Rodan and Fields named top skincare brand in the US
According to a recent report from market research company Euromonitor, the secret to the success of many big beauty players like L’Oréal and Estée Lauder has been acquisitions. It helps too that the industry as a whole enjoyed steady growth in 2016, thanks to rising employment and falling fuel prices.
But dermatology-inspired skincare brand Rodan and Fields managed to achieve an impressive one billion dollars in revenue in 2016, which moved the brand from number six to number one in the U.S. And it did it all on its own.
The secret to Rodan and Fields’ success? Most likely the decision to move out of the high-end department store space where it launched in 2002. One year later, the brand was acquired by The Estee Lauder Companies Inc. and re-launched as a direct sales company. The decision to pivot the business model was made by founders Dr. Katie Rodan and Dr. Katy Fields, who also were able to buy back the company in 2007. They saw a growing trend among consumers who were unknowingly marketing their company through word-of-mouth enthusiasm for their products.
According to Euromonitor, Rodan and Fields has remained the number one fastest skincare brand in the U.S. over the last six years, a cachet the company has managed to retain due to the brand’s commitment to product innovation and technology, evolving its business with a rapidly changing digital world and seizing the opportunity to reach the public in a more meaningful way via its direct sales approach.
Copyright © 2022 FashionNetwork.com All rights reserved.