Cosmetics Market Sizing + Analysis

Part
01
of two
Part
01

Competitive Analysis: Kiehl's and Milk Makeup

Milk Makeup has an estimated revenue of $4 million and has experienced a 100% year-over-year growth. The company was co-founded by Mazdack and Zanna Rassi, Georgie Greville, and Dianna Ruth. Kiehl’s operates as a subsidiary of L’Oréal and has an estimated revenue of $16.97 million. As of 2019, Ginny Wright assumed position as the President of the brand. Our findings have been presented in the attached spreadsheet columns I and J.

KIEHL’S

  • Kiehl's is operated by L’Oréal USA, Inc., an internationally-focused online store that specializes in the food & personal care category, particularly in the area of personal care. Kiehl’s sells a vast array of skincare products for men not limited to facial cleansers, moisturizers, and shaving essentials.
ANNUAL REVENUE
YOY GROWTH
GEOGRAPHY
PRODUCTS
SELLING METHODOLOGY
FOUNDERS/C-LEVEL EXECUTIVES
  • Ginny Wright was recently appointed as the President of Kiehl’s the U.S. In her capacity as the President; she will be responsible for continuing to accelerate the brand’s growth in the U.S. Prior to her appointment at Kiehl’s, she was the global deputy general manager of Ralph Lauren Fragrances.

MILK MAKEUP

ANNUAL REVENUE
YOY GROWTH
GEOGRAPHY
Milk Makeup is currently available in the United States, Canada, Germany, and the United Kingdom.
PRODUCTS
SELLING METHODOLOGY
  • Milk Makeup products are sold through its website store, in select Sephora, Birchbox and Urban Outfitters stores, and e-commerce sites.
FOUNDERS/C-LEVEL EXECUTIVES
  • Mazdack and Zanna Rassi are the co-founders of Milk Makeup. Zanna Rassi is an award-winning fashion and beauty journalist, stylist, television host and Fashion-Editor-at-Large for Marie Claire, E! News fashion correspondent, NBC Today Show fashion contributor, and Target Stylist.
  • Mazdack Rassi founded Milk studio in 1996, the company from where Milk Makeup later emerged. Rassi was responsible for convincing investors to capitalize on the idea of building a makeup brand, and he led the team that drew the business plan for the company and produced the brand’s first sample products. He currently leads the company as its CEO.
  • Georgie Greville is the co-founder of Milk Makeup. Greville leads the brand’s visual identity with an unparallel multi-media presence. Under her guidance as creative director, the brand embraces individuality and authenticity, in the process redefining traditional beauty standards.
  • Dianna Ruth is the co-founder of Milk Makeup. Dianna Ruth has vast experience in launching thousands of makeup and skincare products, supervising them from concept to development, and has received over 30 industry awards. In her capacity as the COO and product developer at Milk Makeup, she seeks out the new, useful, and functional to create innovative Milk Makeup products.

RESEARCH STRATEGY

We weren’t able to provide the year-over-year (YoY) growth for Kiehl’s as the company is privately held and operates as a subsidiary of L’Oréal. Our initial attempts to locate the information was to search for the annual report of the company, and as mentioned above, the company is privately held, and it wasn’t possible to locate the annual reports. We searched for the parent company, L’Oréal 2017 and 2018 annual reports in hopes that the company published the financials of Kiehl’s which we were going to use to calculate the company’s YoY growth from 2017 to 2018 as available. This wasn’t possible as L’Oréal annual reports included the financial performance of the brand as a whole, and there was no breakdown of revenues of financial performances of its brands under its portfolio.

A search through media sites also didn’t provide us with the requested information on the company’s YoY growth. To provide the annual revenue of the company, we turned to business and company database, Hoovers, which provided the estimated revenue of the company. We also attempted to calculate the YoY for Kiehl’s by searching for company 2017 and 2018 or 2019 estimated revenue, but this also failed as the business databases only provided the most recent revenue estimates for the brand.
Part
02
of two
Part
02

Competitive Analysis

Columns C-H, rows 10-11 of the attached spreadsheet has been completed. Only the founder/president of Formen Andrew Grella has prior experiences of launching a men’s makeup company. Tom Ford, Domineco De Sole, and Janine Labaqui have previously worked in the fashion industry.

SUMMARY OF FINDINGS

  • The founder/president of Formen Andrew Grella was previously the founder of Man Up Products, a company that focused on providing male cosmetics, skincare, and fragrance products.
  • The founder/chief executive officer of Altr Alex Doyle has previously served as a marketing executive at Cash Management Solutions.
  • Tom Ford and Domineco De Sole, the co-founders of the Tom Ford brand, have previously served as the creative director and president of Gucci respectively.
  • Josh Meyer and Matthew Bolduc, the co-founders of Brickell Men's Products, have previously launched seven and three companies respectively.
  • Ryan and Janine Labaqui, the co-founders of Rugged & Dapper, have previously served as a construction worker and designer respectively.
  • The founder/owner of War Paint Daniel Gray has previously served in business development and contract hire functions at Tuskerdirect.
Sources
Sources