Wander Beauty Raises Series A, going from a single product launch on QVC to global beauty brand in just two years.
WHO: Launched in 2015 by entrepreneur Divya Gugnani and former Victoria’s Secret model Lindsay Ellingson, Wander was created to streamline women’s beauty routines. The color brand focuses on a 17-sku lineup of globally inspired multitasking essentials.
WHY: To fund international expansion.
IN THEIR OWN WORDS: Desiree Gruber, cofounder of DGNL Ventures, told WWD, “When you invest in the company you have to love the founder and their ability to drive a brand. She [Gugnani] has an incredible history and track record of success. She has been inside QVC for years—she has the lay of the land, she has access and understanding and has seen other brands do it.”
- Wander Beauty raises $4.5 million in a Series A, according to a Form D filing with the U.S. Securities and Exchange Commission.
- DGNL Venture was the lead investor with Maven and Pritzker Group Venture Capital participating in the round.
- According to WWD, retail sales are said to be on track to hit $15 million, more than twice the approximately $7 million in sales for 2016.
- This year, about 30 percent of sales will come from each QVC, wanderbeauty.com, and Sephora (350 doors in US and Canada), with the remaining 10 percent coming from Net-a-Porter, Anthropologie, and a few other outlets.
- In 2015 prior to launch the brand raised less than $1 million in angel investments.
Read the article in WWD.