Beauty For All Industries raised $96 million in growth investment from TPG to fuel development of their technology platform for increased access to personalized beauty.
WHO: When IPSY acquired its competitor BoxyCharm in 2020, Beauty For All Industries was formed as a portfolio for the beauty subscription businesses as well as Addison Rae's Item Beauty, Becky G's Treslúce Beauty, Complex Culture, and Refreshments. The business, rooted in proprietary machine-learning technology, utilizes more than 200 million product reviews and data from millions of beauty enthusiasts to create personalization algorithms that inform unique monthly bag and box combinations for subscribers. Data analytics from consumer feedback and preferences inform new product launches and market opportunities for in-house as well as third-party brands.
WHY: The company plans to use the money to develop its technology platform, expand retail distribution, and grow internationally.
IN THEIR OWN WORDS: "TPG's additional investment will allow us to build on the incredible momentum we have experienced over the past year as we integrated BoxyCharm into our portfolio, significantly grew our Refreshments brand, and launched our physical retail presence in Sephora stores with Madeby Collective," said Marcelo Camberos, co-founder and CEO of BFA Industries. "Our next chapter will be focused on enhancing our technology and distribution offerings to bring even more personalized experiences to consumers, wherever they are, whether that is online, on their phone, or in stores."
“Consumers have been increasingly conditioned to expect customized marketing and a near perfect match every time," said Peter McGoohan, Partner at TPG. "Since our first investment in BFA in 2015, we have been impressed by their ability to consistently and successfully deliver personalized beauty, while remaining true to their mission of inspiring individuals to express their unique beauty. They have a pulse on what the customer wants and the agility to pivot and adjust as consumer behaviors and preferences change.”
DETAILS: