Beauty For All Industries (BFA), the owner of cosmetic subscription names Ipsy and BoxyCharm, has inked almost US$100m in investment.
The $96m cash injection was led by TPG, a Texas-based private equity group.
Since 2011, the specialist in machine learning has been focusing on personalised beauty experiences through technology and product innovation for its brands.
BFA’s digital platform is said to be one of the largest digitally native, integrated beauty sites globally – created by some of Silicon Valley’s best, according to the group.
Under its Madeby Collective incubator, BFA launched Item Beauty, Complex Culture and personal care brand Refreshments.
With its new found cash, BFA intends to ramp up its technology innovation and expand its retail presence.
Bosses also have their eye on entering new international regions with the fresh investment.
“TPG’s additional investment will allow us to build on the incredible momentum we have experiences over the past year as we integrated BoxyCharm into our portfolio, significantly grew our Refreshments brand and launched our physical presence in Sephora stores with Madeby Collective,” said BFA’s co-founder and CEO, Marcelo Camberos.
“Our next chapter will be focused on enhancing our technology and distribution offerings to bring even more personalised experiences to consumers, wherever they are, whether that is online, on their phone or in stores.”
TPG first invested in BFA’s business in 2015.
Beauty for the stars
To create a buzz around its beauty brands, BFA has aligned its brands with some of the world’s most well known faces.
Khloe Kardashian inked a marketing deal with Ipsy in 2020.
A year later, the subscription brand linked up with singer Halsey for a new curation.
Meanwhile, TikTok sensation Addison Rae made her debut in the beauty arena with Item Beauty on a Gen Z-focused colour cosmetics line.
Rae was named as the highest paid beauty influencer by FandsomSpot.com in 2021.
Together, BFA’s combined brands have a following of more than four million on the video-sharing platform.
