FYI – Ipsy Acquired BoxyCharm + New Subscription Coming Soon!
FYI – Ipsy has acquired BoxyCharm!
- BoxyCharm and Ipsy will continue to operate as separate subscriptions
- Beauty For All Industries also announced it will be launching a personal care subscription called Refreshments
More from Yahoo Finance:
IPSY, the world’s largest beauty sampling service, today announced it is acquiring BoxyCharm, the largest provider of full-size beauty product subscriptions, to form BFA (Beauty For All) Industries. Together, BFAI has a global community of more than 30 million beauty enthusiasts, and is on track to exceed $1B in annual revenue this year.
“We are thrilled to add BoxyCharm to BFAI, complementing the IPSY offering and strengthening our position in the personalized beauty ecosystem,” said Marcelo Camberos, co-founder and CEO of IPSY, and newly appointed CEO of BFAI. “Both brands share a commitment to celebrating diversity and enabling inclusion through beauty, which our world needs more than ever today. Joe has built an amazing business and an avid community of beauty enthusiasts. BoxyCharm has always pushed us to be better and now that we’re under one roof, we’re looking forward to growing and innovating together.”
Under Camberos’ leadership, BoxyCharm will continue to be led by its founder Joe Martin, who will join the BFAI board and become a co-founder alongside Camberos and BFAI Chairwoman and co-founder, Jennifer Goldfarb. “2020 has only increased the appetite for the convenience of delivery, the joy of discovery and the appreciation for self-expression,” said Martin. “Joining BFAI is a great culture fit and provides an exciting opportunity to learn from each other, share best practices and apply operating efficiencies that will provide an even better shopping experience for our existing and new customers.”
BoxyCharm will operate alongside IPSY and its brand incubator Madeby Collective under the newly formed umbrella organization, BFAI. Earlier this year, Madeby Collective launched with its first of many direct-to-consumer brands, including ITEM Beauty, co-founded by Addison Rae, the second largest TikToker worldwide, and Complex Culture, a SELF Healthy Beauty Award winner.
Later this year, BFAI is launching its long-planned personal care subscription, Refreshments, to provide extra fun, extra clean essentials that jazz up every day routines. The initial offering will include face wipes, hand cream, body cream and body wash, with a broadened assortment launching in 2021 and beyond. IPSY president Fernando Madeira will expand his role to include overseeing Refreshments, which will be managed day-to-day by Sabeen Mian, SVP of Refreshments.
With the addition of BoxyCharm, BFAI will double down on its strategy for innovation and expansion, which is focused on four pillars:
● Personalization: Delivering a highly personalized experience, leveraging +180M beauty reviews and millions of member data points enhanced by machine learning
● Merchandising Innovation: Partnering with coveted third party brands that delight and meet community needs and developing high quality products in six months or less utilizing proprietary member data
● Community Engagement: Creating original content and amplifying creator content to engage a highly passionate community with +20M social engagements
● Team & Infrastructure: Investing in best-in-class leadership and the sharing of corporate services, including technology, operations, finance, analytics, customer service and more
IPSY and BoxyCharm will continue to operate as independent brands, and Madeby Collective will continue to be a vehicle for incubating new creator-led beauty brands. IPSY has spent the last nine years thoughtfully building a platform designed to make beauty more welcoming through highly personalized and innovative products. Members, brands and collaborators have repeatedly responded with enthusiasm and engagement, resulting in a powerful and passionate community that becomes even stronger with BoxyCharm and Refreshments.
Are you an Ipsy or BoxyCharm subscriber? How do you feel about this news and what do you hope to see in the future from these subs? Are you excited about the new subscription Refreshments?
If you are new to Ipsy:
- Ipsy is $12 a month beauty and makeup subscription box. Check out all of our Ipsy reviews to see what’s been in past boxes and check out our Ipsy Spoilers to see what’s coming up in future boxes!
- Ipsy Glam Bag Plus is $25 a month. Check out our Ipsy Glam Bag Plus reviews and spoilers to see what you can expect each month.
- Ipsy Glam Bag Ultimate is $50 a month. Check out our Ipsy Glam Bag Ultimate reviews and spoilers to see what you can expect each month.
If you are new to BoxyCharm:
- BoxyCharm is a $25 a month full-size beauty and makeup subscription box. Check out our BoxyCharm spoilers and reviews to learn more!
- BoxyCharm Premium is $35 a month. Check out the reviews here and spoilers to learn more about this subscription.
- BoxyLuxe is a once-a-quarter upgrade option you can add to your existing $25-a-month BoxyCharm subscription. So for an additional $24.99, you’ll get the Luxe items quarterly for a total for $49.99. Check out the spoilers and reviews to learn more.