Amy Yuan, a computational physicist, to see if there was a way to create and scale a customized skincare line. When, in fact, “one size fits none.” Zhao’s direct experience revealed that skincare products need to be tailored to the individual in order to be effective. Zhao hypothesized that the dissatisfaction was likely due to the fact that products were made as “one size fits all”. As it turns out, the skincare industry is a $155 billion global industry and 1 in 2 people are not satisfied with their products.
Zhao’s personalized experience spawned a desire to research the skincare industry to see if there was a potential business opportunity. Factors such as skin type, lifestyle, and seasonal and geographic environments, all play a role in the beauty of one’s skin and the products needed to maintain its vibrancy.
That is, until she was introduced to a specialist who created a tailored skincare regime for her face.Ī lightbulb went off for Zhao. She tried expensive products to fix the problem, but none of them worked. One day she looked in the mirror and could not believe the state of her skin. The long days and stressful demands of the job were taking a toll on her mind, body, and skin. Prior to launching PROVEN, Zhao, a Harvard MBA graduate, was working 14+ hour days as a private equity investor. PROVEN Skincare was founded by Ming Zhao in 2017 and launched its first product in 2019. At Money & Mimosas, PROVEN Skincare has caught our attention as one of the top beauty stocks to consider. Their revenue growth is 21%, 57.6%, and 9.9%, respectively YoY, and Ulta’s stock price of $407.32 (as of July 25, 2022) is a stock market darling in the midst of a graveyard of tech stocks plummeting into the abyss.ĭiversifying your investment portfolio to include skincare brands could be a way to recession-proof a portion of your wealth. Skincare and cosmetic stocks such as Ulta Beauty (ULTA), Olaplex Holdings (OLPX), and The Estée Lauder Companies (EL) have experienced tremendous growth over the past 12 months. Public skincare companies are also faring well - further proof that the industry some may deem as outdated and vain may be the only one with financial substance.
0 kommentar(er)
