$100m moguls: Aussie skincare and beauty empires that are going global
Australian-based skincare and beauty brands are expanding into the US, raking in millions of dollars as they make major moves overseas.
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Australian-born skincare and beauty brands are taking on the global industry with mind-blowing success.
Collectively — and in a short space of time — they have built a multimillion turnover, celebrity followings, and cult products that in some cases sell “every four seconds”.
And biting at their heals is an impressive wave of emerging Australian brands about to take their products to the next level.
Leading the main international push is Grown Alchemist, the Melbourne-based skincare brand which has been in “50 per cent growth for some time”.
Grown Alchemist co-founder Jeremy Muijs revealed the company had recently set up an office in New York – “just off Broadway” – as part of its “accelerated”, post-pandemic American expansion.
“The US has become an enormous focus for us,” Mr Muijs said.
Grown Alchemist has made a deliberate move to build its “dotcom” team out of New York, an arm of the business that was established entirely over Zoom, during the peak of Covid.
“We felt the dotcom space of North America and the online buying behaviour is different to Australia,” Mr Muijs revealed.
He described the US market as having “substantial” impact on Grown Alchemist’s bottom line.
“Look, just at sheer volume, a one per cent increase in North America is worth millions of dollars,” Mr Muijs said.
“A one per cent increase in Australia, while it’s important, it’s not the same volume of revenue”.
Stocked at US retailers including Bloomingdale’s, Niemen Marcus, Credo Beauty, Revolve, and Ulta, Mr Muijs said sales growth of Grown Alchemist in the market had been “beyond” 50 per cent. Domestically, Grown Alchemist can be found at its Carlton retail “lab” and in major department stores, such as David Jones where it has “concept counters”.
“Getting teams on the ground in local markets (overseas) is the focus,” Mr Muijs said. “Coming out of Covid, having a strategy where you can offer (an) experience in a bricks and mortar at quality retailers, is becoming a very important touchpoint for the consumer.
“We’re now looking beyond that virtual moment.”
While Grown Alchemist has attracted influential fans, Mr Muijs said unlike his rivals, the brand did not rely on celebrity endorsements.
“Celebrity endorsements will always be there, but they’re a bit fleeting and a bit ‘now’ – and sustainable growth means you’re offering an experience,” he said.
$100M BRAND
Another rising Australian beauty empire making inroads in the US is Sydney-based Vida Glow, which had an annual turnover of $100 million last financial year.
Founded in 2014 by Anna Lahey, Vida Glow – which recently launched into the US – is built around “scientifically formulated ingestible supplements that deliver real results”.
Its hero range of natural marine collagen products, including Vida Glow Marine Collagen Sachets ($70), is described as a “hydrolysed collagen peptide powder … to stimulate collagen production”, and recently launched a line of skincare products.
Ms Lahey said Vida Glow sells “one unit” every four seconds, and has shifted than more than 18 million units since its launch nearly eight years ago.
With retail partners in the UK, Germany and US, Vida Glow is stocked at Selfridges, Liberty London, Le Bon Marche, Douglas Germany, Melanie Grant Los Angeles, Revolve and Free People.
Ms Lahey said a key part of Vida Glow’s expansion plan in 2022 would be the launch of a new product in its Advanced Repair range of “targeted ingestible treatments to include products for hair loss and acne”.
Strategically, she said the business was “on a global trajectory with an expansion of stockists in countries, including the US, UK, and Germany”.
Vida Glow held a star-studded launch in The Beverly Hills Hotel last month, attended by “it” girls Sofia Richie and Victoria’s Secret model Elsa Hosk.
Two other Australian brands are being fated as Australia’s next big beauty moguls — Ere Perez and Habitual Beauty.
Created in Bondi by the brand’s eponymous founder, Ere Perez’s natural skin and makeup brand is described as “clean, vegan and fuss-free beauty essentials”.
It is already stocked in Australia via Mecca and in key South American markets, including Mexico (due to Ms Perez’s own Mexican heritage).
“Natural beauty is about how you live your life, how you connect with the world, how you nourish your body inside and out,” Ms Perez said.
Bestsellers at Mecca include Ere Perez Oat Milk Foundation ($54) – a dewy, medium coverage, long-lasting product, made from oat milk, peach and vitamin E – and the brand’s Quandong Green Booster Serum ($50).
With a big diversity push, Ere Perez’s makeup products span 120 colour variations.
Habitual Beauty was founded by Keira Rumble and is described as “scientifically formulated, luxurious skincare products and high-dose ingestible beauty supplements that work synergistically to transform your skin and overall wellbeing”.
Stocked at mega beauty retailers including Sephora, Habitual Beauty’s range spans five essential skincare products plus an Advanced Skin + Gut Health Collagen Elixir.
The brand also features tools including Habitual Rose Quartz Gua Sha and Facial Roller.
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Originally published as $100m moguls: Aussie skincare and beauty empires that are going global
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