Sep 26, 2019, 10:00 ET
SAN MATEO, Calif., Sept. 26, 2019 /PRNewswire/ -- IPSY, the largest and most engaged beauty subscription in the world, and third largest subscription service after Amazon, has announced today revenues of over $500 million and an armory of new innovations for its loyal subscriber base.
Founded in 2011, IPSY reached profitability within its first six months, and has since garnered over three million monthly active subscribers. Far beyond a traditional subscription, IPSY continues to leap ahead of retail giants by combining a rich community platform with a highly personalized commerce experience.
As a community-first brand, IPSY sought to create real experiences that bring the community together and to develop unique content that resonates with its members at a personal level. IPSY accomplishes this through experiential activations hosted in local cities each month, through custom content developed at their 20,000 square foot LA studio, and by leveraging creators from virtually all walks of life who inspire individuality and self-expression.
"When we started IPSY, we wanted to provide a platform for individuals to freely exchange ideas and connect with one another. It was about shifting the balance of power from one to many and democratizing what was a very authoritarian industry," says IPSY's Co-Founder and CEO, Marcelo Camberos. "We really listen and lean into our community, and we are incredibly proud to announce a new suite of features that were inspired by them."
Last year, IPSY launched its first full-size subscription with Glam Bag Plus, a $25 offering for five full-size beauty products worth over $120, based on direct requests from their subscribers. Today, IPSY is further expanding its portfolio with the introduction of Glam Bag Ultimate, a new subscription for the "beauty-obsessed" consumer, featuring 12 products valued at over $250 for just $50 a month.
IPSY also released an enhanced Beauty Quiz to account for specific member preferences around the desired frequency of each product category. This, along with the more than 160 million product reviews that IPSY has gathered to date, will help train machine learning algorithms that personalize each member's Glam Bag experience. These are just a few of the initiatives that continue to inform and optimize the proprietary IPSY MATCH technology that is foundational to the brand.
In addition, starting with the October Glam Bag, members will also be able to choose one of the products they will receive each month, with the option of adding up to five additional samples ($3 each) or full-size products ($12 each) that will come with their monthly delivery. Giving members the opportunity to customize their bags works on multiple fronts: it caters to member demands for greater control, while also giving IPSY significant information about their individual preferences.
"For us, personalization isn't just about delivering what you already know and love, it's about predicting your needs and anticipating your wants before you do," said IPSY's Co-Founder and Chairwoman, Jennifer Goldfarb. "We leverage every single piece of feedback and datapoint available to evolve how we're able to delight our members and truly personalize their experience."
IPSY, the largest beauty subscription in the world, has more than three million monthly active members, and has shipped over 1 billion products. IPSY's signature Glam Bags deliver personalized beauty products that fit each member's lifestyle. Founded in 2011 with the mission of inspiring everyone to express their unique beauty, IPSY strives to make beauty more inclusive and welcoming to all. With an avid community over 25 million strong, more than 160 million product reviews, and more than half a billion content views every month, IPSY has created the ultimate beauty discovery platform. Learn more at IPSY.com.
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