Beauty Pie is a company that specializes in developing affordable beauty products with an online club-based platform for its customers. The startup has recently made business news with an infusion of investor funding that will help it to continue its current trajectory of forwarding movement and growth. If you're not familiar with this new business, and love beauty products, here are 20 things bout Beauty Pie you probably didn't know but might find interesting.
1. Beauty Pie is a new company
If you haven't heard of Beauty Pie, it's probably because it's a fairly new startup. The company was founded in 2018 and has only been in business for three years. It's relatively unknown, but in recent months, it's been discovered by many new customers, which has been good for business. The company is headquartered in London, England.
2. Beauty Pie has one founder
The founder of Beauty Pie is Marcia Kilgore. According to Crunchbase, Ms. Kilgore is a serial entrepreneur. In the mid-1990s she developed an experimental beauty studio that became Bliss Spa, which was acquired by Luis Vuitton MH in 1999. She build a second brand called Soap & Glory, then sold it to Boots/Walgreens. She also founded FitFlop in 2007, which was a footwear brand. She also founded Foam and Substance, and now Beauty Pie. She is a respected entrepreneur and businesswoman in the British beauty products industry. Marcia has a long track record of building successful companies, then selling them for a profit.
3. Beauty Pie uses a complex array of technologies
The Beauty Pie website actively uses a total of 52 technologies to power its website. It's a complicated combination that all works together to ensure that visitors to the website enjoy a smooth and seamless experience. The technologies are distributed across dozens of technology products and services. Some of these products include SPF, iPhone Mobile Compatible, Viewport Meta, and many others.
4. The overhead cost of IT is high for Beauty Pie
Beauty Pie has a high overhead cost for its IT because of the large number of technology products and services that are required to operate the website. This is just the cost of doing business. The website must perform well to encourage visitors to become members and to return for more. The estimated cost of IT for Beauty Pie for 2021 is $74.8K.
5. Beauty Pie maintains uniqueness in the beauty industry
Every business must stand out from the competition to maintain an edge in the market. Beauty Pie has secured 23 trademarks in the bleaching, cleaning, polishing, scouring, and abrasive preparations in the cosmetics category. These trademarks ensure that none of its rivals can offer the same products, nor can they legally copy or imitate them without the express permission of Beauty Pie. It retains all legal rights over the intellectual properties of 23 items. This is what helps them stand out from the other beauty companies.
6. Beauty Pie's web traffic volume is increasing
The analytics reports for the Beauty Pie website show that there is an increase in the number of visitors that come to the site each month. Over the last thirty days, a total of 497,014 people have visited the site. This represents a monthly visits growth increase of 2.33 percent over the previous month. The high volume of web traffic has resulted in Beauty Pie's website being ranked at number 82,058 of the millions of websites registered on the world wide web.
7. Beauty Pie is the most popular in the United Kingdom
Most of the web traffic for Beauty pie originates in the United Kingdom. Seventy-five percent of the visitors to the site are from this country with a monthly visits growth increase of 0.51 percent. Twenty-two percent of the visitors are from the United States with a monthly visits increase of 5.02 percent. Less than one percent of the visitors are from Canada with an 82.8 percent increase in visits, India, and Australia.
8. Beauty Pie has a core executive leadership team of four members
The core executive leadership team at Beauty Pie consists of four members. Marcia Kilgore is the founder. Robert Weston is the chief marketing officer. Panni Morshedi is the chief operating officer. Eleena Broadfoot is the chief financial officer. Although the group is small, they are a top-notch group of experienced professionals. they have the support of other executives and managers to help run the company. These are the key decision-makers for Beauty Pie.
9. Beauty Pie has one member on its board of directors
Beauty Pie has just one member on its board of directors. Danny Rimer joined the board as a member in 2019. He is a partner at Index Ventures with two portfolio companies and one exit. He is also an investor with a long history of success in the investment industry. Before joining Index he served as General Partner at the Barksdale Group. He worked for JP Morgan and served as managing director, underwriter, and financial analyst. He has also made multiple investments. He was appointed an Officer of the Order of the British Empire in 2017. He provides advisement for Beauty Pie in its financial and strategic planning.
10. Beauty Pie is a venture capital-funded enterprise
Beauty Pie has participated in two rounds of venture capital fundraising. The most recent round of Series B funding was completed on September 8, 2021. The total amount raised is $100 million.
11. Beauty Pie has strong investor confidence
Beauty Pie has attracted the interest and support of five investors. L'Attitude Ventures and Index Ventures were the most recent investors to join the group. Other investors include Balderton Capital, General Catalyst, and Insight Partners. It's not often that a young company that has only been in business for a few years gains the confidence of wealthy investors. Ms. Kilgore's previous business success was enough for the investment firms to feel confident that their investments in her latest entrepreneurial venture would likely result in a healthy return on their investment in the months and years to come. Her track record shows that practically anything Marcia Kilgore undertakes is going to be a raging success. Her reputation proceeds her. This is the main factor that has inspired such trust and confidence from Beauty Pie's current investors. It's likely to continue its growth and expansion with more customers joining regularly. Kilgore has the magic touch when it comes to launching beauty product companies.
12. Beauty Pie is a privately held enterprise
Beauty Pie is a private company that is still under the control of its founder and owner Marcia Kilgore. She has opted to keep the company as a privately owned enterprise. It's not likely that she will file for an IPO to list it on the public stock exchange. This isn't an option that she has exercised in the past, so you probably won't see shares of Beauty Pie stock available for public trading, at least, not any time soon.
13. Beauty Pie is benefiting from the covid-19 pandemic
According to Techcrunch, Beauty Pie, like many other online companies is seeing an increase in visitors and members because there are more people at home. These homebound residents are turning to online shopping to avoid going out in public and risking exposure to the various covid-19 variants making another wave around the world. This has resulted in a new wave of shoppers who are looking for health, wellness, and beauty products. Business has been good for Beauty Pie and it's expected to pick up more in the months to come.
14. Beauty Pie is a direct consumer business
Another reason for Beauty Pie's success is because it sells its products directly to the consumers from its website. There is no broker or middleman involved to take a cut of the profits. Its online storefront sells Beauty Pie's branded label goods to reap the benefits of pure profit less overhead expenses. It's a solid platform with an easy-to-navigate website that brings back a lot of repeat business. Customers sign up for a membership club to receive a discount on quality luxury beauty products. It gives them something to look forward to receiving in the mail.
15. Beauty Pie is a high-end company but offers no-frills
Kilgore has built a practical platform with a new brand that is known for its high quality in the luxury beauty products industry. This is thanks to her years of previous success in the business. The memberships have moderate pricing with deep discounts on the luxury brands included in the product shipments. The packaging is clean and simply designed. It offers no frills. The main focus is on the products inside. This method is how she keeps the costs down to make a respectable profit.
16. Kilgore doesn't believe in expensive marketing
Marcia Kilgore believes that it's essential to provide quality products at a reasonable cost, but she doesn't believe in expensive marketing campaigns. The Canadian owner of Beauty Pie has opted for a leaner model that puts the available funding into opening new warehouses, sponsoring a few pop-ups to rally more interest in the products and services, and expanding into new territories. For her, it's about building the business around high-quality products while providing exceptional customer service. So far, her business model has been paying off for Beauty Pie.
17. Beauty Pie is not quite a unicorn
Techcrunch reports that the recent valuation offered by Pitchbook put the valuation of Beauty Pie at over $1 billion. They confirm that the report was an inaccurate accounting. Their sources at Beauty Pie were not willing to disclose the current valuation, but they explained that it's just under the billion-dollar mark. Beauty Pie is close to achieving the elite unicorn status, but it's not quite there yet. One more round of venture capital funding is likely all needed to push it over the top. Kilgore is not confirming any talks about another funding round this soon. The last one recently closed in September. Instead, she's focusing on expansion plans.
18. Beauty Pie does offer its brands
We also learned that Beauty Pie works with high-end beauty product producers to obtain its blank label products. It then uses its own brand/label for the membership packages. It sells under its private label. Beauty Pie does not develop nor formulate the products themselves. It buys them, relabels, and distributes them. Beauty Pie goes about business in a manner that allows the company to provide beauty products of comparable value with high-end luxury brands at up to ten times less than the market value at retailers. Beauty Pie confirmed that most high-end luxury beauty product companies mark their products up by ten times their cost. No need to worry because Beauty Pie is still making a nice profit.
19. Beauty Pie is currently hiring
According to LinkedIn, Beauty Pie is an organization that maintains a workforce of 159 employees. The organization has listed nine available job openings with its company. All of the jobs that are listed are for people who live in London, England. So far, there is no sign of any international hires yet.
20. Beauty Pie is a company to keep your eye on
We expect Beauty Pie to continue to grow and expand. It will likely become one of the leaders in online beauty membership platforms. The Beauty Industry has a lot of room for growth. Consumers have time on their hands. There is no sign of the pandemic going away any time soon, so there will likely be people continuing to shop online. We expect that trend to continue indefinitely because of the convenience factor alone. The future for Beauty Pie is bright and sunny. Whether Kilgore will sell to a larger company or hang on to the company remains to be seen.
Written by Allen Lee
Read more posts by Allen Lee