Beauty Store Business provides solutions for better retailing! New products, industry news, savvy business moves and important trends affecting both brick-and-mortar and online retailers are included in each issue.
Issue link: http://beautystorebusiness.epubxp.com/i/783363
8 March 2017 | beautystorebusiness.com News PALLADIO BEAUTY APPOINTS NEW CEO Palladio Beauty Group has appointed Shawn Haynes as CEO of the South Florida-based beauty company, which produces color cosmetics enriched with botanicals, vitamins and antioxidants. Haynes, a seasoned beauty professional with 20 years of experience in the industry, is joining Palladio with expansive knowledge of both corporate and startup brands. His experience includes sales and marketing leadership positions at Maesa Group, e.l.f. Cosmetics and Markwins International. "It is with great confidence that I hand the reigns to such an experienced and impassioned leader as Shawn," said Phil Solomon, executive chairman of the board. "His deep industry knowledge and experience leading high-growth beauty companies makes him the ideal CEO to accelerate the next stage of growth for Palladio." Haynes most recently served as senior vice president of sales at Maesa Group where he was responsible for the company's exclusive brand portfolio: Flower at Walmart, Circa at Walgreens, Enlite at CVS, Fiona Stiles at Ulta and QVC, and Kristin Ess at Target, which just launched January, 2017. "Palladio is a dynamic brand that is perfectly positioned to expand its global footprint," said Shawn Haynes. "I'm excited to join and lead the team as we accelerate the momentum of the brand with a keen focus on innovation, digital transfor- mation and strategic distribution expansion." ■ Top: ValuaVitaly, gettyimages.com, bottom: courtesy of Palladio Beauty Group SKINCARE PRODUCTS TO REACH $179 BILLION BY 2022 The global skincare products market is expected to reach $179 billion by 2022, according to "Skin Care Products Market by Type and Geography: Global Opportunity Analysis and Industry Forecast, 2014-2022," by Allied Market Research (AMR). The market is projected to grow at a CAGR of 4.7 percent from 2016 to 2022. The report also noted that Asia-Pacific dominated the market and contributed more than 40 percent of the overall market revenue, followed by Europe in 2015. "In the skincare product market, skin-brightening creams have huge growth potential. Antiaging cream and sun-protection cream segments fuel the Asia-Pacific market due to the increase in aging population compared to developed countries. This segment is anticipated to witness high growth in the emerging countries," said Preeti Bisht, research analyst for consumer goods at AMR. The rise in awareness toward skin care and usage of advanced skincare products, changing lifestyle supported by increasing disposable income and urbanization, and the increasing popularity of organic skincare products are all expected contributors to the notable market growth. More specifically, face cream played a big part in the market's growth in 2015 and is expected to hold its influence. Within the face-cream segment, antiaging cream and skin-brightening creams collectively accounted for around 75 percent of the market revenue. And the body care lotion segment held 41 percent market share of the global skincare products market in 2015. Key findings from the report include: • In 2015, face cream led the overall skincare market revenue and is projected to grow at a CAGR of 4.9 percent during the forecast period • Sun-protection cream is expected to exhibit the fastest growth in the face cream segment • Key players in the market have adopted merger and acquisition, product launch, partnership, and geographical expansion as their key developmental strategies to provide their services in different geographies for business growth. The major players profiled in this report include Johnson & Johnson, The Estée Lauder Cos., Unilever PLC, Avon Products, L'Oréal S.A., Kao Corp., Colgate-Palmolive Co., Shiseido Co., Beiersdorf AG, and Procter & Gamble. REVLON REVEALS NEW STRUCTURE DESIGNED FOR GLOBAL GROWTH Revlon revealed its new organizational structure in mid-January, which is designed to help the company attain its long-term goals for growth and allow it to more effectively compete in the fast-growing global beauty market. After successfully acquiring Elizabeth Arden last fall, the $3 billion beauty company has amassed a varied portfolio of iconic brands offering color cosmetics, skin care, fragrance, hair color and care, beauty tools, men's grooming products and other personal care and beauty products sold in roughly 150 countries through multiple distribution channels. The company's new structure is organized around four global brand teams: Revlon, Elizabeth Arden, Fragrances and Portfo- lio Brands. This new organization will allow for building brand equity and delighting and winning with beauty consumers. Also, the organization will continue to nurture strategic customer relationships, and a new customer-facing regional structure will support global sales and brand presence behind five regions in North America; Europe, Middle East & Africa; Asia; Latin America, which includes Mexico; and Pacific, which includes Australia and New Zealand. "This new brand-centric structure enables us to leverage the strength of our iconic brands, better focus on and serve beauty consumers, and quickly adapt to their changing behaviors and preferences," said Fabian Garcia, president and CEO of Revlon. Shawn Haynes