Ipsy, the world’s largest beauty sampling service, has announced it is acquiring BoxyCharm, the largest provider of full-size beauty product subscriptions.
The two companies -- one that offers its subscribers a bag, and the other a box, will merge 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.
Marcelo Camberos, co-founder and CEO of Ipsy, and newly appointed CEO of BFAI, comments:
“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.
Joe Martin comments, “2020 has only increased the appetite for the convenience of delivery, the joy of discovery and the appreciation for self-expression. 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.
BFAI To Launch Refreshments, a New Personal Care SubscriptionLater 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.
Fernando Madeira, president, Ipsy, will expand his role to include overseeing Refreshments, which will be managed day-to-day by Sabeen Mian, SVP of Refreshments.
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's well-designed platform that makes beauty more highly personalized includes a powerful and passionate community that becomes even stronger with BoxyCharm and Refreshments, the company says.
We can't wait to see waht's next.