#StartupNews Top startups in digital beauty Digitalizati | Idea factory
#StartupNews
Top startups in digital beauty
Digitalization made the beauty industry the fastest growing category under consumer goods. According to analytics, its global revenue will reach $716 billion by 2025. Moreover, online sales are expected to occur in 48% of all beauty sales by 2023. Check out a more detailed article about the beauty industry here. Meanwhile, let’s overview some prominent companies in the beauty market.
Glossier
Country: the USA
Total of investments: $266 million
Originally, the startup began as a beauty blog. However, now it’s turned into a large successful company valued at over $1,2 billion. Glossier offers makeup and skincare products for subtle ‘no-makeup’ look. Its founder — Emily Weiss who started the project in 2014.
The company’s success is chiefly based on Emily’s idea of naturalness and uniqueness. Glossier has only 2 retail stores and doesn’t seek to join huge corporations like Sephora or Ulta Beauty. Instead, the company sells cosmetics on their Instagram page.
Perfect Corp.
Country: China
Total of investments: $75 million
The startup provides beauty tech services. It allows customers and other companies to use AR apps via its trademarked technology. The most famous feature of Perfecf Corp. is YouCam — an app for virtual makeup try-on. Huge corporations like Estée Lauder have implemented the technology with a view to provide AR-based mirrors. They enable users to try different product and pick the best one.
Purplle
Country: India
Total of investments: $94 million
This is an e-commercial startup which includes a website and app for cosmetics, skincare, and haircare. Purplle hosts a multitude of famous cosmetic brands. The company has reached a valuation of $500 million and is likely to become a new Indian unicorn.
Hims
Country: the USA
Total of investments: $233 million
This is a telehealth startup offering products for men. They involve personal care and beauty prescriptions for problems like alopecia and acne. A bit later, Hims launched a sister company — Hers which is targeted at women. What makes the project unique is that insurance is not accepted. Moreover, the company sells products based on a monthly subscription.
Madison Reed
Country: the USA
Total of investments: $203 million
The company provides a hair color delivery. There is no need to go to a beauty salon to get your hair dyed. Madison Reed will do everything at your home. The company has a subscription-based service through its online store as well as partnerships with Ulta, Sephora and QVC, among others. The startup aims to fill the gap between cheap drugstore box dye and pricey salon hair color.
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