FemTech sells Birchbox only two years after acquisition - Indoors Beauty

FemTech sells Birchbox only two years after acquisition

FemTech sells Birchbox only two years after acquisition

The funding agency FemTech has offered subscription field firm Birchbox, which it acquired in 2021 for $45 million, to Retention Brands for an undisclosed sum.

The magnificence subscription service’s belongings had been bought by Retention manufacturers in an open-bid course of by means of an project for the good thing about collectors. However, particulars of the sale are but to be disclosed.

Founded within the US in 2010 by Harvard graduates Katia Beauchamp and Hayley Barna, Birchbox was a pioneer in magnificence sampling and spawned a number of copycat companies and companies. At the peak of its success, Birchbox was stated to be price round $500 million and had 2.5 million energetic customers throughout the globe and partnerships with 800 manufacturers.

FemTec Health stated in an announcement that the sale of Birchbox got here as a part of its “strategic tightening round core healthcare companies”. It famous that Birchbox got here among the many firm’s “underperforming belongings”.

Retention Brands is an organization that acquires and invests in subscription commerce, eCommerce marketplaces, & client manufacturers. The sale comes after complaints about Birchbox’s service. Customers claimed that their orders hadn’t been fulfilled.

In November 2022, Birchbox halted orders on its UK web site amid reviews it was investigating the opportunity of coming into Chapter 11 chapter safety within the US.

A discover on the retailer’s UK web site learn “Birchbox is dealing with a number of unprecedented setbacks which might be affecting all our members. We presently are not fulfilling orders or transport subscription packing containers. We will replace our members sooner or later when we have now extra data out there.”

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