Luxury Beauty Disruptor Scores $100m In New Funding: ‘We’re Blowing The Old Beauty Business Wide Open’
“Luxury beauty buyers’ club” Beauty Pie touts its cosmetic products as equivalent to big-brand luxury offerings but available to members – directly from its warehouses – at a fraction of the cost. With the Series B funding, Beauty Pie intends to expand to new markets and fuel growth of wellness and dietary supplement categories added in 2020, which have “skyrocketed” during the COVID pandemic.
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“There's a lot of creativity and innovation that's being forced” by supply chain challenges, according to Elizabeth Corrigan, recently appointed chairwoman of the Independent Beauty Association. IBA’s Akemi Ooka says smaller companies looking to engage on sustainability can be well-served to start with supply chain assessment.
The agency is aware of more than 14,000 substances on the EU market with some indication of skin-sensitization concern. Using the OECD guideline, adopted in June, registrants may be able to make conclusive predictions without use of animals and should update REACH dossiers accordingly.
The Independent Beauty Association’s Akemi Ooka, head of global supply chain resources, and new board chair Elizabeth Corrigan sat down with HBW Insight to discuss ongoing supply chain challenges, how the trade association’s members are adapting, and prospects for relief ahead.