Changelog
Showing the latest 10 of 40 total updates. The last update was made on December 9th, 2024.
GlamPlus had its URL changed
Liis was added to Beauty
Clean Skin Club had its URL changed
Revenue updated for Clean Skin Club
Clean Skin Club was added to Beauty
Revenue updated for Glow Recipe
Revenue updated for e.l.f Beauty
e.l.f Beauty had its URL changed
Revenue updated for Revolution Beauty
Revenue updated for Glossier
In this report we're tracking $177M in monthly recurring revenue and $2.8M in funding.
#1
Liis: $1M+ in Annual Revenue
Fragrance brand
Liis is a perfume brand which was launched in 2020 by Leslie Hendin and Alissa Sullivan, who bonded over their shared passion of fragrances.
The business sells a range of nine perfumes as well as sample discovery sets and scented candles. The company’s online sales are largely driven by organic social media traction, with the lines also sold in a range of small boutiques.
Despite the founders not yet working full-time within Liis, the bootsrapped brand is growing by between 60-70% each year.
Whilst we don’t have revenue figures for the company as a whole, income from just one of their flagship $175 fragrances, Choux Choux, will reach $1 million in revenue this year.
#2
GlamPlus: $2.8M in Funding
Software management and inventory solutions for beauty retailers
GlamPlus was launched in 2020 by three founders who wanted to create a management SaaS for salons and beauty centres, though, it has since expanded to include an eCommerce platform.
After working with 100 salons on their digital offerings in the first six months, they realised there was a demand to provide users with beauty products as well. This combined SaaS and beauty marketplace has now supported more than 500,000 customers and 5,000 business partners.
The software allows customers to simplify operations, whilst automating and scaling their business. This includes processes like managing appointments, payments, client information, payroll and email marketing. As well as allowing their AI assistant to check in clients.
The online inventory management software can then support businesses in budgeting and ordering new products, directly from GlamPlus. Essentially acting as a one-stop shop for beauty platforms.
There are three pricing options available to businesses ranging from ₹7,500 (~$90) to ₹20,000 (~$241), each providing incremental increases to the number of WhatsApp and SMS marketing messages that are able to be sent.
As the team surpassed 10,000 staff, GlamPlus raised $1.9 million in funding in January 2024. Taking the total amount of investment beyond $2.8 million.
#3
BK Beauty: $10M+ in Annual Revenue
Supplying a variety of makeup products and tools
BK Beauty supplies a large range of cruelty-free and vegan luxurious makeup products and beauty tools. The business was founded in 2019 by husband and wife team Paul and Lisa Jauregui, who is a professional makeup artist.
Since its creation, BK Beauty has been growing year on year (3X in 2023), and shipped over 50,000 products in November 2023 alone. This is more than the whole of 2019, 2020 and 2021 combined. A portion of every purchase also gets donated to the Inspire Kindness mission.
As the brand has grown, so have their revenue acquisition channels. Their TikTok shop now makes up around 35% of the site’s sales after collaborations with a number of influencers.
Income has grown from $1 million after the first year, to now surpassing $10 million in annual revenue. Paul shared that he expects this trajectory to continue with the business anticipated to achieve $30-50 million in sales for 2024.
#4
Chāmpo: $10.9M in Annual Revenue
Ethical and sustainably produced haircare brand
Chāmpo was founded by Kuldeep Knox in 2019 as a way to share her haircare products with the world. The business sells a range of own-brand products such as shampoos, conditioners, hair gummies, growth serums and other haircare accessories.
The website also offers haircare advice and features dedicated products for specific hair types. All of which are vegan and sustainably created.
The business has been rapidly growing in popularity since launching, and currently operates in 20 countries, after initially just supporting UK customers.
Chāmpo has now amassed more than 300,000 customer reviews from the sale of over one million products. Whilst these were initially direct to consumers, the products are now available in wholesale locations such as Harrods.
This growth has been reflected in the business' sales, with revenue rising to €9.9 million (~$10.9M) in 2022, up from €328,000 (~$351K) three years prior.
#5
Konvy: $59M+ in Annual Revenue
Beauty eCommerce Platform
Konvy is a Thailand-based beauty eCommerce platform that was founded in 2012 by QingGui Huang and QingLiang Huang.
The website sells a huge range of beauty-related products including skincare, perfume, makeup and haircare. As Konvy has continued to grow, so too has its range, now stocking more than 20,000 items from over 1,000 different brands.
In January 2024 the business raised $11 million in funding as it looks to expand to other countries, including the Philippines.
Konvy reportedly reached over 2 billion baht (~$59 million) in revenue in 2023, a 100% increase YoY. The company aims to grow this annual revenue to 8 billion baht (~$237M) by 2027.
#6
Coco & Eve: $78M in Annual Revenue
creating 100% natural beauty products
Coco & Eve was founded in 2018 by husband and wife team Emily Hamilton and Alexander Ostrowksi as a beauty brand, inspired by their time in Bali.
The business supplies vegan and cruelty-free body care, haircare, self-tanning and skincare products to a worldwide audience.
The DTC business model has proved incredibly successful in gaining early traction, as they really focused on social media exposure and influencer marketing to drive sales. As of September 2024, Coco & Eve boasts over one million Instagram followers and 296,000 on TikTok, which has helped many of their items go viral.
Aware of the need for a physical presence in stores, the business has partnered with some huge retail stores across the world and now sees its range stocked in the likes of Adore Beauty, Cult Beauty and Sephora.
Coco & Eve was initially bootstrapped by the couple who sold their family home in 2019 to support funding their global expansion. Five years later, it was announced that they had sold a majority stake in the brand to private equity firm Gauge Capital for $100 million.
In 2022, Coco & Eve generated $45 million in annual revenue, which increased to $78 million in 2023. This upward trend has continued with the business on course to exceed $120 million in annual revenue for 2024.
#7
Clean Skin Club: $47M in 2023 Revenue. $100M+ in 2024
Disposable face towels
With the impressive stat of having over one million customers for their disposable face towels, Clean Skin Club recently announced a $32M investment.
It's rare to see a beauty brand with such a singular product focus, but people clearly love what they've created.
Launched in 2019 by Mor Shnaider and Ben-David Imberman, they also revealed annual revenues of:
- $2.6M in 2020
- Almost $10M in 2021
- $47M in 2023
Unfortunately we don't have their 2022 numbers, but we do know they've surpassed $100M in revenue for 2024.
Their latest funding round aligns with the goal for the owners to make a retail push with their product, which is already found in Target.
#8
Revolution Beauty: $241M in Annual Revenue
affordable and cruelty-free products
Revolution Beauty is a UK-based beauty brand that was founded in 2014 by Tom Allsworth and Adam Minto.
The business, which now sells its own brand products in 75 different countries, produces and supplies cruelty-free hair care, makeup, and skincare items; with affordability being a key theme within its range.
One of the most significant driving forces of Revolution Beauty today is their brand collaborations with celebrities and other companies like Disney. These are shared across social media, with the brand building an audience of millions of followers across Instagram and TikTok.
Revolution Beauty - with a team of over 340 staff - returned to profitability recently, posting revenue of £191.3 million (~$241M) for the last financial year. This was an increase of just under 2% YoY as gross profit reached £88.4 million.
Interestingly, 33% of the brand’s sales still come from the UK, whilst 23% are from the United States and 44% from the rest of the world. With the fact that Revolution Beauty is sold in more than 17,000 stores worldwide, it perhaps shouldn’t be surprising that 78% of revenue comes from their retail outlets, with the other 22% (and rising) arriving from digital sales.
#9
Glossier: $300M in Annual Revenue
own-range beauty brand
Glossier is a beauty product brand which was founded in 2014 by Emily Weiss, following on from the success of her beauty blog, Into The Gloss, which she launched in 2010.
Emily began working on the blog full-time in 2012 after leaving her role at Vogue. She felt there was an opportunity to launch her own range in the beauty market based on insights from her interviews with actual product users.
This resulted in Glossier, which focuses on providing a core range of ‘superhero’ products - as new CEO Kyle Leahy described them - including skincare, makeup, fragrances, and even merchandise. They’re able to create huge demand for these lines, in part due to having four million followers across TikTok and Instagram.
The business initially concentrated on D2C sales through its website and social media audience but now has eleven retail outlets, with ten in the US and one in London. In February 2023, Glossier responded to customer demand and partnered with Sephora to feature in their stores, which has since driven over $100 million in retail sales.
In 2018, Glossier reached the milestone of $100 million in annual revenue and over a million new customers. Fast forward five years and Kyle shared that in 2023 they generated “nearly $300 million” in sales. Although she didn’t give an exact figure, we do know that the now profitable business - which has received over $266 million in funding since launching - will surpass this figure again in 2024.
#10
Glow Recipe: $300M in Annual Revenue
Fruit inspired skincare brand
Glow Recipe is a skincare brand that was founded in 2014 by Christine Chang and Sarah Lee after the pair met whilst working for L’Oréal in Seoul.
The duo combined $50,000 worth of savings and started their eCommerce business supplying a range of Korean beauty products. In 2017 they pivoted away from this concept and began to develop their own range of cruelty-free and vegan ‘fruit-forward’ products.
Today some of the most popular lines on the website include drops, serums and toners. This range of products makes up more than 75% of the brands total sales. They’ve since gone on to build retail partnerships with the likes of Cult Beauty, Mecca and Sephora.
Social media marketing has been a huge driver of sales for the business, where they have over 300,000 YouTube subscribers and 1.8 million followers on Instagram. The brand were also early adopters of TikTok, where they gained some real traction after creators shared their personal skincare routines, which included Glow Recipe products. They’ve since built on this to amass 1.5 million followers on the platform and continue to work with a large number of influencers.
The brand reported $60 million and $100 million annual revenue figures in 2020 and 2021 respectively. In 2023 Glow Recipe - with a team of over 70 staff - generated $300 million in revenue.
#11
e.l.f Beauty: $1B in Annual Revenue
cruelty-free focused beauty products
e.l.f Beauty is a beauty brand which was founded in 2004 by Scott Vincent Borba and Joseph Shamah.
The business was initially created to provide inexpensive beauty products to an audience of consumers who were savvy with certain aspects of their spending. This meant the initial range of e.l.f cosmetics featured 13 products at a $1 price point.
After originally selling their items in dollar stores, the business owners then created an eCommerce offering through their website to expand audience reach. Whilst online sales still make up around half of the company’s revenue, it now has a retail presence in 14 different countries. Today, their cruelty-free items can be found in stores such as Sephora, Target, and Walmart.
Since the early day of the business, their range has greatly increased and they've since created a series of purpose-built brands to showcase their products under the e.l.f Beauty umbrella.
- e.l.f Cosmetics - focusing on beauty
- e.l.f Skin - focusing on skincare
- Keys Soulcare - premium beauty products by Alicia Keys
- Well People - plant-based cosmetics and skincare
It was announced in October 2023 that the business had extended their portfolio further as they completed the acquisition of skincare brand Naturium for $330 million.
For the financial year ending in 2024, e.l.f Beauty reached over $1 billion in annual revenue, with profits rising to $724 million from $390 million the previous year. For 2025, fiscal year projections place revenue at between $1.31 - $1.33 billion.
