Beauty for All Industries (BFA) has received a $96 million growth investment led by TPG Growth. BFA, which is comprised of beauty subscription brands IPSY and BoxyCharm, as well as owned brands Item Beauty, Treslúce Beauty, Complex Culture and personal care brand Refreshments under the Madeby Collective brand incubator, will enable BFA to further develop its technology platform, expand its nascent retail store presence, and enter new, international regions.
Since 2011 the company has steadily grown its stable of brands with a focus on delivering personalized experiences through product innovation, machine learning technology and an inclusive, community-first approach promoting self-expression.
Marcelo Camberos, co-founder and CEO of BFA Industries, said, “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.”
Rooted in machine learning, BFA’s proprietary technology utilizes more than 200 million product reviews and data from millions of beauty enthusiasts to create personalization algorithms that inform 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.
Over the last 18 months BFA has organically grown the company from a single beauty subscription brand, IPSY, to a portfolio spanning multiple brands and categories. Combined, the BFA brands have amassed over 4 million Tik Tok fans, with IPSY becoming the third largest beauty brand on the influential platform. Additionally, the acquisition and integration of BoxyCharm was completed. The company is also delivering on its pledge to amplify brands from underrepresented communities and is targeting $25 million for Black- and Latinx-owned brand support in 2022.