands rooted in popular culture via sports, music or entertainment.
Premium to luxury brands & IP in fashion, beauty, lifestyle. UK, France, Italy.
SPICE aligns on strategy before investment. We aim to identify clear value creation avenues where we can have an impact.
SPICE takes control or strong minority positions with a clear path to control.
Post-revenue to £50m turnover.
Deal sized vary. We aim to adequately capitalise portfolio companies for sustained growth.
Founder

Tugba spent more than 25 years investing in, building and exiting culture-led consumer brands across fashion, beauty and lifestyle, from mass to luxury.
Over more than 30 transactions she has covered the full lifecycle of a brand: incubation, fundraising, secondaries and landmark exits. She was an M&A banker, a family office investor at Fung Capital Europe and Bidayat, an Alsara company. She has invested in iconic brands such as Cerruti, Kent & Curwen, Walter Albini and Azza Fahmy. She was a Founding Partner of FRAME and Good American, two high growth brands who defined the early stages of influencer brands. She has teamed up with some of the most ambitious category-defining businesses such as Dr. Barbara Sturm, LYMA and With Nothing Underneath. She partners with brands from £0-100m in revenue to take them to a semi-institutional level and create outstanding shareholder value.
Tugba pairs a dealmaker's discipline with sharp operational acumen. She is a hands-on, target-driven leader who focuses on where product excellence meets cultural relevance. SPICE Brands is built on that record of building, scaling and exiting differentiated, culture-led consumer brands.