Ipsy announces half a billion in revenues
Ipsy, the cosmetics subscription service that gained popularity sending monthly Glam Bags of beauty samples to its customers, revealed on Thursday that it has achieved over $500 million in revenues, and unveiled a suite of updated services, including new personalization options.
Having launched Glam Bag Plus, its first subscription package featuring full-size products, last year, Ipsy has now released Glam Bag Ultimate. The new service offers 12 full-size products worth $250 for $50 a month, compared to the Glam Bag Plus’ five products for $25 a month.
On top of this, Ipsy has released a newly enhanced Beauty Quiz, designed to help the company better align its offering with its customers’ individual desires, specifically in relation to the frequency that they receive each product category.
Data from the quiz will be used along with the more than 160 million product reviews gathered by the company to date to train the machine learning algorithms that inform the proprietary Ipsy Match technology behind the personalization of each subscriber’s Glam Bag.
For customers looking to personalize their subscriptions more directly, as of October, Ipsy is also introducing the option for subscribers to choose one of the products in their Glam Bag.
Customers will also be able to add up to five extra samples or full-size products to their monthly delivery for $3 each or $12 each, respectively.
“When we started Ipsy, we wanted to provide a platform for individuals to freely exchange ideas and connect with one another. It was about shifting the balance of power from one to many and democratizing what was a very authoritarian industry," said Ipsy co-founder and CEO Marcelo Camberos. “We really listen and lean into our community, and we are incredibly proud to announce a new suite of features that were inspired by them.”
Founded in 2011, Ipsy is currently the largest beauty subscription service in the world, boasting more than 3 million monthly active members.
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