Why can't celebrities stop racing to start their own cosmetic brand?
Fate with the cosmetics industry
Stars begin to earn revenue from their name and beauty through being the face of a beauty product or campaign. Stemming from the love of imitating beauty or beauty secrets from our favorite stars, consumers have loved celebrity beauty brands for a long time.
However, as the competition increases and the old forms of promotion have gradually proved ineffective, a new question has arisen: What is the worth of the brand itself, instead of just "renting" a representative face?
Perfume is the segment that receives the first entry of a large army of celebrities. Cher, Elizabeth Taylor, Michael Jackson and Elvis Presley have all been creating their own signature scents since the 1980s. Even in the 1990s, even athletes like Michael Jordan tried perfumery.
But it wasn't until the 2000s that celebrity scents really caught on. Think about your favorite pop divas of the 2000s and you'll find that nearly all of them have their own fragrances. The list will continue to be expanded by names like Christina Aguilera, Naomi Campbell, Jennifer Lopez, Olsen twins, Jessica Simpson, Britney Spears, Paris Hilton, Sarah Jessica Parker, Hilary Duff, Mariah Carey, Gwen Stefani. And that's just the beginning.
Deep engagements
With the charms of previous decades, the public was not too surprised, but even considered it a natural step when celebrities used perfume to open the door to go deep into the beauty industry. However, perhaps only when it comes to the success of Kylie Cosmetics and Fenty Beauy, the phenomenon of star beauty business really arrived.
Kylie Jenner helped start her holistic beauty brand with the hit Kylie Lip Kits in 2014 and has since become a multi-millionaire businesswoman. Her brand currently includes makeup as well as skin care products, with the most recent launch being Kylie Skin Makeup Melting Cleanser. But it seems Kadashian's youngest sister also wants to expand her market share into baby care as there are many reports that she has registered a new trademark with the name "Kylie Baby".
Meanwhile, Rihanna's Fenty Beauty has undoubtedly changed the beauty industry. When she launched the Pro Filt'r Soft Matte Longwear Foundation in more than 40 colors that cover a wide range of skin tones, Rihanna created a "Fenty effect" by defying standards and attempting to push the boundaries of beauty. Colour and ethnicity has always been a perennial issue in the beauty industry: It is to this effect that existing brands on the market have also begun to expand their makeup lines to be able to provide more shades of color to the face.
With these attractive premises in terms of fame and revenue, many stars have embarked on building their own beauty brands. Celebrities who create beauty brands are now active in a variety of fields, including hair care, skin care, makeup, and beauty tools.
We now have Miranda Kerr's Kora Organics, Kim Kardashian West's KKW Beauty, Halsey's About Face, Lady Gaga's Haus Laboratories, Selena Gomez's Rare Beauty, Emily Ratajkowski's Loops Beauty, Pharrell Williams' Humanrace, JLo Beauty's JLo Beauty Jennifer Lopez, Jessica Alba Honest Company, Victoria Beckham's brand of the same name. Not to mention Kesha, Madonna, Cindy Crawford and Josie Maran have also ventured into this lucrative industry.
Why do stars love beauty so much?
Celebrities want to diversify their self-image. Not just actors or singers, they also want to be successful business owners. And the public's 'obsession' with the stars' skin care or makeup routines has made these businesses the perfect opportunity to monetize the stars themselves and their resources.
Something to note is that the beauty industry is one with a high profit margin. The advantages of fame and undoubted fan base have created the right pieces for the stars to thrive in the beauty field.
Right from its first IPO (first public offering), singer Jessica Alba's company Alba's Honest has raised more than $400 million. Rihanna's Fenty Beauty is estimated to have had sales of £2.2 billion since its founding in 2017. Kim Kardashian's KKW Beauty is valued at around $1 billion.
Most of the cosmetic brands of the stars are in a very positive state of "making money". Part of this success comes from the media effect, the quality of the product itself and importantly, the fan community. By spending money on these products, fans will feel that they are getting closer and closer to their idols and their beauty.
However, what comes too quickly and too much brings a higher the risk of the market becoming oversaturated. Therefore, celebrities need to be careful and calculated when marketing their brands. Authenticity, quality and variety are important. They need to offer quality products that are different from the rest to be successful, or else they will fail as consumers have many choices from thousands of other brands.
