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Alchemy 43 Hammers Out Growth Strategy

The aesthetics bar plans to have 50 stores within the next six years.

Alchemy 43 is adding two locations in Los Angeles, with plans to expand its accessible approach to microtreatments and injectables soon to Manhattan. The blueprint for growth includes 10 new stores in 2019 on the way to 50 within the next six years.

Next month, the aesthetics bar’s third and fourth sites will open in Santa Monica and West Hollywood. New York is on the radar for the fall, along with plans for Orange County, Dallas and the San Francisco Bay Area.

Often dubbed the Drybar of Botox, Alchemy 43’s growth comes at a pivotal time for noninvasive procedures. According to Market Research Future, the dermal fillers market is expected to grow at an annual rate of 12.6 percent through 2022. Alchemy 43, which takes its name from the number of muscles in the face, specializes in neuromodulators, such as Botox and Dysport, and fillers, such as Juvederm and Restylane. Services are administered by a professional team of aesthetic experts and licensed certified professionals. Dr. Shalini Kapoor, an Oculoplastic surgeon, recently joined as national medical director, bringing about 20 years of experience in the medical aesthetics field.

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“The market perception is changing; consumers are becoming more accepting of these microtreatments as part of ongoing beauty maintenance,” said Nicci Levy, Alchemy 43’s founder and chief executive officer. “I think consumers are making more empowered decisions about incorporating cosmetic injectables into their routine. There is more understanding that we’re not seeking to change the way people look, we are simply enhancing each individual’s own, natural beauty, and I think that’s one of the major reasons people are gravitating toward these treatments more and more.”

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Levy, a former business development manager for Allergan in Beverly Hills, saw the need for an alternative to the clinical atmosphere of plastic surgeons and dermatologists’ offices. She also noticed there were misconceptions tied to the industry she has set out to change. “Alchemy 43 microtreatments are ritualistic in nature, like getting your hair colored or getting your nails done. If you like the results you see, you’ll incorporate it into your regimen,” said Levy. “Of course, unlike getting your hair or nails done, there is a clinical aspect, so we never want to trivialize that, but our end goal is to make our services an experience that customers look forward to. When you go get your hair freshened up, it’s generally something you anticipate both because of the experience and the end result of liking how you look afterward. We compare this to coming to Alchemy 43 because we want visits to be something that our customers look forward to in the same way.”

The Santa Monica location is close to the famed beach, while the West Hollywood site shares a wall with Zadig & Voltaire. “We have had our eyes on these two areas from the start,” said Levy. “Both locations are surrounded by the types of forward-thinking shops and cutting-edge beauty, fitness and wellness services that appeal to our target consumer, and that is exactly what we look for when we are deciding where to open new stores.”

While the company has not confirmed a location, Levy is scouting opportunities and will likely open her first stores in the Flatiron and Upper East Side neighborhoods.

The decor seeks to remind clients that a beauty routine should be fun and inspiring rather than reminiscent of a visit to a doctor, said Levy.

The stores are designed by Heitler Houstoun Architects, which counts Drybar and Blushington among its clients. Alchemy 43 is backed by Forerunner Ventures, which has a proven track record with early investments in Dollar Shave Club, Jet.com, Glossier, Warby Parker and Away. Investors include Drybar cofounders Alli and Cameron Webb and Michael Landau, Lead Edge Capital, BAM Ventures and Redo Ventures.

“Beauty is an incredibly dynamic category, but the injectable space hasn’t had much innovation until now,” said Eurie Kim, general partner at Forerunner Ventures. “As Alchemy 43 expands, we believe there will continue to be a shift in the way people think about this area of beauty, resulting in consumers incorporating it more readily into their beauty routines.”