Walgreens Takes Stake in Birchbox

By Anonymous

Drugstore chain to test sales of Birchbox-assorted products in 11 stores; startup turns to retailer after online growth slowed

Walgreens Boots Alliance Inc. is backing subscription-box company Birchbox Inc., a move to expand its beauty aisles by including high-end cosmetics.

The drugstore chain, which is taking a minority stake in the online beauty startup, will begin selling Birchbox-assorted products at 11 stores in major cities, including Chicago, Los Angeles and Miami.

Financial...