Beauty Store Business

AUG 2014

For beauty business news, beauty store owners turn to Beauty Store Business. Beauty business trends, beauty business profiles and more!

Issue link: http://beautystorebusiness.epubxp.com/i/340385

Contents of this Issue

Navigation

Page 119 of 135

118 August 2014 | beautystorebusiness.com News PRO-BEAUTY APPLIANCES & SHEARS GROW 4.2% The professional salon beauty industry's appliances category grew 4.2% in 2013, according to the new "2013 Professional Salon & Pro Beauty Industry Appliances & Shears Study" from Professional Consultants & Resources, a U.S. salon and pro-beauty strategic consulting, market-intelligence and data- research company. That growth is specifically 55% greater than the overall salon industry's growth rate of 2.8% for the same time frame. The 70-plus page study reports on sales of hair dryers, curling/flat/styling irons, clippers, trimmers and shavers, and includes a complete section on shears. It covers major trends and influences on the market, as well as five-year historical and percentage-per-year growth projections, along with upcoming market needs of stylists and consumers. The study also audits leading salon-industry store stocking by brand, manufacturer and price, and also taps expert resources of veteran executives in the professional salon industry and salon appliances marketplace. "Salon appliances continued to be a leading growth category in the professional-beauty industry for the seventh straight year," says Cyrus Bulsara, president of Professional Consultants & Resources. "As a result, major professional salon companies have entered the hard goods category, now identified as a high-margin, high-profit market segment. A major struggle for industry domination and leadership continued during 2013. Erosion occurred with some major brands, as new entries increased their market shares and captive store brands gained further importance. Conair led the pro market sales by dollar volume for the third straight year." Here are the Top 10 professional salon appliance companies by dollar volume in descending order: 1. Conair 5. Oster 8. Sally Beauty brands 2. Helen of Troy 6. Farouk Systems 9. Bio Ionic 3. Andis 7. John Paul Mitchell 10. ghd 4. Wahl Systems IN MEMORIAM: PAULA KENT MEEHAN Co-founder of Redken Laboratories Paula Kent Meehan passed away at age 82 in her Beverly Hills, California, home June 23. "Today, we lost a true legend in the profes- sional haircare industry," says Redken U.S. general manager Leslie Marino. "The legacy that she has left sustains the brand today. Paula created products and education programs that propelled the industry's transformation. Her pioneering ways will be missed but her spirit will be in our hearts and minds forever." A young model and actress at the time, Meehan launched her business career in 1960—founding with Jheri Redding—a small California-based company: Redken Laboratories. Meehan pioneered the "scientific approach to beauty" based on her dedication to developing products compatible with the natural elements of hair and skin. Her highly sensitive skin and hair reacted adversely to many products on the market. Her quest was to discover why. Redken began with three products and an intensive education program for hair- dressers about the chemistry of hair and skin, thereby enabling them to better serve their clients and generally elevating a career in hairdressing to that of a profession. Redken Laboratories also designed programs and trained hairdressers to successfully market Redken products in the salon—something unheard of at the time. In 1993, L'Oréal USA purchased Redken Laboratories, and following the Northridge earthquake, relocated the headquarters to Fifth Avenue New York City. Meehan also received countless industry awards, including "Hall of Leaders" given by the North American Hairstyling Awards and Intercoiffure's Lifetime Achievement, as well as others in and out of the salon industry. HENKEL ACQUIRES THREE PRO-HAIRCARE COMPANIES Henkel announced in June that it has signed an agreement with TSG Consumer Partners to acquire Sexy Hair, Alterna and Kenra for about 270 million euros (about $367 million) in cash. In fiscal year 2013, the acquired companies generated sales of about 140 million euros (about $190 million). "This acquisition is part of our strategy to invest in attractive country category positions in mature markets," says Henkel CEO Kasper Rorsted. "North America is the biggest single market for Henkel, and with these companies we will further strengthen our presence in this region." Hans Van Bylen, executive vice president, adds, "The high-performance and high-quality brands and organizations are a perfect fit for our Beauty Care business and will significantly expand our hair professional core category." TSG Consumer Partners has also announced an agreement to sell its stake in the science-based skincare brand Perricone MD to Lion Capital. "During the last three years, product sales and earnings of the company have more than doubled," states Jamie O'Hara, managing director and president of TSG Consumer Partners. "The company is well positioned for future growth while continuing to be innovative to meet the needs of its incredibly devoted and growing customer base." CEW WEST COAST PRESENTS 'SUCCESS IN-STORE' PANEL Cosmetic Executive Women welcomed a trifecta of retail experts to its June 5 West Coast Beauty Insider Series event in Santa Monica, California. Gemma Lionello, executive vice president and general merchandise manager, Nordstrom: Lily Garfi eld, founder and president of Cos Bar; and Ian Ginsberg, president of C.O. Bigelow Apothecaries, spoke in a "Success In-Store" panel. The experts shared strategies for maintaining customer relationships, training, staffi ng, and creating unique, customized in-store expe- riences to keep customers coming back. They also discussed what they look for in partnering with new brands, and shared which categories they see as having the most growth potential in the future. L. Adams, adamsvillephotography.com N e w s 8 1 4 . i n d d 1 1 8 News 814.indd 118 6 / 2 7 / 1 4 9 : 3 0 A M 6/27/14 9:30 AM

Articles in this issue

Links on this page

Archives of this issue

view archives of Beauty Store Business - AUG 2014