Magnificence Poe, a London-based magnificence startup, has raised $100 million in Sequence B funding led by Index Ventures and Perception Companions.
This spherical additionally counted with participation from current traders reminiscent of Balderton Capital, Common Catalyst, Latitude VC, and LocalGlobe. The brand new funding brings Magnificence Pie’s whole funding to $170 million. The funding will enable Magnificence Pie to develop its attain within the magnificence trade market and develop a brand new membership mannequin known as BEAUTY PIE® PLUS. Principal of Perception Companions, Rebecca Liu, referred to the agency’s participation by stating:
“Marcia has spent a long time constructing companies that genuinely deal with clients the way in which she would need to be handled, and Magnificence Pie is the epitome of that ethos. With its transformative worth chain and membership mannequin, Magnificence Pie lets members have their pie and eat it too: the very best merchandise at the very best costs. We stay up for our partnership with Magnificence Pie as they proceed to empower magnificence and wellness customers throughout the UK, the US, and past.”
Based in December 2016 by magnificence skilled Marcia Kilgore, Magnificence Pie is named the world’s first luxurious magnificence purchaser’s membership. This yr, the startup development has elevated exponentially and the variety of members has additionally doubled.
Magnificence Pie’s purpose is to supply its members with direct entry to procuring from the world’s top-quality health and beauty care product suppliers from Switzerland, USA, France, Japan, Germany, and so forth. Founder Marcia Kilgore stated about Magnificence Pie’s mission:
“We’re about empowerment, self-worth, and inspiring clients to demand extra out of life, even when which means beginning with their make-up or their moisturizer. We would like thousands and thousands of shoppers to have entry to our ‘no-middlemen, no-ridiculous retailer markup’ pricing”.
As a bridge between clients and suppliers with moderately priced and aggressive merchandise, Magnificence Pie has succeeded in difficult the previous definition of ‘luxurious’ and disrupting the ‘mainstream’ high-end magnificence trade. The Magnificence startup expects to change into a frontrunner available in the market, empowering thousands and thousands of individuals to be the very best model of themselves.