We have talked about apparel, accessories, home, and even food- but we have yet to talk about the beauty industry. Today that all changes, so let’s dive in...
According to a recent article in PRNewswire, the beauty industry (make-up, skin care, fragrance, and hair products) is expected to maintain positive growth within the US for the next few years. In 2016 alone the industry saw a 10% revenue increase- hitting an all time high of $62B across all categories mentioned above. Analysts mention two reasons for the increase: premium brands entering the space and an influx of social media marketing/ sales representative opportunities.
When I think about industry leaders the following names come to mind: Procter & Gamble, L’Oréal, Estée Lauder, and Avon. But as of yesterday I learned about Coty Inc. who owns OPI, Marc Jacobs Fragrances, and Cover Girl to name a few. I was running through news articles when one in particular caught my eye from the Wall Street Journal. It was about Younique, a brand that my honorary Godmother, Theresa, is a presenter for. The headline read that Coty had acquired 60% of the Younique business- which was expected to hit $400M in sales for the year. This new partnership would allow for the original founders, Derek Maxfield and Melanie Huscroft, to maintain their leadership roles yet gain access to Coty’s manufacturing and supply chain capabilities. It’s a huge deal and a big win for the Younique team.
Some of you at this point may be saying what is Younique? I will be honest and say that six months ago I was asking Theresa that very question. The company is best described as a beauty and skin care innovator- whose products are sold directly to the consumer through e-commerce and/ or presenter’s via social media. Their main goal is to uplift and empower women- whether it's through higher quality merchandise or professional achievement. The founders also launched the Younique Foundation, which supports victims of sexual abuse and their families. It's a brand mission you will want to get behind and it’s a reason for you to click on the link above and check out their website.
Okay- lets wrap this up! There will always be additional facts that I could supply you with, but at the end of the day I honed in on a new partnership and an ever-growing industry we all contribute to. To everyone at Younique and Coty Inc. I wish you the very best in your new endeavor and look forward to seeing what’s next.
PS: Theresa, this is for you. Here's to chasing dreams and seeing success! xo