The six weeks before Christmas generate one-third of annual revenues for Neom Wellbeing, the company launched by Nicola Elliott in 2005. The former journalist, 47, started the business from her kitchen, making five aromatherapy candles with natural wax and essential oils.

Since then, Elliott has expanded her product line to more than 150 home fragrance products, ranging from bath and body essentials to reed diffusers and skincare. Turnover is £45mn (as of June 2025), with 700,000 candles sold, compared with £300,000 from sales of 10,000 candles in 2006. Piper private equity joined as a minority shareholder in 2017.

As founder, Elliott remains at the forefront of the brand, creating new trends and testing the latest wellbeing essentials. Bestselling products include the Wellbeing Pod, Magnesium Body Butter and Perfect Night’s Sleep Pillow Mist.

Based in Harrogate, the company has about 150 employees. Overseas markets, mainly US and Europe, account for just over 10 per cent of total revenues, but are growing fast. 

CV

Born: Leeds, December 7, 1977

Education: 1988-94: Leeds Girls High School

1994-96: Harrogate Grammar School: A-levels in art, English and French

1996-99: University of Northumbria, BA History of Art

July 2025: Honorary Doctorate (Doctor of Civil Law), University of Northumbria

Career: 

2000-1: Heat magazine, London

2001-04: Feature writer, Glamour magazine

2004: Journalist, In Style

2005-06: Associate editor, Glamour magazine

2005: Launched Neom Wellbeing

Lives: Divides time between London’s South Bank and Harrogate, with partner Jon Holt, chief executive of KPMG in the UK. From her first marriage she has children Charlie, 17, and Alexa, 15.

Did you think you would get to where you are?
Kind of, yes. I always had an ambition for Neom to be a big, well-recognised beauty brand. At school, my choices were limited. I was rubbish at most subjects, apart from English and art, but I was a self-starter.

My mother did not work, but my dad owned a car auction business. He loved his work, and very much championed me going into business. He was a strong influence. My sister and I were hard-working kids. Standards were high. If my homework was not presented properly my father would score a line through it and I would have to do it again.

I was quite good at being cool, following clothes and places that were on trend. Magazines were the media where you learned about these things. My fashion confidence and creativity, combined with my dad’s aspiration, led me to working in London for a glossy magazine.

How useful was a background in journalism?
I could not have done what I did without having been a journalist, because I learnt what trends and products resonated with women and why. I believe I understood what they wanted, how they were thinking, what they were feeling, what they were buying, how they were behaving and what turned them on. That was a skill I honed working on magazines. You are so forward thinking in the women’s magazine world that you become good at spotting trends well in advance.

I started Neom in 2005 and there was a crossover. For 18 months I spent every spare moment devising the new company. I dropped my days at Glamour magazine to four days a week and spent the other three days working on Neom. I did an online aromatherapy course and a lot of research, working with a fragrance house and a number of aromatherapists outside London.

Our suppliers have always been crucial, because you have to learn from others, like the people who blended the wax for us. I develop a reasonable basis of knowledge myself, then work with people who know an awful lot more than me. Everyone at Neom is better than me at their skill. The entrepreneurial skill is to be able to defer to other people’s expertise.

Why did you start the business?
Twenty years ago, there was no wellness industry and people were too busy working to look after themselves. I, too, was focused on my job. Where I lived in Islington there was just one health food shop. Like so many other twenty-somethings at the time I was burnt out from working long hours and had no idea how to look after myself — the twenty-somethings of today are well educated about healthier lifestyles.

Initially, I had a business partner [Oliver Mennell, who stepped down as chief executive in 2023 and is now non-executive chair]. We cobbled together £15,000 between us. I sold my car for £7,500 to fund my share.

Which wellbeing concerns are people most worried about today?
Stress and sleep. People are more stressed than ever before and sleep quality across the demographics is poor. We create more than half of our products to help with these issues. I get amazing testimonials every day from people who have gone through challenging times and how our products have helped them, such as Magnesium Bath Milk and the Real Luxury Candle, with 24 essential oils, that I created to ease my own anxiety.

What was the most challenging period of your career?
The early days of motherhood, because we had very little money. I missed London, and I did not know whether Neom was going to be a success or not. My days were crazy at home and at work. By the time we moved to Harrogate I had five staff, but I was flat out doing everything: creating products, hiring staff, visiting warehouses and designing packaging. I officially worked three days a week, but would keep going right into the night. With two young children, it was a juggle.

What was your toughest personal finance decision?
I sold my house in Richmond, Surrey, in the 2008 crash for less than I bought it for. I had just had my first baby and could not afford to live in London. To grow a business takes a lot longer to make money than you think, as it requires cash. Sometimes you must choose between supporting the business or your personal situation. It was not possible to take a bigger salary at that time.

I had to be up north to get free childcare from my mum. We had the tiny terrace house [in Surrey] for two years and it cost £800,000. We sold the place for £750,000 and were able to buy a four-bedroom house in Harrogate for £400,000 as well as secure free childcare. We had a mortgage on the second house, but it was just about manageable. Everything was cheaper in the north, from mortgage payments to supermarket shopping. I have an apartment near the South Bank, but I do miss London hugely.

Do you have a pension?
I never had a pension until I started my own business at 28. I have the same pension scheme as my staff. As an entrepreneur you typically need to prioritise your business over everything else. It is all about forward thinking, so the business is primarily my pension.

Are you good with personal finance today?
I think I’m quite good. I have children, so I feel responsible for making sure there is always a plan b and plan c in life. I am aware that things can go wrong. I have a cash Isa, but I’m not so good that I constantly track interest rates. I like to opt for safety and I’m not extravagant. I have savings and I have property. I keep an eye on both business and personal cash flows.

What unexpected bonuses have you enjoyed since starting the business?
It has grown a lot bigger than I ever thought it would. I have met amazing people. I still get the same buzz out of creativity as I did 20 years ago, from dealing with photo shoots and campaigns to packaging and new products.

I am comfortable enough to indulge in a few luxuries, like keeping two horses and taking my daughter on the odd shopping spree in London. The horses are a wonderful bonus of living in the north that I could never have hoped for in London.