Birchbox acquired by US health and wellness firm
Beauty box brand Birchbox has been acquired by US health and wellness firm FemTec, with plans to reinvent the company's subscription model by introducing individualised health and wellness items.
Under its new ownership, the beauty subscription service will ask its subscribers to share personal health information, collecting data through skin tests and using it to focus on relevant skincare, supplements and other products.
Kimon Angelides, Executive Chairman of FemTec Health, said: "We will have gathered information, so you don’t have to see thousands of products. We’ll make suggestions on the things that match your biology and match your life stage."
Birchbox will see the departure of Co-founder Katia Beauchamp as Chief Executive. She will sell her remaining stake in the company and become a strategic advisor.
Katia Beauchamp commented: "I have always believed in the power of women as a community, and I believe this is a natural step in the evolution of Birchbox. Eleven years ago, we were compelled by an ability to build deep customer relationships month after month. FemTec's vision for the future of women's healthcare was inspirational to me and I could see the opportunity for the thousands of women in the Birchbox community to extend beyond consumer beauty products to a more holistic health and wellness offering."
FemTec specialises in software, diagnostics, products and services that use technology to focus on women's health. To power its recommendations, FemTec has acquired tech startup Mira AI for $28 million, which uses data and artificial intelligence to match a consumer’s attributes with beauty products and content they might find relevant.