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.
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