A ‘beautiful’ opportunity for private brands
Private label beauty increasingly is a hot new growth category for retailers and suppliers to grow their businesses.
According to Glossy, private label beauty brands by retailers are not a new concept, but they are increasing at a faster-than-ever rate.
The private label segment grew by nearly 4 percent between 2013 and 2018. Further indicating the increased power that private label could have on the overall industry is the boost in investment in beauty brand incubators. These incubators serve as one-stop shops for product and research support, formulations and manufacturing, packaging, and, even, marketing and content.
Just within the last month, companies such as Dollar General and Amazon have released private label beauty brands. Dollar General’s 150-product line that lands in its 15,400 stores in May and will expand to 975 more locations later this year doesn’t have a influencer or celebrity attached, either. Nothing in the collection is over $5.