Singapore startup takes on the big beauty brands

How This specific skincare brand got noticed in a crowded market

Beauty can be a multibillion-dollar global business dominated by a few massive brands.

Competing with the likes of L’Oreal (LRLCF), Estee Lauder (EL) along with Shiseido (SSDOF) can be tough, especially for smaller companies. yet one Singaporean startup, Allies of Skin, has managed to take on big beauty by building a global network.

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The company started out out in 2016 with just three products.

“This specific was a little unusual just for This specific industry because you have brands usually launching with eight or ten products,” said founder Nicolas Travis.

Related: Why can be L’Oreal buying a technology company?

Allies of Skin right now has seven products, along with they’re not cheap. Prices range by 50 Singapore dollars ($45) for a tiny bottle of cleanser to 159 Singapore dollars ($0) for an overnight facial product.

from the beginning, getting noticed wasn’t easy in a crowded industry where three companies account for over 25% of the market, according to research firm Euromonitor International.

yet Travis said he was persistent, repeatedly calling along with emailing buyers. He eventually persuaded high-end retailers in a dozen countries to start stocking Allies of Skin products.

Related: Glossier CEO: Brands of the future will be ‘co-created’

The company was also tapping into a growing demand for niche along with indie products. Cult brands like Glossier along with NYX from the United States, along with Charlotte Tilbury in Britain, have seen massive growth thanks to word of mouth along with so-called online influencers.

The global industry for beauty along with personal care products can be supposed to grow about 4% annually, reaching $430 billion dollars by 2022, according to Allied Market Research.

Digital sales are driving that will growth. Shoppers are increasingly bypassing department stores, once the main place for selling high-end beauty products, according to a report last year by consulting firm Deloitte. right now, four out of a few beauty shoppers research along with buy products online.

Related: Americans are putting snail slime on their faces

Allies of Skin can be riding that will wave: e-commerce accounts for more than half of its total sales.

Travis said he expects revenue to grow by $700,000 from the company’s first year to at least $2 million This specific year.

CNNMoney (Singapore) First published April 16, 2018: 4:27 AM ET



Source : Singapore startup takes on the big beauty brands