18 Aug / Winky Lux – Yahoo Finance – 4 August 2017
WINKY LUX Raises M to Become The “Zara Of Cosmetics”
Raising $2M in a Seed Round of Funding Will Allow The Young Beauty Brand To Double Down on Explosive Digital Growth.
NEW YORK, Aug. 4, 2017 /PRNewswire/ — WINKY LUX, a digitally native Gen-Z beauty brand known for its whimsical packaging and rapid-fire innovation, has raised $2 million in seed funding led by Female Founders Fund (“F3”). Other notable investors include venture capital firms BBG Ventures, GGV, SoGal Ventures and TGZ Capital, a new fund whose managers include celebrity YouTuber Cameron Dallas.
In addition to the sales on WinkyLux.com, the WINKY LUX brand is sold in more than 1000 global retail locations including top retailers like Nordstrom, Bloomingdales, and Mecca Maxima. In the fall it will be an anchor offering in the hotly anticipated “Riley Rose” beauty concept store created by Forever 21. Known to its customers by the hashtag #ItsAWinkyWorld, the less-than-two year old brand has cultivated a fanatical following of young consumers seeking luxury experiences at an approachable price.
WINKY’s ability to leverage the accessibility of the brand in both technology and traditional sales is what attracted the interest of the investing partners, who saw an opportunity to help the company continue to build a digital beauty brand with the perfect combination of both traditional retail and a digital-direct e-commerce model. “As a nascent brand, WINKY LUX has been able to successfully tap into today’s digital customer and we are excited to work together for this next phase of growth.” Anu Duggal from Female Founders Fund.
Funds will be used to expand digital campaigns, increase the product offering and open the first WINKY LUX pop-up shop in lower Manhattan. WINKY LUX will continue to acquire customers through influencer collaborations and trend driven content, and with their unique supply chain, new products can be developed and launched in as little as 45 days. This fast production cycle allows the brand to leverage trends at the speed at which they happen.
“We’re thrilled to partner with like-minded investors who have track records of backing great innovation. Our goal is to provide a beautiful luxury experience to our customers through data driven personalization, indulgent packaging and extraordinary experiences both online and offline. Our customer’s happiness is paramount and our new partnerships will increase our ability to captivate and delight her,” says co-founder Natalie Mackey.
About Winky Lux is a fast-to-market cosmetics brand that launched in October 2015. All of the products are paraben free, cruelty-free, non-toxic and heavily pigmented. The collection consists of lip pills, glosses, eye palettes, complexion powder, blush, rainbow brow palettes and the innovative Flower Balm lip balm. Each product is indulgently packaged in custom white lacquer, silver, and gold and comes in a luxurious box. High color payoffs, long-lasting wear, and silky finishes create the ultimate beauty experience.