The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
As part of its diversity initiatives, which include joining the 15 Percent Pledge to diversity third-party brands, the LVMH-owned beauty retailer announced that its 2021 incubator brands are all owned by Black, indigenous or people of colour.
The “Accelerate” program comes with mentorship, educational workshops on everything from marketing to supply chains before the brands begin selling at Sephora’s stores after the program finishes in May.
Participating brands include the skincare brand Hyper Skin, founded by Desiree Verdejo and focused on addressing dark spots and discolouration, as well as Kulfi Beauty, founded by Priyanka Genjoo and designed for South Asian skin tones.
By selling existing formulas under their own name, retailers can tap into the lucrative beauty market without investing in custom formulations. But that doesn’t mean the private label model is an easy win.
The San Francisco-based company is hoping to tap growing consumer demand for financing for cosmetic treatments among other services.
Once thought of as long-term disruptors who would change the way we shop forever, multi-brand online retailers that sell cosmetics, skincare, fragrance and more are facing multiple headwinds.
Prestige makeup is fashion’s category expansion du jour. But even the market’s most powerful players could learn a thing or two from its celebrity-backed competition.