Failed 2024

    Ipsy/BoxyCharm (BFA Industries)

    Beauty subscription boxes grew to $1B+ revenue but consumers eventually tired of receiving products they didn't choose.

    Founded → Closed

    2011 → 2024

    Funding Raised

    $500M

    Industry

    E-commerce/Beauty

    Country

    USA

    IdeaProof AI Failure Score

    58/100
    Market Fit RiskBurn Rate RiskFounder Risk
    Market Fit Risk
    55
    Burn Rate Risk
    65
    Founder Risk
    25

    Full Analysis

    Ipsy and BoxyCharm (merged as BFA Industries) were leading beauty subscription box services, at one point collectively generating over $1B in annual revenue. But subscription box fatigue set in — consumers wanted to choose their own products, not receive mystery boxes. Churn increased, growth stalled, and the company dramatically downsized by 2024.

    Could This Failure Have Been Prevented?

    IdeaProof's AI validates market demand, competitive positioning, and business model viability in minutes — catching the exact issues that sank Ipsy/BoxyCharm (BFA Industries).