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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
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Birchbox is selling its own makeup now

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Laura Lorenzetti
Laura Lorenzetti
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By
Laura Lorenzetti
Laura Lorenzetti
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October 14, 2015, 11:32 AM ET
Courtesy of Birchbox
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Birchbox is ready to go beyond the box with its newest in-house makeup line called LOC.

The company, which got its start as a monthly subscription service, is now joining the ranks of much larger competitors like Sephora and Ulta (ULTA) by launching its own brand, reported Bloomberg. LOC, which stands for Love of Color, will include sets of lipstick and eyeshadow that will retail between $22 and $49. Individual lipsticks and eyeshadows will cost between $8 and $10 each.

The products are smaller sizes that are meant to be used up within a few months so that the consumer doesn’t feel like they are wasting product and will be ready for the next color trend. Birchbox plans to launch a new set of colors every six months.

The move to create its own brand allows Birchbox the freedom to address beauty trends each season without needing to rely on other labels. Birchbox CEO Katia Beauchamp saw the new launch as an extension of what the company has already been doing.

“We’ve been working closely with so many of our brands for many years with product development,” Beauchamp told Bloomberg. “We saw an opportunity that we thought was interesting in color.

The LOC line was created by an internal team of product development experts and was conceived in partnership with Tati Westbrook, the YouTube star whose GlamLifeGuru channel has over 700,000 subscribers.

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