The Venture Capital of Beauty
Canada is exceptionally good at the game of beauty startups, as yesterday's report that Fusion Brands has sold a controlling interest for $45 million indicates. Fusion Brands is run by a handful of people under the control of Ottawa entrepreneur Randi Schinder. The company is a conglomeration of products Randi has developed over the years, including Clean Perfume and Jessica Simpson's Desserts products (an unfortunate set of 'edible" beauty products that, very fortunately, made a ton of money). With just a handful of people, Fusion Brands in Ottawa generated $100 million in revenue, Ms Shinder told the Ottawa Citizen. That's a lot of moisturizing body whip.
I work with a number of beauty startups, including my own. I love this group of clients: they smell good and bring samples(other clients, take note: no need to drop off wavelength multiplexers for me to try. Still working on my last one.). Toronto is fast becoming a significant centre of independent beauty brands - watch this space for further developments.