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Brands on the rise range from CBD-infused serums to sparkly makeup for tweens.
January 3, 2020
By: Melissa Meisel
Even after several years of dynamic growth, the indie beauty trend remains strong and aspiring entrepreneurs who are considering taking the leap into small business ownership in 2020 should be encouraged by recent survey results from Kabbage, Inc., a global financial services, technology and data platform. The survey found that the majority of entrepreneurs who are successful today started with little financial resources and experience. In fact, 44% of retail business owners said they started their companies with less than $5,000. Even more surprising, nearly all (94%) started their company with less than $50,000. Forty-one percent of respondents also started a business in an industry that was new to them and 42% of business owners started or took over their company before the age of 35, according to Kabbage. A successful indie beauty brand is able to bring true innovation to market. According to Independent Cosmetic Manufacturers and Distributors (ICMAD) President Dr. Ken Marenus, the industry is oversaturated with personal care brands, many falling into the category of “me too.” “With the huge volume of companies launching new products all the time, it becomes a sea of sameness and they all start blending together,” Marenus told Happi in an interview. “Indie beauty brands that are focused on disruptive innovation with efficacious products that deliver for the consumer are the most equipped to succeed in the future. It’s about doing something different or better than what’s been done before.” He suggested taking a successful technology, putting it in a new form and presenting it with quality and elegance so that it stands above the fray. Additionally, successful indie brands must have a vision for sustainable innovation and avoid falling into the category of “one hit wonders,” added Marenus. “Tossing CBD into a product doesn’t make it innovative. A new box is not innovative. Something off the shelf of a third-party manufacturer is not innovative,” he insisted. “However, a new use form could be innovative. Disruptive innovation is focused on something that represents a real advance and also includes the novel approach of how you story tell and market that new innovation.” Here’s a look at some of the rising indie beauty brands.
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