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Published
Feb 23, 2022
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Ipsy owner Beauty For All inks $96 million in funds

Published
Feb 23, 2022

Beauty For All Industries announced on Tuesday its has inked a $96 million investment led by current investor TPG Growth, the middle market and growth equity platform of alternative asset firm TPG. 


The new capital will enable BFA to further develop its technology platform, expand its developing retail store presence, and enter international regions to bring its beauty products and offerings to new consumers around the world - Ipsy


The new capital will enable BFA to further develop its technology platform, expand its developing retail store presence, and enter international regions to bring its beauty products and offerings to new consumers around the world.

Founded in 2011, BFA includes beauty subscription brands Ipsu and BoxyCharm, as well as in-house brands Item Beauty, Treslúce Beauty, Complex Culture and personal care brand Refreshments, under the Madeby Collective brand incubator. 

​“TPG’s additional investment will allow us to build on the incredible momentum we have experienced over the past year as we integrated BoxyCharm into our portfolio, significantly grew our Refreshments brand, and launched our physical retail presence in Sephora stores with Madeby Collective,” said Marcelo Camberos, co-founder and CEO of BFA Industries.

“Our next chapter will be focused on enhancing our technology and distribution offerings to bring even more personalized experiences to consumers, wherever they are, whether that is online, on their phone, or in stores.”

Up close, BFA’s proprietary technology utilizes more than 200 million product reviews and data from millions of beauty customers to create personalised algorithms that allows the company to offer unique monthly bag and box combinations for subscribers. Data analytics from consumer feedback and preferences inform new product launches and market opportunities for in-house as well as third party brands.

“Consumers have been increasingly conditioned to expect customized marketing and a near perfect match every time,” said Peter McGoohan, Partner at TPG.

“Since our first investment in BFA in 2015, we have been impressed by their ability to consistently and successfully deliver personalized beauty, while remaining true to their mission of inspiring individuals to express their unique beauty. They have a pulse on what the customer wants and the agility to pivot and adjust as consumer behaviors and preferences change.”

In the last 18 months, ​​BFA has grown the company from a single beauty subscription brand, Ipsy, to a portfolio spanning multiple brands and categories, including the creation of the personal care brand, Refreshments, as well as the launch of three direct-to-consumer brands, Addison Rae's Item Beauty, Becky G's Latinx beauty brand Treslúce Beauty and Complex Culture, all under the Madeby Collective brand incubator.

The company also acquired BoxyCharm in December 2020.

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