Ipsy Acquires Beauty Subscription Competitor Boxycharm: The combined business is expected to have $1 billion in sales.

"Ipsy is acquiring Boxycharm. The companies will live under new parent company Beauty for All Industries, which expects more than $1 billion in sales for 2020. Ipsy was cofounded by Michelle Phan, one of the first major content creators on YouTube. The business started with Glam Bags, which contain full-sized beauty products, and gradually branched into other areas, like e-commerce and its own brands. The company has been backed by private equity firm TPG since 2015, and reached $500 million in sales in 2019. The BoxyCharm deal is expected to close by the end of the year. Morgan Stanley advised BoxyCharm on the deal. The business had been backed by private equity firm KarpReilly since 2017."

Edited to add link to MySubscriptionAddiction which has more info: https://www.mysubscriptionaddiction.com/2020/10/fyi-ipsy-acquired-boxycharm-new-subscription-coming-soon.html