As a constant shopper of beauty products, I am always amazed at how beauty departments are always so crowd (leaving only elbow room in most cases). This is the case in department and specialty store. After pushing and literally saying excuse me over 30 times, I finally made it out of Sephora last week. Once I got outside and started walking down the street I wondered to myself: “How big is the beauty industry and how much is being spend by the consumer?” Here’s what I found:Total sales in the beauty industry have reached approximately $426 billion. While the Western hemisphere accounts for most of the spending in the beauty industry, India and the rest of Asia is not too far behind! MAC sells 1 lipstick and 1 eyeshadow every 2 second, which is amazing to me, while Sephora rakes in over $636 million in revenue.
Rueters has reported that a private equity fund sponsored by French luxury brand LVMH Group has bought just under half of Australia’s R.M. Williams in deal aimed at helping the bushwear firm expand further overseas.
It has been said that the sale of the 49.9 percent holding was valued at around A$52 million ($55 million).
Singapore-based L Capital Asia, which is also backed by Groupe Arnault, the holding company of LVMH chairman and chief executive Bernard Arnault, and Malaysia’s YTL Corp, specialises in developing distinctive but affordable brands in the Asia-Pacific region.
Ken Cowley, chairman and owner of R.M. Williams, which is known for its elastic-sided boots, will retain the majority holding. He said L Capital had committed to retaining Australian manufacturing for the firm’s products.
New fashion startup, Popbasic, has set out to build consumer wardrobes starting with…what else? The basics. For $50-$100 each month, depending on the season, Popbasic customers will receive one high-quality basic, two trend items, and a surprise item, in what they’ve coined: “micro collections.” Popbasic has launched a landing page where customers can reserve a spot for the official launch in December. By signing up, you also get a special sneak peek into the very first Popbasic look book video.
99Labels, India’s counterpart to flash sales sites such as Gilt, has come up with a new strategy to expand its target market. 9Rasa.com is said to represent a more structured and less time-consuming experience as its online platform is more traditional. The new branch of the company specializes on clothing, jewelry as well as home decorations and shipments can be made to numerous locations worldwide such as Australia, Canada, Hong Kong and the US.
“More Engagement, More Rewards”
You see it all the time, Facebook friends sharing discounts and deals from their favorite brands. MiiBrand, an invite-only application gives engaging users the advantage of more deals and more discounts. By interacting with the brands that MiiBrand has partnered with, the users become a part of a “loyalty program” that gives users the chance to reach higher reward levels and better deals from their favorite retailers. Pronounced, “My Brand,” the Austrailian-based startup was founded by four men, Jeremy Fisher, Ben Howden, Patrick Carne, and Tony Milne. Ben Howden gave us some insight on the ins and outs of the interactive application and how it benefits both the consumer and the partnering retailer as well.
E-Tailer Endless Wardrobe Provides Stylish Solutions at Affordable Prices
E-Commerce has made the world more interconnected than ever and while shipping and distribution becomes difficult from the US and Europe to boutiques halfway around the world in Australia, e-Tailer Endless Wardrobe has availed stylish options for fashionable Aussies online. The site details, "We want to offer styles not easily available in current Australian stores, so that you can have unique outfits that nobody else is wearing." The website offers sportswear and formal wear for women as well as bags and accessories and even has an offering for men and children.