Vegan, cruelty-free color cosmetics brand Half Magic announces the closing of the new investment round led by Alliance Consumer Growth.
Half Magic, the Vegan and cruelty-free color cosmetics brand, announced the completion of its investment round led by Alliance Consumer Growth (ACG), a leading consumer investor. The new investment round also saw participation from A24, Imaginary Ventures, and Access Entertainment.
ACG’s investment in Half Magic has resulted in a minority stake in the company, although the exact amount of the investment has not been disclosed.
Half Magic Beauty is a Vegan, cruelty-free color cosmetics brand founded by the American teen drama television series Euphoria’s makeup artist Donni Davy. The brand offers a range of products including lipsticks, eyeshadows, and blushes that are cruelty-free, paraben-free, and made with natural ingredients. Half Magic Beauty has garnered attention for its bold and vibrant shades, as well as its commitment to sustainability and ethical practices.
The funds raised in the investment round for Half Magic will be used to support the brand’s growth, including its expansion into brick-and-mortar retail later this year. The brand’s innovative approach combines beauty and entertainment in a unique way, and the investment will help to fuel its growth and success.
Michelle Liu, General Manager of Half Magic, said: “The funding will help the brand drive further awareness with key talent partnerships, as well as prepare for a retail launch in the U.S. later this year. We expect these initiatives to prepare the brand for high growth over the next 24-36 months.”
Julian Steinberg, Managing Partner of ACG, commented: “We are thrilled to be part of this exciting era in the makeup and beauty industry, and we take immense pride in backing HALF MAGIC. The brand sets a new standard for excellence, surpassing others in the industry by offering unparalleled formulas at an incredible value and the ability to resonate with trending demographic forecasts.”
ACG’s beauty investment portfolio includes several well-known brands, such as Innbeauty Project, NudeStix, and Pacifica. ACG has partnered with several notable brands as an early investor, such as OUAI Haircare, Milk Makeup, and Tata Harper, all of which were later acquired by major companies like Procter & Gamble, Waldencast, and Amorepacific, respectively.