Phlur, the sustainable fragrance company, completed its Series A with a total of over $7 million in funding. Concurrent with the funding, Phlur acquired independent clean beauty manufacturer Texas Beauty Labs.
WHO: Founded in 2015, Phlur is a digital-first fragrance company that’s completely reimagining how customers buy, wear, and learn about scent. A certified B Corp, Phlur provides complete transparency into its ingredients and processes, using an intentional balance of materials derived from botany and from the lab to create stunning scents that are safer for skin, and safer for the planet. Phlur offers customers fine fragrances, body care, candles, and recently launched a line of natural deodorants under the brand Explore Naturals.
Texas Beauty Labs, founded in 2008 by Mary Berry, is a leading independent manufacturer of clean beauty products. Reflecting this next stage in the company’s evolution, Texas Beauty Labs has formally changed its name to The Goodkind Co.
WHY: The combined funding and acquisition positions the clean fragrance and beauty leader to drive exponential growth in the category.
IN THEIR OWN WORDS: “When we started four years ago, the words ‘clean beauty’ were not part of the common vernacular. We created a line of thoughtfully crafted fragrances with full ingredient transparency because we felt it was the right thing to do. Now clean beauty has become a movement, with more and more people correctly holding brands accountable to create safer and more sustainable products and be fully transparent in their product decisions,” said Eric Korman, co-founder & CEO of Phlur. “When I first met Mary and heard her story, I knew that our shared vision of creating beauty products with integrity and heart could lead to some amazing opportunities. We’re thrilled by our new ability to rapidly evolve and test new products, and equally important, extend this ability to empower the independent beauty community. Our combined objective: to further accelerate the adoption of clean products by mainstream customers.”
“With the launch of Explore Naturals, it was clear that we had created a special partnership. We launched the brand on Amazon in under three months, and then in the next three months we achieved annualized revenue of over $1M,” said Mary Berry, the CEO of The Goodkind Co. “This is an early example of what we will be able to achieve together for our direct benefit, and equally as important for our clients.”
“At Symrise, we have been leading the way for more sustainable fragrance and cosmetic ingredients for years and we fully support PHLUR’s vision of full transparency. We are excited to partner with The Goodkind Co to be able to efficiently bring this innovation to the indie beauty community for the first time,” said Achim Daub, Global President of Scent & Care for Symrise Inc. “Eric’s early vision behind the clean fragrance movement compelled our decision to originally invest in PHLUR. This combination is even more compelling, as it enables PHLUR to accelerate its leading position in clean fragrance, and creatively double down in clean beauty overall—both of which are of strategic interest to us as a leading supplier of innovative cosmetic ingredients and sustainable fragrance materials and creations around the world.”
“At Belcorp we are convinced that by creating responsible and transparent beauty products we contribute to building a future full of possibilities for all. We believe that companies in the industry have a valuable opportunity to respond to the needs of our consumers and, at the same time, preserve the harmony and beauty of our surroundings. We are excited to take part in PHLUR’s future innovations in the world of sustainable fragrances,” said Erika Herrero, CEO of Belcorp.
DETAILS:
