MMI Analytics, a specialist provider of beauty industry insights, has raised £4.5 million from angel investors to fund its next wave of expansion and data innovation.
WHO: Founded in 2005 as a media insight provider, MMI has evolved to become a standard in beauty industry analytics monitoring media, marketing, and e-commerce data in almost 50 of the world's largest beauty markets.
WHY: MMI will use the investment to drive expansion into new territories and fund acquisitions that enhance its data capabilities. It will also support the development of new data insights to optimize clients' sales, partnership, and brand-building activities online.
IN THEIR OWN WORDS: Christian Eckley, CEO of MMI Analytics, said: "With hundreds of billions of new beauty dollars up for grabs online over the next five years, brands are looking for a digital advantage. We provide that advantage and we are investing further to help our clients secure more attention and sales online.”
He continued, "The convergence of media and etail data will drive conversion for beauty online. Beauty is breaking the boundaries between PR, marketing and eCommerce to optimise for digital, and we are blending our data to help drive the best outcomes at every stage in the online shopper journey."
Nigel Wray, a former chairman of rugby union club Saracens, said: "Beauty is global, growing and moving online fast, which is why we are delighted to become shareholders in MMI. It has unique data, across media and all over the world, showing how shoppers experience beauty brands, and it works with many great global brands already."
Lord Stanley Fink said, "Beauty companies need global, local and campaign level data to analyse performance and make the best brand, communications and e-commerce decisions. MMI was built with the beauty industry for the beauty industry, and provides the insight firms require to gain an edge online."
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