Estee Lauder said that beauty is an attitude. Be that as it may, beauty is also a massive worldwide industry that generates billions of dollars in sales and the market is as alluring as an intoxicating perfume to entrepreneurs and investors alike.
Glossybox made a powerful entrée this morning, announcing that is has shipped its two millionth box and has received $72.4 million (55 million euros) in overall financing.
This European version of Birchbox delivers monthly packages filled with beauty products to its community of subscribers. Upon signing up, women choose their subscription plan and create a beauty profile. They will then receive a curated box of 5 travel-sized products, based on their preferences. A beauty magazine is included in the package along with cosmetics like hand cream, nail polish, perfumes, and so on.
Glossybox appeals to consumers that appreciate the element or surprise and ability to sample beauty products before buying, as well as to brands that want to put their products in the hands of an engaged audience. It was founded in Germany in 2011 and now has a presence in 16 countries.
Along with the fresh, sparkling funding news, Glossybox also announced shipping its 2 millionth box. The service has more than 200,000 customers around the world, and all these demonstrations of traction attracted the attention in investors looking to get in on the action.
German accelerator Rocket Internet, Holtzbrink Ventures, and Investment AB Kinnevik participated in this round, which is a first for Beauty Trend Holding.
Earlier this year, Birchbox acquired its French clone Joliebox in an attempt to penetrate the European market. However, with a presence in Asia and Israel, as well as wider distribution across Europe, Glossybox’s reach is already greater than its American competitor and this large round of investment will only accelerate its growth. Europe has become a hot space for e-commerce startups this year, such as Zalando, another Rocket Internet company.