Holly Willoughby may have the golden touch on screen – but that apparently doesn’t apply to the business world.
Her lifestyle brand Wylde Moon has just filed its first set of accounts… and they show she only has assets of £149. That’s enough to buy a few of their candles or three small bottles of their signature perfume, The Wild.
Microaccounts show assets are over £283,000 but creditors are owed £310,000.
The accounts also show that “Mrs Holly Baldwin”, Willoughby’s married name, received an advance of £46,000 from the firm in the year to October 2022.
Holly, 42, launched her Goop-esque lifestyle brand in September 2021 and currently sells candles and perfume. The perfume was launched in February this year with a swanky event at the London Palladium.
Mixed fates: Holly Willoughby may have the golden touch on screen – but that apparently doesn’t apply to the business world
In the red: Her lifestyle brand Wylde Moon has just released its first balance sheet… and it shows she only has assets of £149
There are decidedly mixed reviews for the scent on their own website. Some disappointed shoppers said it was “absolutely terrible”, “very disappointing” and noted the “cheap packaging”.
The site includes beauty and style tips as well as a spirituality section advising readers about crystals, healing and auras.
The TV presenter said the idea of starting her own lifestyle brand came to her in 2018 while co-hosting I’m A Celebrity with Declan Donnelly in Australia. She said: “I have always been fascinated by the moon, space, shooting stars and looking up.”
“When I’m on holiday, I spend more time on the sun lounger at night than during the day.” “The moon is always there – like the sun – no matter where you are in the world.”
She added: “I had lost a part of myself and this rediscovery has brought me here, to a whole new place full of beauty and power.”
In 2018, she almost launched a lifestyle website with her former pal Peter Jones, the star of Dragon’s Den.
Jones was left high and dry after Willoughby decided she didn’t have time to devote to her new lifestyle brand Truly – just weeks before it was due to launch… with Holly as the face.
At the time, Holly said: “Launching a brand takes total commitment and at the moment, with so many other commitments, I don’t think I can do that without it affecting my family time at home .”
Passion Project: Holly launched her Goop-esque lifestyle brand in September 2021 and currently sells candles and perfume
Wellness: The site also includes beauty and style tips, as well as a spirituality section that advises readers about crystals, healing and auras
Jones and his interior designer partner Tara Capp, 48, continued with the online shop, which launched in 2018.
In an interview, Capp said of Willoughby’s decision: “I’m not going to fake anything.” It was devastating. We were exceptionally close. And of course as a company you feel the loss of a prominent face.’
Truly Group’s annual financial statements, filed in April this year, are sobering. The company owes £1.4 million – a huge rise compared to last year when it owed its creditors £653,000. Net worth is just £216,000.
The accounting documents confirm that there is “significant uncertainty” about whether things can proceed, but also say that as of April 26, creditors “have confirmed that they have no intention of proceeding for a period of 12 months from to demand repayment from companies.” ‘
The notes also say that Truly’s so-called beneficial owner (presumably Jones, who is worth £450 million) has confirmed that he intends to provide the company with the necessary financial support “for up to 12 months.” ‘.
Jones and Capp note that online sales increased 10.7 percent through April 2022 and say, “We’re excited about the new opportunities we continue to explore.”
Reveal: The TV presenter said the idea of starting her own lifestyle brand came to her in 2018 while hosting I’m A Celebrity… Get Me Out of Here! in Australia.
Moving on: Dragons Den star Peter Jones was left at a loss in 2018 after Holly decided she didn’t have time to devote to her new lifestyle brand Truly – weeks before it launched
Statement: Holly took to Instagram to make the announcement, telling her followers that she was unable to dedicate the time required to the brand
The lifestyle website was invented by Capp and Willoughby during a family vacation in Barbados at the Capp-Jones Villa when they were still best friends.
Jones and Willoughby’s husband, Dan Baldwin, were also close – their relationship predated that of their wives – and Jones once held a 40 percent stake in Baldwin’s television company, Hungry Bear Media.
The plan for Truly was that Holly would take the lead, Tara would handle procurement and design, and Jones would be chairman.
The hope was that all three would be earning around £10 million each in a few years. Instead, Jones was “angry” and the friendship was in tatters.
In 2019, Jones stepped down as director of Hungry Bear.
Capp said in 2020 that she and Holly were no longer friends, but added, “I will always thank her because working together gave me the confidence to start my own business.”
Holly also moved into self-help and spirituality, writing Reflections (one critic called it “the most banal self-help book ever written”).
She abandoned the YMU agents she shared with Jones and fought for a “sunset deal” that would have allowed them to profit from commercial deals struck while representing her. She now represents herself through the company Roxy Media.
Actress Gwyneth Paltrow founded the wellness and lifestyle company Goop in 2008, initially as a weekly email newsletter offering advice.
It has since grown into an e-commerce giant, selling cosmetics, groceries, clothing, home goods, skin care, and more. The company was valued at $250 million.