Leading Local Beauty Website Rubybox Receives Investor Funding
Submitted by: lawrenceHaving taken the local beauty market by storm, rubybox (rubybox.co.za) the innovative, try-before-you-buy beauty subscription start-up announced today that they have received funding from venture capitalist, Hasso Plattner Ventures Africa.
"rubybox is both a pioneer and a leader in subscription e-commerce in South Africa," says Sol Bezuidenhout, Hasso Plattner Ventures Africa. "From the strong partnerships they've formed with the world's greatest cosmetic brands to their thousands of dedicated subscribers, we believe rubybox has infinite opportunities for continued growth, and we look forward to playing a role in their success, and the success of their partners."
Created by co-founders Sylvia Gruber and Margaux Knuppe, rubybox brings together business and beauty brains; Gruber has her Master's in business and has worked at L'Oréal and P&G in Europe, while Knuppe is the ex-beauty editor of one of SA's most popular fashion and beauty magazines. Together they head up an all-female team with a passion for beauty.
Additionally, as part of the investment, rubybox is acquiring GlamBox SA, their major current competitor in the beauty box market, thus making rubybox the dominant market player in the online beauty box market in South Africa. "We are thrilled about the investment as we're certain it, together with our 360 degree approach that pairs trial and education which leads to re-purchase, will help us grow rubybox to be the leading content-driven e-commerce beauty site in South Africa," says Sylvia Gruber, rubybox Co-Founder and CEO.
Launched in September 2011, rubybox has seen increased month-on-month growth in paid subscribers across South Africa, which has resulted in thousands of active subscribers and shoppers. The company has partnered with more than 50 international and local beauty brands such as L'Oréal group, African Sales Company and Elizabeth Arden. Going forward their focus is to grow their e-commerce offering through a targeted beauty profile shopping facility and alongside their business-to-business offering which builds reach and relationship with beauty consumers for their brand partners.
About rubybox
A unique way for women to try-before-you-buy; rubybox members pay a monthly subscription fee of R100 to receive a monthly box containing personalised, deluxe beauty samples from top international and local beauty brands such as L'Oréal group, Elizabeth Arden and Africology. In addition to the samples, the rubybox team publishes educational content in their online magazine enabling members to get more out of their rubybox experience, while encouraging them to become their own beauty pros. Once members have found a product they love, they can purchase the full-size version in the online boutique.