Investment will accelerate the beauty buyers’ club’s push into new markets, experimental retail and wellness
Beauty Pie intends to put the funding towards pop-up shops, new warehouses and a membership model
Beauty Pie, the British luxury beauty buyers’ club founded by Marcia Kilgore, has completed a Series B financing round of US$100m.
The round was co-led by venture capital firms Index Ventures and Insight Partners, as well as existing investors Balderton Capital, General Catalyst and Latitude VC, the sister fund to London-based seed investor LocalGlobe.
Beauty Pie plans to put the funding towards new warehouses, pop-up shops and a new membership model for its ‘devotees’, called Beauty Pie Plus.
Founded in 2016 by serial entrepreneur Marcia Kilgore, who is also the brains behind FitFlop and Soaper Duper, Beauty Pie experienced exponential growth during the Covid pandemic, which saw the acceleration of D2C shopping, doubling its members in fiscal 2021.
The brand, which calls itself the Netflix of high-end beauty and wellness, provides high-quality beauty goods from leading third-party labs at direct-to-warehouse prices.
“Beauty Pie delivers huge value to its customers demonstrated by exceptional member loyalty over many years,” said Danny Rimer, Partner at Index Ventures.
“It’s a model that marries true industry disruption with customer obsession – a winning combination.”
Rebecca Liu, Principal at Insight Partners, also commented: “Marcia has spent decades building businesses that genuinely treat customers the way she would want to be treated, and Beauty Pie is the epitome of that ethos.
“With its transformative value chain and membership model, Beauty Pie lets members have their pie and eat it too: the best products at the best prices.
“We look forward to our partnership with Beauty Pie as they continue to empower beauty and wellness consumers across the UK, the US, and beyond.”
Kilgore, meanwhile, added: “We are about empowerment, self-worth, and encouraging customers to demand more out of life, even if that means starting with their makeup or their moisturiser.
“We want millions of customers to have access to our ‘no-middlemen, no-ridiculous retailer markup’ pricing.”