Ipsy

IPSY is a prominent beauty subscription service and ecommerce platform based in the United States, founded in 2011 by YouTube beauty influencer Michelle Phan along with co-founders Marcelo Camberos and Jennifer Jaconetti Goldfarb. The company specializes in personalized monthly delivery of curated beauty products including makeup, skincare, perfumes, nail products, and personal care items tailored to customer preferences through a proprietary beauty quiz and predictive algorithms.

IPSY operates primarily via membership subscription tiers, including the original Glam Bag subscription delivering deluxe-size samples, Glam Bag Plus (now BoxyCharm), and Glam Bag Ultimate (later renamed Icon Box), offering various assortments of full-size and deluxe samples. The platform also features an ecommerce shop providing members with discounted full-sized beauty products, including IPSY’s own brands such as Complex Culture and Refreshments, which focus on vegan, cruelty-free, and allergen-free formulations.

The company has a significant presence in the U.S. market with a relatively small number of physical distribution centers or warehouses to support its primarily online subscription and ecommerce business. IPSY merged with BoxyCharm in 2023 under the IPSY umbrella, creating a broader portfolio in the beauty subscription segment. Their operations emphasize data-driven personalization and innovative beauty discovery experiences, leveraging influencer collaborations and celebrity-curated boxes.

Financially, IPSY is estimated to have annual revenues in the range of €110 million to €120 million (converted from reported $105.6 million in recent data) as of 2024, maintaining a workforce of approximately 200 to 499 employees in the United States. Its business model centers on delivering value through personalized product selection and fostering community engagement among beauty consumers.

By combining subscription services with ecommerce sales and continuing product innovation, IPSY remains a major player in the U.S. beauty and cosmetics market, appealing both to consumers keen on discovering new beauty products and to manufacturers seeking robust distribution channels within the fast-moving consumer goods (FMCG) beauty sector.