From the clean revolution to the CBD expansion, we’ve all had a front-row seat to the beauty industry's global boom lately. But don’t take my word for it—let’s take a look at the stats. The global cosmetic products market is expected to reach $805 billion U.S. by 2023 and with the rise of natural and organic products, it’s not surprising that this sector is already worth an estimated $36 billion—but this figure is predicted to grow to $54 billion by 2027. 

This just proves that the industry was ripe for disruption and we’ve seen a ton of young, indie brands do just that. Cool break-out brands is entering the space with new ideas and business models we’ve never seen before, capitalizing on the consumer demand for value-driven companies with simple, sustainable, and clean beauty solutions. It’s safe to say that entrepreneurship is boiling over in the beauty industry.

We spoke with a few of those brands who are setting the new standards for beauty and wellness brands on this panel, Rise & Shine at the recent Self Care Summit. Listen in to hear what they have to say about where the industry is headed and how you can capitalize on its expansion, too.

Panelists:

Shiva Rose | Founder of the Local Rose and Alchemist Creator of Shiva Rose Beauty

Rose was at the forefront of the organic and natural beauty market with her own line of cosmetics—now the industry is valued at over $13 billion.

Savannah Hobbs | Head of Communications, Purple

As head of communications, Hobbs wears many hats but above all, her work as been instrumental at building the company to its current valuation of $1.1 billion.

Vanessa Lee | Founder, The Things We Do

As a medical aesthetic provider, Lee is dedicated to natural beauty which seems out of the norm for this sector. But despite everyone telling her it was a “bad idea” to combine Eastern and western wellness and beauty treatments, her company is now in the top 1% success rate nationally for profitability in the cosmetic/medical industry— pairing natural with cosmetic beauty feels new and disruptive.

Jessica Chan | Director of Business Development and Strategic Planning, IDEWCARE

Chan’s success has been in listening to the customer and giving them what they want. This strategy has seen many of their products go viral and sell-out instantly—ever heard of Disco Kitten? This year, Memebox, the umbrella company of I Dew Care, closed a $35 million Series D funding which takes them to a total of $190 million in funding to date.

Michelle Aufmann | Regional Education and Sales West, Biossance

Under Aufmann’s direction, Biossance was on track last year for a 300% year-over-year growth with expected annual revenue of at least $8 million. It’s now the fastest-selling skincare brand in North America.

Moderator:

Sacha Strebe | Editorial Director, Create & Cultivate

As editorial director, Strebe is responsible for the editorial vision, direction, and tone of the Create & Cultivate blog while also looking for new and creative opportunities for the brand to expand both editorially and experientially.