Photography by Emmet Malmstrom
From social apps to online games, Facebook has inspired countless ventures. But Birchbox, founded by Hayley Barna and Katia Beauchamp, may be the first that is of, by and for the Facebook generation.
In true Social Network fashion, the two hatched a
new e-commerce model for beauty products during their last semester at
Harvard Business School in 2010. With their concept for
subscription-based monthly goody boxes packed with four to five
deluxe-size sample products, the co-CEOs, both now 30, appear to have
solved the health and beauty industry's online sales problem.
New York City-based Birchbox is many things, depending upon perspective. For consumers, it's a chance to sample new products for a small fee and to replenish products they already enjoy. For its health, beauty and lifestyle partner companies, the service is a way to reach new customers and further engage existing ones. And for the founders, it's a platform that connects consumers and brands.
Investors love the multifaceted approach. Birchbox has received $11.9 million in funding from financiers including Accel Partners (early investors in Facebook and Groupon), branding guru Gary Vaynerchuk and Path CEO Dave Morin.
The idea for Birchbox came to Barna and Beauchamp when they noticed
that discount internet commerce had left the beauty industry behind.
"The internet is good at what it's always been good at, which is
replenishing things, but it's particularly bad at a first-time
purchase," Beauchamp says. "We saw that as a huge opportunity."
They also were struck by how Barna's best friend, a beauty editor, would sift through the products on the market to curate goods for her pals. "We realized that every woman wanted that experience," Barna says. Pairing this editor/friend concept with the idea of soliciting free samples from brand partners, Birchbox was born.
But first the duo had to convince manufacturers to donate enough trial-size products for Birchbox to conduct a two-month beta test. They began by cold e-mailing their favorite beauty brands a concise description of their concept under the subject heading "Re-imagining Beauty e-Commerce." The one-page letter led to phone calls and meetings. Beauchamp's first conversation was with Jean-Andre Rougeot, CEO of cosmetics company Benefit. "I thought that he was really negative about the idea, because he was just trying to poke holes in it very deliberately," she says. "But at the end, he said he was in … and if this worked it could really change the industry."
New York City-based Birchbox is many things, depending upon perspective. For consumers, it's a chance to sample new products for a small fee and to replenish products they already enjoy. For its health, beauty and lifestyle partner companies, the service is a way to reach new customers and further engage existing ones. And for the founders, it's a platform that connects consumers and brands.
Investors love the multifaceted approach. Birchbox has received $11.9 million in funding from financiers including Accel Partners (early investors in Facebook and Groupon), branding guru Gary Vaynerchuk and Path CEO Dave Morin.
Katia Beauchamp (left) and Hayley Barna of Birchbox
They also were struck by how Barna's best friend, a beauty editor, would sift through the products on the market to curate goods for her pals. "We realized that every woman wanted that experience," Barna says. Pairing this editor/friend concept with the idea of soliciting free samples from brand partners, Birchbox was born.
But first the duo had to convince manufacturers to donate enough trial-size products for Birchbox to conduct a two-month beta test. They began by cold e-mailing their favorite beauty brands a concise description of their concept under the subject heading "Re-imagining Beauty e-Commerce." The one-page letter led to phone calls and meetings. Beauchamp's first conversation was with Jean-Andre Rougeot, CEO of cosmetics company Benefit. "I thought that he was really negative about the idea, because he was just trying to poke holes in it very deliberately," she says. "But at the end, he said he was in … and if this worked it could really change the industry."
Read more: http://www.entrepreneur.com/article/227835#ixzz2dZ2lyvRd
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