Can Holly Willoughby’s Wylde Moon be experiencing a complete downfall?
Holly Willoughby’s success on screen doesn’t seem to translate to the business world.
The lifestyle brand, Wylde Moon, has recently submitted its initial financial statements, revealing that it only possesses £149 worth of assets. This amount is sufficient to purchase a few candles or three small bottles of their renowned fragrance, The Wild.
The micro accounts show that there are assets worth more than £283,000, however, there is a debt of £310,000 owed to creditors.
The accounts also show that ‘Mrs Holly Baldwin’ which is Willoughby’s married name, took a £46,000 advance from the firm in the year up to October 2022.
Holly, 42, launched her Goop-esque lifestyle brand in September 2021 and it currently sells candles and perfume. The perfume was launched in February this year with a fancy event at the London Palladium.
Holly Willoughby’s success varies in different areas: she excels on screen but not in the business world.
In the red: Her Wylde Moon lifestyle brand has just filed its first set of accounts …and these show that it has a mere £149 in assets
On her website, there are varying reviews for the fragrance, with certain dissatisfied customers describing it as ‘absolutely awful’ and ‘very disappointing’, while also mentioning the ‘cheap packaging’.
The website offers guidance on beauty and fashion, as well as a segment dedicated to spirituality, providing insights on crystals, healing practices, and auras.
The TV host mentioned that she got the inspiration to start her own lifestyle brand in 2018 while she was in Australia co-hosting I’m A Celebrity with Declan Donnelly. She expressed her long-standing fascination with the moon, space, shooting stars, and stargazing.
During my vacation, I find myself spending more time on the sun lounger in the evening rather than during the day. The moon, similar to the sun, is always present regardless of your location in the world.
She stated: ‘I had lost a portion of my identity, and this rediscovery has brought me to a completely new realm of beauty and strength.’
In 2018, she came close to collaborating with her former friend, Peter Jones, a star from Dragon’s Den, to create a lifestyle website.
Jones was left in a difficult situation when Willoughby backed out of their plan to launch a new lifestyle brand called Truly, claiming she didn’t have enough time. This happened only a few weeks before the brand was scheduled to be launched, with Holly as its representative.
Holly expressed that she currently lacks the ability to fully commit to launching a brand due to her numerous other responsibilities. She believes that taking on this endeavor would negatively impact her quality time with her family.
Holly introduced her own lifestyle brand, similar to Goop, in September 2021. At the moment, her brand offers a selection of candles and perfumes for sale.
The website also provides guidance on beauty, fashion, and spirituality, including topics such as crystals, healing, and auras.
Jones and his partner, interior designer Tara Capp, 48, proceeded with the online shop despite any obstacles, and it was successfully launched in 2018.
During an interview, Capp expressed his feelings about Willoughby’s decision, stating that he cannot pretend and that it was truly devastating. He emphasized their close relationship and acknowledged the impact of losing a well-known figure on their business.
The accounts of The Truly Group, submitted in April of this year, present a concerning situation. The company’s debt has significantly increased to £1.4 million, compared to the previous year when it owed creditors £653,000. Its net assets are only £216,000.
The account notes recognize that there is a significant doubt regarding the company’s ability to continue operating. However, they also mention that as of April 26, creditors have stated that they do not plan to demand repayment from the company for the next 12 months.
The notes additionally mention that the individual considered to be the beneficial owner of Truly (presumably Jones, with a net worth of £450 million) has expressed his intention to offer the necessary financial assistance to the company for a duration of 12 months.
Jones and Capp report that sales for the online business have increased by 10.7% until April 2022 and express their enthusiasm for the ongoing exploration of new opportunities.
Revelation: The TV presenter said that the idea to launch her own lifestyle brand came to her in 2018 when she was in Australia hosting I’m A Celebrity… Get Me Out Of Here!
Moving on: Dragons Den star Peter Jones was left high and dry in 2018 after Holly decided she didn’t have the time to devote to their new lifestyle brand Truly – weeks before it was to launch
Holly made an announcement on Instagram, stating that she couldn’t commit enough time to the brand.
The lifestyle website was dreamed up by Capp and Willoughby during family holidays together in Barbados, at the Capp-Jones villa, back when they were best friends.
Jones and Willoughby’s husband, Dan Baldwin, also had a close relationship, which started before their wives’ relationship. At one point, Jones even had a 40 percent ownership in Baldwin’s television company, Hungry Bear Media.
The original plan for Truly involved Holly as the face of the company, Tara responsible for sourcing and design, and Jones serving as the chairman.
Jones was extremely angry and the friendship was completely ruined because the expectation was that each of them would earn approximately £10 million in a few years, but that did not happen.
Jones resigned from their position as a director of Hungry Bear in 2019.
In 2020, Capp stated that she and Holly were no longer friends. However, she expressed gratitude towards Holly for giving her the confidence to start her own business by working together.
Holly, on the other hand, also ventured into the realm of self-improvement and spirituality by writing Reflections. However, one critic harshly labeled it as “the most mundane self-help book ever published.”
She parted ways with the agents, YMU, that she had in common with Jones, and engaged in a dispute regarding a ‘sunset deal’. This deal aimed to allow her to profit from the commercial agreements that were made during the time when they represented her. Currently, she represents herself through the company Roxy Media.
In 2008, Gwyneth Paltrow, an actress, founded Goop, a company focused on wellness and lifestyle. It began as a weekly email newsletter offering advice.
It has since become an e-commerce juggernaut selling cosmetics, foods, clothes, homewares, skincare and much more. The company has been valued at $250 million.
