Beauty Box Brand IPSY Hits $500 Million Milestone

Beauty box brand IPSY hit a major milestone last week, hitting revenue of more than $500 million. Founded in 2011 as early adopters of

Beauty Box Brand IPSY Hits $500 Million Milestone

Source: IPSY

Beauty box brand IPSY hit a major milestone last week, hitting revenue of more than $500 million. Founded in 2011 as early adopters of the subscription box model, the company said it is the third largest subscription service after Amazon and the largest beauty subscription in the world. Among its impressive accomplishments, the company has shipped more than 1 billion products to date, its online community has more than 25 million members, over 160 million product reviews, and half a billion content views each month.

In a September 26 announcement, IPSY credits its success to the community platform they have created along with a personalized ecommerce experience for their 3 million subscribers.

Beauty Box Brand IPSY Hits $500 Million Milestone

Source: IPSY

“When we started IPSY, we wanted to provide a platform for individuals to freely exchange ideas and connect with one another. It was about shifting the balance of power from one to many and democratizing what was a very authoritarian industry,” said Marcelo Camberos, IPSY’s co-founder and CEO. “We really listen and lean into our community, and we are incredibly proud to announce a new suite of features that were inspired by them.”

The primary attraction to IPSY is their Glam Bags, monthly subscription boxes that provide subscribers with beauty samples, based on their beauty profile (product preferences, make-up products used, hair and skin types, sensitivities, etc.). Last year the company started offering its first subscription box with full-size products. For $25 a month, subscribers receive five full-size beauty products, valued at more than $120. In addition, IPSY sells individual products, special collectors sets, mystery bags

Last week, IPSY announced some new offerings for its loyal customers.

  • Glam Bag Ultimate – For $50 a month, beauty obsessed subscribers receive 12 full-size products, valued at more than $250.
  • Starting with the October Glam Bag, members can choose one of their five products, and they have the option to add up to five additional samples for $3 each or full-size products for $12 each.
  • The company released an enhanced Beauty Quiz to identify preferences and frequencies of each product category. This information, coupled with product reviews, will help IPSY personalize their members beauty boxes.

IPSY said this gives members more control over their monthly deliveries while also learning more about individual customers want.

“For us, personalization isn’t just about delivering what you already know and love, it’s about predicting your needs and anticipating your wants before you do,” said Jennifer Goldfarb, IPSY co-founder and chairwoman. “We leverage every single piece of feedback and datapoint available to evolve how we’re able to delight our members and truly personalize their experience.”

Insider Take:

In eight years, IPSY has taken beauty box brands to a whole new level, recognizing that todays consumer doesnt want just beauty products. They want the right products at the right time and at the right price. They want the products personalized based on their preferences, and they want a community to share their experiences with. IPSY has nailed that, and it continues to grow by repeating that formula and adding new offerings to the mix. It sounds clich but they have mastered wash, rinse and repeat.

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