Unilever Ventures backs Beauty Bakerie Cosmetics Brands
Beauty Bakerie, a brand of long-lasting cosmetics, has closed a $3M seed round led by Unilever Ventures and joined by institutional investors 645 Ventures and Blue Consumer Capital. Notable individual investors include Kenneth Chennault (CEO of American Express), Kevin Chennault, Adebayo Ogunlesi (Chairman & Managing Partner at Global Infrastructure Partners), William M. Lewis (Managing Director and Co-Chairman of Investment Banking at Lazard Ltd.) and Charles Phillips (Former Co-President of Oracle Corporation & Current CEO of Infor). The funding was closed on the investment platform CircleUp.
“Beauty Bakerie’s story is one of perseverance and survival, led by a truly passionate and creative CEO. Cashmere has built an all-star team that will continue to be disruptive and innovative in the cosmetics space and I am thrilled to be joining them in their journey,”
says Kenneth Chennault, Chief Executive Officer of American Express.
Attracting the attention of venture and strategic investors, Beauty Bakerie is disrupting the industry with high-quality and worry-free formulas based on the proposition of being “Better not Bitter.” Anna Ohlsson-Baskerville, Director at Unilever Ventures said: “We have been impressed by Beauty Bakerie’s ecommerce led model and consistent digital growth as well as the strong engagement of the brand’s millennial consumer base. I look forward to working with Cashmere and the management team to build upon the company’s momentum and many growth opportunities.”
Beauty Bakerie was one of 12 companies recently picked by The Beauty & Money Summit selection committee to receive its Spotlight Awards. Applicants for the awards were from both mass and prestige independent beauty brands in color cosmetics, skin care, hair care, fragrance, bath & body and beauty devices.
Founded by millennial Cashmere Nicole and addressing the needs of a largely-millennial demographic, Beauty Bakerie has gained a strong online following by engaging a like-minded tribe with a sweet tooth for makeup. “We are extremely honored, fortunate and grateful for the opportunity to partner with such exceptional investors whose proven track records can only lend to the growth of this brand and to the growth of our team,” says Cashmere. A hidden gem of indie cosmetics, the bakery-inspired line includes best-selling products ranging from liquid lipsticks, setting powder, and highlighters to eyebrow gel, eyeshadows, and eyeliners.
A digitally-native brand, they’ve garnered a massive Instagram following of over 400,000 users not just by enhancing the customer experience and prioritizing engagement, but more importantly, by doing so with positive messaging and altruistic donations to social causes their customers care most about.
Beauty Bakerie will utilize the investment to further develop its product offering and to continue to grow its devoted consumer base. Beauty Bakerie will be launching in 10 doors of Forever 21’s new chain Riley Rose, on QVC UK, HSN, in Sephora SEA, and in 40 of Wojooh’s doors in the UAE and KSA by Q4 2017.
For futher information, please visit www.beautybakerie.com