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Issue link: http://beautystorebusiness.epubxp.com/i/107814
Friedman: The retail and regulatory climate is changing, and knowing how to navigate that world helps. Additionally, consumers are so much more knowledgeable than before when it comes to product information. They can immediately find out anything on the Internet, including price comparisons and more. What are the biggest trends in makeup right now? Toni K.: Cosmetics with dual purpose, that it's difficult to favor one more than the others. In fact, we just received word that Toni is being honored as The Beauty Bus Foundation Honoree of the Year for 2013 in recognition of her charitable contributions. New this year will be our sponsorship of the American Heart Association Go Red for Women Campaign. We have also supported City of Hope, MusiCares, WGIRLS, John Wayne Cancer Institute, Habitat for Humanity and more than 50 others. lip tints, cream blushes that double as lip tints and tinted moisturizers. In addition to makeup, NYX offers lashes, nail polishes and makeup-artist tools. Award for refusing to test on animals [a requirement to sell in China]. Which trade shows can we expect to see NYX at in 2013? Friedman: NYX always exhibits at the Cosmoprof shows in Las Vegas, Hong Kong and Bologna. In addition, we were at the Western Buying Conference and will be at the NEBRA Eastern Buying Conference. We were at the Long Beach International Salon and Spa Expo. Finally, we will participate in select makeupartist shows. What are some of the benefits of being so popular in the beauty blogger and vlogger communities? And how did you build your current status online? Toni K.: The benefits range from acquiring user-generated videos, peer-generated reviews, and familiarity and brand awareness, all of which give NYX immeasurable exposure in an organic and viral manner. People learn about and try our products from the personalities of people they identify with, and they creatively share ways to use the products, which has a powerful effect. Our current social network was built by embracing the online community at the inception of blogging and vlogging. We treated everyone as friends and encouraged two-way communication. The online community was, and continues to be, our vehicle to product sample and conduct market research, as well as to share and learn tips and trends in the beauty industry. Friedman: To truly understand why it happened begins with Toni. Toni has always been very talented and incredibly insightful when it comes to product development. She built the company by never settling for less than top quality and top packaging, and always setting an attractive price. Her belief was that if she created an awesome collection and priced it correctly her business would grow from hard work and word of mouth. She did not anticipate that word of mouth would jump to online social communities, but we are glad it did. This growth was all organic. Our focus now is to be true to our brand. How have cosmetics changed over the years in your opinion? Toni K.: There have been tremendous changes in cosmetics and the cosmetics industry, and most for the better. Ingredients have improved, usability, wearability, functionality and more. I cannot think of one thing that has not improved in the last decade. The majority of brands have been self-regulated when it comes to the safety of the consumers and the environment, and that has worked reasonably well so far. The recent focus on registrations and regulations, particularly internationally, made us a better company. Our huge investment in quality control and the registration/regulatory process prepares us to meet the requirements of the world we are in now. 48 March 2013 | beautystorebusiness.com What types of displays do you offer retailers? Friedman: This is actually a very impor- What trends do you see coming in the next two to three years? Toni K.: Trends come and go—and the tant feature of our brand. Our displays cost us a little more than most but they present a fabulous in-store look and make it easier for a consumer to shop. We offer cascading, freestanding metal fixtures along with interchangeable modules that allow for easy introduction of new product categories. We also offer standard wall units [with] drawers to create an efficient use of space. Finally, we often include instruction information as an integral part of our displays, all to help educate and sell to the consumer. fashion industry largely dictates what's coming into trend. Looking forward two to three years is quite difficult, so I can only say one thing, which is that the classic items will never go out of trend. What are the top three most important things you are doing to build your brand? Friedman: No. 1 is freeing up our talent to create and stay fresh. Second is continuing to manage distribution. Grow, but not too fast, and with beauty stores that properly present the breadth of our line in terms of the look of the display and the knowledge of the beauty store professional. Third is partnering with the best selection of beauty stores in each country. This includes the best and most innovative U.S. beauty stores. In those countries where an appropriate professional beauty partner is not available, we have selected partners to establish NYX stand-alone retail stores. This is the case in Brazil, Indonesia, the Philippines, Thailand and Greece. We currently have 30 standalone NYX stores outside of the United States, which are a great way to test new products. While we have discussed opening a store in the United States, that is not a business focus. Are you involved in any charities? Friedman: Giving back and being responsible world citizens is an important part of our culture. This started with Toni and her desire to help those less fortunate or those facing special difficulties. We support so many wonderful organizations What is your best advice for retailing cosmetics? Toni K.: Keep well-stocked, identify what your customers are looking for, clean often, organize well, make it easy for customers to find what they're seeking and, most importantly, wear a big smile and give the best service. How does the NYX online presence help to educate the consumer? Friedman: Our brand benefits tremendously from the new reality of the beauty-retail world. Consumers are now more informed than ever since they have an abundance of information available online that specifically educates them about almost any product on the market. The millions of YouTube video tutorials and reviews made by makeup artists and knowledgeable makeup junkies serve as both testimonials and education about the NYX brand. The following that we have achieved also allows us via social media to let consumers know when a retailer carries our product. We actively engage the online community to tell them where they can purchase NYX.