Half Magic, the brand fusing beauty and entertainment, has closed an investment round led by Alliance Consumer Growth in preparation for expansion into retail later this year.
WHO: In 2022, after spending years dreaming up impossible-to-find makeup products and shades, Donni Davy, best known for her Emmy Award-winning makeup on HBO’s Euphoria, launched Half Magic Beauty in collaboration with A24. Half Magic seeks to empower individuals to express their unique beauty with confidence and style, fusing the realms of beauty and entertainment and inviting everyone to become the star of their own captivating story.
WHY: The funds will be allocated to support growth and expansion into brick-and-mortar planned for Q3 of this year.
IN THEIR OWN WORDS: General Manager Michelle Liu said, "We are thrilled that our trusted investment partners share our unwavering belief in the power of our products. With their invaluable support, we are poised to spread a touch of magic around the world, expanding from D2C to the world of retail (where our fans will be able to test products in person) for the first time, all the while ensuring that everyone's makeup bag always holds a sprinkle of enchantment."
Julian Steinberg, Managing Partner of ACG, said, “We are thrilled to be part of this exciting era in the makeup and beauty industry, and we take immense pride in backing Half Magic. The brand sets a new standard for excellence, surpassing others in the industry by offering unparalleled formulas at an incredible value and the ability to resonate with trending demographic forecasts. It is with great enthusiasm that we join forces with the exceptional management team to revolutionize Gen Z beauty and become this generation’s leading artistry beauty brand. Together, we aim to disrupt the market and redefine what it means to express oneself through makeup.”
TRIBE DYNAMICS EMV: Half Magic Beauty collected $16.1MM EMV in Q2, a 27%% quarter-over-quarter growth. This momentum was notable given QoQ contractions to the brand’s community (756 creators) and content volume (4.5K posts), which both declined by 7%. However, Half Magic Beauty’s $21.3K EMV per-creator average represented a 37% QoQ spike in potency. Nineteen of the brand’s top 20 Q2 earners had also posted about Half Magic Beauty in Q1, with all but four of these consistent brand fans increasing their EMV totals QoQ, demonstrating the power and loyalty of Half Magic Beauty’s community. The brand’s No. 1 overall earner was micro-influencer Giovanna Ferri (@glamgio_nyc on Instagram), who inspired $814.7K EMV across 51 pieces of content.
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