Grupo Pegasus Invests US$10m in Colombia's Blush-Bar
Summary
(Press Release) Blush-Bar, the pink cosmetics retailer in Colombia, receives investment from Grupo Pegasus, a private business group that develops, manages and invests in enterprises across Latin America.Founded in Bogot\xe1 in 2015 by Claudia Lloreda, Blush-Bar is one of the leading female-led startups in the country and was awarded the first Endeavor Women with Impact Prize in 2017. According to Euromonitor international, between 2015 and 2017, specialty multi retailers increased their market share from 10% to 15% versus traditional department stores and perfumeries.Specialty multi is at the heart of Blush-Bar: our focus is makeup and skincare, our stores are experiential and our Makeup Artists are cross-trained across brands, affirms Jose Grajales, Director of Retail and New Business Development at Blush-Bar.Blush-Bar offers a unique portfolio of the best and most innovative beauty brands in the world. We found ourselves particularly drawn to Blush-Bars strong brand DNA, relevance vis-a-vis the consumer, and the exceptional track record of its management team, affirms Hernando Forero, Partner at Grupo Pegasus.Currently, Blush-Bar employs 55 people across its corporate team and stores. Blush-Bars corporate culture and values are clear and guide all execution: consumer focus, entrepreneurial spirit, tenacity, integrity and a commitment to excellence, creativity and innovation.With more than 165,000 followers on Instagram, Blush-Bar is razor-focused on digital to reach its core audience: the Millennial and Gen Z consumer who loves makeup and skincare. Grupo Pegasus portfolio companies generate thousands of indirect and direct jobs across Argentina, Uruguay, Brazil, Chile, Paraguay, Bolivia, Colombia, Mexico and the United States.