Beauty subscription service bellabox has announced the appointments of Stephanie Michel and Carmel Morganti into new leadership roles to support the company’s growth plans. Former bellabox ecommerce director Michel has been promoted to Chief Marketing Officer, while ex-News Corp Group sales director Morganti will assume the role of commercial director. Together they will help drive member acquisition, secure strategic brand partnerships and build a product-sourcing pipeline.
The news comes seven months after Fairfax subsidiary Allure Media put $6 million into the company, taking total capital raised by the company to $7 million, Other investors in bellabox include Yes To Carrots co-founder Lance Kalish, Elevation Capital, SquarePeg Ventures and Apex Capital Partners.
Bellabox was founded in October 2011 by Sarah Hamilton (featured) and her twin sister Emily Hamilton. The company has since grown to become the leading beauty subscription service in Australia with 70 percent market share.
At the time of its last capital raise, bellabox had 40,000 active subscribers across Australia and Singapore who pay a monthly fee of AUD$15.00 and SG$19.95 for a themed box of a dozen different beauty and lifestyle-related products from brands like BurtsBees, Kevin Murphy and Aveda. Based on these figures, and given active subscribers are paying at least the standard amount, it would be safe to say that bellabox was generating at least $550,000 per month.
The company claims to have grown 45 percent in the current financial year, and aims to hit 70,000 within 12 months. Once bellabox reaches that goal, monthly revenues will surpass $1 million.
Sarah said the new appointments are critical ensure the company maintains momentum as it transitions from early-stage startup to late-stage startup and embarks on a more aggressive growth mission across Australia and Singapore.
“While we continue to have strong organic growth, we believe there is still a massive opportunity to focus on building customer acquisition and working with brands that have not yet partnered with bellabox to get their products into the hands of potential customers,” Sarah stated in a media release.
As Chief Marketing Officer, Michel will lead the marketing team across Australia and Singapore, positioning bellabox as a beauty authority for members and brand partners. She will also oversee the business’ online performance strategy and ensure customers’ online and offline experience are best.
Morganti, who brings 16 years of sales leadership experience from News Corp Australia, will be charged with leading the brand partnerships team to build and grow relationships with iconic cosmetic suppliers, manufacturers and beauty brands.
“We are confident the ladies’ combined expertise and local market knowledge make them a natural fit for their roles to take our relationships with customers and product partners to the next level,” said Sarah.