Euphoria make-up brand Half Magic lands funding to fuel retail expansion

By Amanda Pauley | Published: 28-Jun-2023

The HBO show’s colour cosmetics brand of choice has secured investment to launch its first bricks-and-mortar partnership this year

Half Magic, the beauty brand by Euphoria's make-up artist, has closed an investment round to boost its expansion into retail. 

The undisclosed funds will help the D2C colour cosmetics brand deliver its first-ever bricks-and-mortar partnership later this year. 

The money will also help the company bring more products to market and raise brand awareness. 

MUA Donni Davy founded Half Magic in 2022 along with A24, the production company behind Euphoria, while working on the high school drama for HBO.

She is best known for her Emmy Award-winning make-up on the show, which inspired the #euphoriamakeup movement on TikTok.

The hashtag now has 2.5 billion views. 

Half Magic’s funding round was led by investor Alliance Consumer Growth (ACG), with participation from A24, venture capital firm Imaginary Ventures and boutique sales agency Access Entertainment. 

MUA Donni Davy founded Half Magic in 2022 along with A24

MUA Donni Davy founded Half Magic in 2022 along with A24

“We are thrilled that our trusted investment partners share our unwavering belief in the power of our products,” said Michelle Liu, General Manager of Half Magic. 

“With their invaluable support, we are poised to spread a touch of magic around the world, expanding from D2C to the world of retail, where our fans will be able to test products in-person for the first time.”

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Julian Steinberg, Managing Partner of ACG, described the brand as setting a "new standard for excellence".  

"Surpassing others in the industry by offering unparalleled formulas at an incredible value and the ability to resonate with trending demographic forecasts,” he said. 

“It is with great enthusiasm that we join forces with the exceptional management team to revolutionise Gen Z beauty and become this generation’s leading artistry beauty brand. 

“Together, we aim to disrupt the market and redefine what it means to express oneself through make-up.”

Half Magic is among a slew of brands that have raised funding recently to take their businesses to the next level.

Ariana Grande’s r.e.m. beauty secured investment led by Sandbridge Capital, while Make-up by Mario landed $40m minority investment to expand his brand. 

Harry Styles’ nail and skin care brand Pleasing, meanwhile, has just announced its first-ever CEO to boost its expansion plans. 

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