For instance, Drew Barrymores Flower Beauty, which rolled out in Walmarts eight years ago and was picked up at Ulta in 2018, and is reportedly generating $50 million in revenue per year after nearly a decade of sales. Few markets have proven themselves to be more lucrative than that of the personal care and beauty sector. 1. background-color: #ffffff; A perfect example of this is an Instagram video promoting Fentys Body Lava launch in March 2018. She used her own experience as a starting point, inspired by the number of times shed walked away from the makeup chair disappointed. Rihanna's Fenty Beauty is currently the most successful celebrity-backed beauty brand, earning $570 million in revenue every year, according to insights from OLBG.. Related: THG Half Year 2021 Results Jessica Alba's Honest Company is the second highest-earning, with $350 million yearly revenue. Du Bois - one of the better-known African American entrepreneurs who made their fortunes in the modern economy! Even with online shopping, beauty is still a category that consumers like to purchase in-store as it is easier to see if products match which was especially important for the first product launched under Fenty Beauty, which was foundation. Since then, Fenty has expanded into size-inclusive lingerie, fragrances, shoes and clothes. After all, even during economic recessions, consumers still look to everyday luxuries like like favorite high-end lipstick for a morale boost. The most important key figures provide you with a compact summary of the topic of "Cosmetics industry" and take you straight to the corresponding statistics. Back in 2014 when no one was looking, Rihanna registered the trademark for Fenty Beauty. However they express themselves, meet them where they are because it positioned itself from day one as high-end. } border-radius: 5px; margin-top: 30px; She provided makeup kits for everyone to take home, and invited her guests to provide honest feedback about the products. And thanks in large part to that connection, in its first 40 days, Fenty did $100 million in sales. Fentys slogan is Beauty for all, and its clear they arent tokenizing people of color for extra credit; theyre treating them as integral to the companys product image and customer base. And no celebrity has leveraged her star power, and entrepreneurship, the way Rihanna has. Aug 2018 - May 20201 year 10 months. What has set Fenty apart is their desire to serve their customer base unabashedly, something theyve done since first launching. Three years later, at the age of 29, she launched Fenty Beauty. The rest of her income lies in her music and acting careers. In addition to focusing on inclusivity one of Rihannas best moves was choosing the right partner and deciding to launch offline and online at the same time. Ve done since first launching of COVID-19 on the clean Beauty bandwagon, will! . Sign up to our newsletters by creating a free account any old Instagram video promoting Fenty has. Fenty Beauty has won several awards, such as the 2017 WWD Beauty Inc. award in the category of the launch of the year in the prestige sector. Rihanna held an $80 million stake in the company, while she has a 15 percent stake in Fenty Beauty, which is the parent company of her sub-brand Fenty Skin. display: inline !important; An investigation of the scandal concerning the cosmetics firm's association with French Nazis and the accusations that L'Oreal executives protected high-ranking Nazis The Business of Aspiration changes that. The Five Biggest Misconceptions of Egg Donation. Here, see the top 10 wish-listed items in the Klarna app, from January to June 2020. Rihanna launched her makeup line Fenty Beauty with the goal of satisfying a multicultural customer base. It not only highlighted the importance of being seen, it proved to the industry that women of colour have huge spending power, and that black can, and does, sell. !function(e,a,t){var n,r,o,i=a.createElement("canvas"),p=i.getContext&&i.getContext("2d");function s(e,t){var a=String.fromCharCode;p.clearRect(0,0,i.width,i.height),p.fillText(a.apply(this,e),0,0);e=i.toDataURL();return p.clearRect(0,0,i.width,i.height),p.fillText(a.apply(this,t),0,0),e===i.toDataURL()}function c(e){var t=a.createElement("script");t.src=e,t.defer=t.type="text/javascript",a.getElementsByTagName("head")[0].appendChild(t)}for(o=Array("flag","emoji"),t.supports={everything:!0,everythingExceptFlag:!0},r=0;r
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