Chemberry will spin-off from Clariant three years after launch and form a new and independent company called Covalo
The ingredient search platform will widen its mission to make beauty product development faster and easier, tackling challenges across the product development process beyond ingredient sourcing
Chemberry was launched in 2018 as part of an innovation project initiated by Swiss specialty chemicals company Clariant. It has become one of the largest search platforms for beauty ingredients, enabling brands to quickly find the right ingredients while helping provide suppliers with the tools and real-time industry insights needed to effectively market products.
Over the past three years Chemberry has indexed almost 40,000 beauty ingredients and boasts users from across almost 5,000 brands and more than 1,000 suppliers. The amassed search data enables it to generate insights on trending beauty ingredients and claims.
Clariant announced today that Chemberry will spin-off from Clariant, effective March 1st, 2021, and will be operated independently under the new name Covalo. Covalo is a brand of Covalo Ltd., a Swiss stock corporation established by former Chemberry employees. Covalo operates the domain covalo.com which Chemberry users will be redirected to from chemberry.com.
“We are very proud of what Chemberry has achieved in a short time under Clariant. Now, as Covalo, it will widen its mission to tackling challenges across the beauty product development process beyond ingredient sourcing,” comments Sibylle Mutschler, Head of Transformation, Clariant. “Covalo’s vision is to make beauty product development faster and easier by connecting and facilitating collaboration between beauty brands and suppliers also in the areas of contract manufacturing, formulation and testing services, and packaging. We wish them well for the exciting times ahead.”
“Clariant has provided us with invaluable insights and support over the last few years. Being a part of an established specialty chemicals company also lent us the perspective of an ingredient supplier so we could understand the difficulties around ingredient marketing and transparency. This was critical for us when pitching our ideas not just to beauty brands but also to other ingredient suppliers. Although the last three years provided us with an incredible learning opportunity, we’re also excited for the next chapter where we will help beauty brands reduce time to market,” says Timo von Bargen, Chief Executive Officer of Covalo.
Faced with increasing consumer demands in areas ranging from efficacy to sustainability, beauty brands are working on more innovative products and feel the pressure to launch more often and more quickly. This requires constant scouting for new suppliers that can help bring these innovations to life. To help beauty brands find the right partners more quickly, Covalo’s platform will help surface different suppliers based on unique filters such as location, certification, and specializations.
Covalo is positioning itself as the pioneer of digital development in the beauty industry. The platform will enable new channels of communication and collaboration that are reliable and promote transparency especially in the areas of compliance and sustainability.
Clariant is a focused, sustainable and innovative specialty chemical company based in Muttenz, near Basel/Switzerland. On 31 December 2020, the company employed a total workforce of 13 235. In the financial year 2020, Clariant recorded sales of CHF 3.860 billion for its continuing businesses. The company reports in three business areas: Care Chemicals, Catalysis and Natural Resources. Clariant’s corporate strategy is based on five pillars: focus on innovation and R&D, add value with sustainability, reposition portfolio, intensify growth, and increase profitability.
Covalo™ makes beauty product development faster and easier. It is a comprehensive search platform that connects beauty brands with suppliers of ingredients, packaging, and services such as contract manufacturing, formulation, and testing. It also arms suppliers with the tools and real-time industry insights needed to effectively market products. Covalo launched in 2021 and is based in Zurich, Switzerland.