Beautycounter launched a direct-to-consumer enterprise in 2013, promoting by means of its personal web site and internet of consultants, of which i
Beautycounter launched a direct-to-consumer enterprise in 2013, promoting by means of its personal web site and internet of consultants, of which it has greater than 65,000 as we speak, many on social media.
Beautycounter
Personal fairness big Carlyle Group is taking a majority stake within the guardian firm of Beautycounter, greatest recognized for its “clear” make-up and skincare merchandise. Carlyle’s backing formally labels the wonder model a unicorn, valuing proprietor Counter Manufacturers at $1 billion.
Beautycounter was most not too long ago valued at $400 million following its earlier capital elevate in January 2018, in line with PitchBook information.
The funding comes as enterprise funding into personal start-ups like Beautycounter soared to a report $64 billion within the first three months of the yr — the best quantity ever for a single quarter and equal to 43% of all of the enterprise cash raised in 2020.
It additionally comes as extra consumer-facing firms like Beautycounter go all-in on long-term e-commerce options and direct-to-consumer efforts which have been largely validated all through the pandemic.
Headquartered in Santa Monica, California, the corporate launched as a direct-to-consumer enterprise in 2013, promoting by means of its personal web site and internet of consultants, of which it has greater than 65,000 as we speak. Many of those consultants are higher regarded as influencers who tout Beautycounter’s merchandise to their social media followers and may obtain as much as 35% fee on their retail volumes if profitable.
The corporate was first based in 2011 by CEO Gregg Renfrew, who as we speak is usually lauded as a pioneer with regards to transparency within the make-up business.
“ESG concerns play an growing function in our funding processes and Beautycounter has authentically built-in these values — together with sustainability, moral sourcing, and variety — into its model, its merchandise and into the best way it conducts enterprise,” Carlyle Group’s Jay Sammons, head of world client, media & retail, stated in an electronic mail assertion to CNBC. “We consider Beautycounter will proceed to distinguish itself and serve customers’ wants effectively into the long run.”
Beautycounter founder Gregg Renfrew lobbies in entrance of Congress for higher authorities rules on personal-care merchandise.
Supply: Beautycounter
Beautycounter has printed a listing of 1,800 questionable chemical elements, dubbed The By no means Checklist, that the corporate vows won’t ever be put in its merchandise. A few of these embrace the disinfectant benzalkonium chloride and coal-tar hair dyes, a byproduct of coal processing.
As an advocate for higher authorities rules on personal-care merchandise, the corporate has a historical past of lobbying members of Congress for higher legal guidelines to maintain dangerous chemical substances out of the gadgets that ladies and men are placing on their our bodies day by day.
With their majority stake, Carlyle joins a roster of Beautycounter buyers that embrace the U2 frontman Bono and private-equity agency TPG Development, which the Wall Avenue Journal experiences is exiting as a part of the deal.
Beautycounter ranked No. 48 on final yr’s CNBC Disruptor 50 checklist of personal, venture-backed start-ups which might be positioned to rework industries.