Beauty Store Business

JUL 2016

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:

Contents of this Issue


Page 33 of 115

32 July 2016 | Luckily, the brand was able to quickly bounce back— this time growing to more than $6 million in sales—thanks to the launching of its fruit-pigmented cosmetics on QVC. However, another unexpected hit caused them to lose the business just three years later. "We could have given up and thrown in the towel at that point," Kostick says. Instead, he reevaluated the company's focus and strat- egies. "Losing these major customers grew me to respect the B2C relationship, and to also be extremely strategic in the B2B world." By focusing on the company's Web and B2C business, Kostick was able to drastically grow online sales. The company also launched a brick-and-mortar store to directly connect with customers. With stop-and-go success thus far, 100% Pure seems primed for even greater success in the future. It won the Beauty Pitch event at Cosmoprof North America in 2015, and Kostick expects to grow business by 75% by 2016. "I feel the current success is just the tip of the iceberg. The last 10 years were a training ground for something greater." . . . . . . . . . . . . . . . . . . . . . . . . . . . . KNOW THE INDUSTRY & ITS FUTURE Ric Kostick closely follows the advice given to him by his mentor Mark Cuban: "Know your business and industry better than anyone else in the world," also making it a point to know what the future holds for his industry. "We need inno- vation that will be an industry disrupter. Little nanobots that clean and repair your hair and skin and even clean inside your body. There's some interesting ideas we'll see emerge in our industry, such as replacing your blood plasma to make yourself younger. We'll also see a technology shift as it emerges, such as virtual reality. We already are planning to use it in our product development, so we can touch and feel packaging at our factories from our home office. We can also deploy it at our stores and create unique experiences and later even host a virtual-reality store! I'm really excited about this technology, in particular." . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lauren Napier CEO/Founder, CLEANSE by LAUREN NAPIER Age: 35 IG/ Twitter: @laurennapier "Every step has been a learning experience, and some lessons have been quite challenging. But if I waited until I knew everything, I wouldn't have accomplished anything." Before developing her own breakthrough product, Lauren Napier had a long and successful career as a TV, film and celebrity makeup artist, working since 2003 on shows like Saturday Night Live and working with big names, from Lady Gaga and Bruno Mars to Anne Hathaway and Ben Affleck. But, after 10 years, Napier was ready to launch her own brand. By 2014, she had successfully released her signature product, CLEANSE by LAUREN NAPIER, a line of gentle cleansing wipes that is now sold worldwide. In just two years, she's been able to get her product into major Manhattan-, Brooklyn- and Hamptons-based retailers, and has been embraced by the makeup industry leaders at Manhattan Wardrobe Supply Pro Beauty. "We have also been fully embraced by celebrity makeup art- ists Fiona Stiles, Mai Quynh and Lottie Standard, who recommend CLEANSE by LAUREN NAPIER as a makeup kit essential," Napier says. Napier has particularly enjoyed working with female-owned retail partners, such as Vivrant Beauty and The Stell, especially as her own company is entirely female-owned and operated. With her product being made in the United States and manufactured with solar energies, sustainability and social impact are high on Napier's priority list. "I am proud of the social impact and our contribution to environmental friendliness. My goal is to continue to be efficient environmentally, socially conscious, and to continue to employ women and minority businesses." Nonetheless, Napier hopes to continue growing her retail partnerships in 2016, and has one goal in particular. "While I have been fortunate to partner with female-owned retailers, it's my dream to collaborate with Kiehl's—Can you hear me, Chris Salgardo?" With her premier product shaping up to become the go-to makeup remover, Napier has already been able to give back, making contributions to CEW's Cancer and Careers and donating earnings and products to those affected by the Flint water crisis. As she works on the next additions to her line, Napier considers the natural balance of the industry, connect- ing it to the brand's core message. "Beauty and skin care [are things] we can't live without, and [they are] becoming more important with every single selfie," she says. "I also believe there is a pendulum swing—I am beginning to see anti-phone zones, tech-free retreats, and many 2016 spring/summer ad campaigns were essentially makeup-free! No matter what the beauty industry dictates, there is beauty in taking it off!" . . . . . . . . . . . . . . . . . . . . . . . . . . . . DON'T WAIT, JUST WORK In building her brand, Lauren Napier says, "Every step has been a learning experience, and some lessons have been quite challenging. But if I waited until I knew everything, I wouldn't have accomplished anything." Her biggest advice to budding entrepreneurs—or anyone with a dream— comes courtesy of Thomas Edison. "One of my favorite quotes is, 'Opportunity is missed by people because it is dressed in overalls and looks like work.' My advice is to work until you can't work any more—and then work for another 30 minutes." . . . . . . . . . . . . . . . . . . . . . . . . . . . . "Age plays a huge role in this industry. You [must] have a wealth of knowledge on both sides—the makeup-artist side and the business side." Paris Manning CEO/Founder, Velvet 59 Age: 23 IG: @velvet59 Twitter: @velvet59makeup Although she's one of the youngest CEOs on our list, Paris Manning has been in the cosmetics industry for as long as she can remember.

Articles in this issue

Links on this page

Archives of this issue

view archives of Beauty Store Business - JUL 2016