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Digitally native, millennial-driven color brand is rolling out to more doors in Q4.
October 16, 2017
By: Christine Esposito
Editor-in-Chief
Beauty Bakerie has closed a $3 million seed round led by Unilever Ventures and joined by institutional investors 645 Ventures and Blue Consumer Capital. The funding was closed on the investment platform CircleUp. Bakerie offers high-quality and worry-free formulas based on the proposition of being “Better not Bitter.” Founded by Cashmere Nicole and addressing the needs of a largely-millennial demographic, Beauty Bakerie has gained a strong online following by engaging a like-minded tribe with a sweet tooth for makeup. The brand has garnered a massive Instagram following of more than 400,000 users. “Beauty Bakerie’s story is one of perseverance and survival, led by a truly passionate and creative CEO. Cashmere has built an all-star team that will continue to be disruptive and innovative in the cosmetics space and I am thrilled to be joining them in their journey,” said Kenneth Chennault, CEO of American Express, one of notable individual investors. Others included Kevin Chennault, Adebayo Ogunlesi (chairman and managing partner at Global Infrastructure Partners), William M. Lewis (managing director and co-chairman of investment banking at Lazard Ltd.) and Charles Phillips (former co-president of Oracle Corporation and current CEO of Infor). “We have been impressed by Beauty Bakerie’s ecommerce led model and consistent digital growth as well as the strong engagement of the brand’s millennial consumer base. I look forward to working with Cashmere and the management team to build upon the company’s momentum and many growth opportunities,” said Anna Ohlsson-Baskerville, director at Unilever Ventures. Beauty Bakerie was one of 12 companies recently picked by The Beauty & Money Summit selection committee to receive its Spotlight Awards. Applicants for the awards were from both mass and prestige independent beauty brands in color cosmetics, skin care, hair care, fragrance, bath and body and beauty devices. Beauty Bakerie will utilize the investment to further develop its product offering and to continue to grow its devoted consumer base. The firm will be launching in 10 doors of Forever 21’s new chain Riley Rose, on QVC UK, HSN, in Sephora SEA, and in 40 of Wojooh’s doors in the UAE and KSA by Q4 2017.
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