Julep, social media-fueled beauty brand, gets funding boost from Silicon Valley firm
SEATTLE — A growing beauty brand led by a former executive from Starbucks has secured more than $10 million in financing from a Silicon Valley venture capital firm.
Julep Beauty, founded by Jane Park, said it received $10.3 million in Series B financing from Andreessen Horowitz, led by former Netscape co-founder Marc Andreessen. Maveron — the venture capital firm co-founded by investor Dan Levitan and Starbucks chairman and CEO Howard Schultz — participated in the funding.
"I started Julep out of a passion for connecting with my sisters and girlfriends through beauty," Park said. "For me, beauty is about connection, not competition. So my vision is to bring a new social approach to the beauty industry by having a two-way conversation online with our fans, incorporating their ideas directly into our rapid product innovation cycle."
Park has grown Julep as a multichannel brand fueled by digital and social media, the company said, saying that "unparalleled innovation" and speed-to-market, coupled with vocal social media engagement instead of traditional marketing, have enabled it to produce more products in 18 months than any other beauty company. In that time, the company has launched 52 new beauty products, including mascaras, lip glosses and glycolic scrubs, as well as 186 nail colors.
Olay seeks to reinvent Pro-X line with consumer contest
NEW YORK — Olay, a Proctor & Gamble company, is holding a special online contest that seeks ideas and proposals to reinvent its Olay Pro-X line of skin care products.
Idea proposals can address any number of categories, including: the Pro-X story and how and where it is presented; the existing products and ideas on new Pro-X products; the packaging and the labeling; the Olay Pro-X shopping experience, whether it be live and in person, retail or online. Everything about Olay Pro-X is fair game, as long as it makes Pro-X more appealing to women.
Olay Pro-X products aim at higher-income women, professionals and entrepreneurs, ages 25 years and older. A team of Proctor & Gamble cosmetic scientists and world-renowned dermatologists will evaluate the ideas. The goal is to push the nexus of science and beauty forward and create a breakthrough that energizes the Olay Pro-X brand. The contest is open to residents ages 18 years and older who live in the United States or Canada.
A team of P&G top management executives and skincare experts will choose the winners. Participants also are invited to evaluate the designs in the competition online and assign a vote, and these community votes also will be a factor in winner selection.
The evaluation criteria are relevance to the contest topic, uniqueness, desirability, effort, inspiration, feasibility and "Wow! Factor."
The first-place contestant will garner a grand prize of $5,000 in cash; second place: $2,500; third place: $1,500; and fourth- through tenth-place winners will receive such nonmonetary prizes as P&G gift baskets and vouchers; and the MVP, or most valuable participant, will receive a special citation from the VP of Procter & Gamble North America. Winners will be announced on April 30, 2013.
For more information go to CoCreate-PG.com.
La Roche-Posay introduces less messy, less greasy sunscreens
NEW YORK — La Roche-Posay has developed two new sunscreen formulas designed to address consumer concerns that suncreens are generally too messy, sticky or greasy. The company launched Anthelios 60 Ultra Light Sunscreen Fluid for face and Anthelios 60 Melt-In Sunscreen Milk for body, with a new technology: Cell-OX Shield XL.
The Cell-OX Shield XL technology provides dual protection against exposure to harmful UV rays that can lead to short-term and long-term damage to skin cells, including skin cancer and premature aging. This two-pronged approach incorporates a patented combination of five sun filters, as well as antioxidants to further protect skin on a cellular level.
The first line of defense features a combination of UV filters enhanced with a stabilizing performance booster to deliver photostable and broad-spectrum protection (SPF 60/PPD 26) against UVA and UVB rays. The second line of defense consists of an antioxidant complex that includes Senna Alata, a plant extract indigenous to tropical regions, which has a self-defense mechanism that protects against cell damage.
In addition to using fewer ingredients and Cell-OX Shield XL, Anthelios 60 Ultra Light Sunscreen Fluid and Anthelios 60 Melt-In Sunscreen Milk feature another improvement: they are now water-resistant for up to 80 minutes — the maximum time recognized by the FDA. Additionally, both formulas are paraben-free, noncomedogenic, fragrance-free and dermatologist-tested on allergy-prone and sensitive-skin.
La Roche-Posay Anthelios 60 Ultra Light Sunscreen Fluid with Cell-Ox Shield XL (SRP $29.99) and Anthelios 60 Melt-In Sunscreen Milk with Cell-Ox Shield XL (SRP $35.99) can be purchased at CVS/pharmacy, select ULTA, Walgreens, Duane Reade, Target locations, physicians’ offices and online at LaRoche-Posay.us beginning in April 2013.