The beauty industry is something many celebrities try to capitalize on — from Paris Hilton’s perfumes in the early 2000s, to her apprentice Kim Kardashian’s KKW Beauty line, which sold $10 million dollars in fragrances in one day. Female entrepreneurs dominate the industry and have many independent ventures picked up by larger companies. This fact may come as a surprise to you, but it shouldn’t — in beauty, “business is booming,” as DJ Khaled would say.
The Business Of Beauty
The beauty business is a $569 billion worldwide industry; its market value continues to grow exponentially each year. What’s more, this industry is dominated by female entrepreneurs. With the help of social media sites like Instagram, companies use influencers to help market their products.
Kylie Jenner used social media and other influencers to market her lip kits back in 2016. In a year Jenner made over $420 million and now, it has exploded into a billion-dollar industry. In contrast, the L’Oreal Lancome Cosmetics line took 80 years to reach $1 billion. Jenner isn’t the only celebrity to join in on this growing market. Rihanna, Lady Gaga, JLo, and Selena Gomez are a few big names who ventured into the beauty industry.
Celebrities aren’t the only ones seeing success in this industry. The list of women-owned beauty brands is extensive and growing every day. Tarte, Ouai, Anastasia Beverly Hills, Glow Recipe, Huda Beauty, and Glossier are a few notable brands that are started by women.
Now with the help of influencers, beauty entrepreneurs have the potential to make a ton of money and have a high chance of being acquired by a larger beauty company. Therefore, if you’re an entrepreneur interested in beauty, this may be a great industry for you. Plus, you don’t have to be Kylie Jenner or Rihanna to run a lucrative beauty line. If you want in, start your own venture and claim your piece of the multi-billion dollar industry.
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