Blue Gem acquires Instagram startup beauty player ICONIC London
This is the latest beauty acquisition to Blue Gem’s growing portfolio in the sector, and follows the purchase of QMS Medicosmetics last year.
Blue Gem says its investment will support a ‘huge US roll out’ for ICONIC London later this year, and support the growth the the brand’s retailer portfolio in the UK, which currently includes Harvey Nichols, Fortnum & Mason, and Cult Beauty.
ICONIC London: what's all the fuss?
ICONIC London was launched via Instagram and attracted purchases from influencers like thee Kardashians, Jennifer Lopez and Meghan Markle, the brand says. In three years, it has attracted over 800k global followers.
The brand has become known for staying ahead of the curve with product trends and launches.
It was the first to market liquid highlighter as an ‘illuminator’ product, which is a term now used industry-wide.
The company says its latest launch - Prep, Set, Glow Spray - sold out within six hours of launch in April this year, and sells consistently every 60 seconds worldwide.
The brand website has attracted over 9 million global visitors and 250k orders to date, with a demographic of 18-24 year old women - 60% UK, 30% US and 10% AU & Middle East.
The brand is the number one brand in Harvey Nichol’s Self-Select area.
Founder stays on
Jade Elliott, ICONIC London Founder, will stay on at the helm of the brand, continuing her role as founder & creative director where she will lead NPD.
“I have always believed in ICONIC and am so proud of what it has become having only started the brand three years ago from my bedroom - but the time hass come to take ICONIC to the next level with the right investment,” she says.
“ICONIC has been the most incredible journey and I cannot wait to embark on the next stage with Blue Gem’s support.”
Selma Terzic, previously General Manager at MAC & MD at St Tropez & PZ Cussons joins as CEO, to manage and grow global retailers and support brand growth.
