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BIRCHBOX FRANCE SOLD TO JOLIEBOX FOUNDERS BACKED BY OTIUM CAPITAL BUY

Published January 20, 2020
Published January 20, 2020

Birchbox announced the sale of its French subsidiary to its two co-founders Quentin Reygrobellet and Martin Balas in partnership with Otium Capital investment fund.

WHO: Birchbox, founded in 2010 by Harvard Business alums Hayley Barna and Katia Beauchamp, was a pioneer in subscription commerce. In 2011 the business went international, merging with competitor JolieBox created by Quentin Reygrobellet and Martin Balas.

Otium Capital is a family office of French entrepreneur Pierre-Edouard Stérin, the founder of SmartBox Group, a pan-European company in which he still holds more than 90% of the capital. Otium Capital invests the dividends of SmartBox Group into diverse entrepreneurial projects and rests on the principles of risk-taking and ambition. The firm’s other beauty-related investments have been in companies such as Même, Laboté, Oh My Cream.

IN THEIR OWN WORDS: “Within the booming digital beauty market, Birchbox has been and remains the player with the fastest growth rate in France,” with revenue rising by 20% in 2019, said Reygrobellet in a press release.

DETAILS:

  • Birchbox France has been acquired by its co-founders Quentin Reygrobellet and Martin Balas, and Otium Capital, from Birchbox US.
  • Terms of the deal were not disclosed.
  • Birchbox France, 60% of whose revenue comes from a base of over 220,000 monthly subscribers and 40% from its e-tail site, has been profitable since 2016, according to the company.
  • Last year Birchbox France sent out 3 million beauty boxes to 1.2 million clients and works with 300 brands.
  • The independent company’s “first project” will be rebranding. The company holds the license to use the Birchbox brand in France for 18 months.
  • In 2020, the company plans to expand in Europe, and is also working to deploy “premium” services over the course of the year.
  • According to WWD, CEO and Birchbox founder Katia Beauchamp plans to funnel “significant” proceeds from the sale of the French business into growth, including the growth of Birchbox-owned brands.
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