The parent company of Ipsy, Beauty for All Industries, has raised $96 million in a round led by TPG Growth.
Beauty for All Industries owns beauty subscription services Ipsy and BoxyCharm, as well as Addison Rae’s Item Beauty, Becky G’s Treslúce Beauty, Complex Culture and Refreshments.
Beauty for All Industries said it plans to use the money to develop its technology platform, expand retail distribution and grow internationally.
“Our next chapter will be focused on enhancing our technology and distribution offerings to bring even more personalized experiences to consumers, wherever they are, whether that is online, on their phone, or in stores,” said Marcelo Camberos, cofounder and chief executive officer of BFA.
BFA uses data from product reviews to create personalized beauty offerings for Ipsy and BoxyCharm subscribers, and to develop new brands aimed at filling white spaces.
TPG Growth initially invested in Ipsy in 2015. Since then the company has acquired BoxyCharm and branched into launching more of its own brands under its incubator, the Madeby Collective. That division is responsible for the launches of Complex Culture and Refreshments, as well as Item Beauty and Treslúce Beauty. The BoxyCharm acquisition was meant to build the company up to $1 billion in sales for 2020.
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Source: WWD