Millennials are building multimillion-dollar beauty empires on their massive Instagram and Snapchat followings, and it's disrupting a centuries-old industry

YouTube influencer Michelle Phan launched a makeup subscription company, Ipsy, and her own cosmetics line, EM.Phan, reportedly worth $50 million, parlayed that success into the cosmetics industry with makeup subscription company Ipsy in 2011, valued at $800 million with more than 1.

"In the past, luxury brands sold through department stores and mass brands sold through drugstores," Jones said. Now, though,"the whole market has fragmented, providing the opportunity for the launch of many new brands." Over 1,000 beauty brands have entered the prestige market since 2015 because it's lucrative, healthy, and profitable, Larissa Jensen, beauty analyst atIt's also easier than ever before to create and launch a brand, Jennifer Walsh, co-founder of retailer Beauty Bar, consultant, and brand marketer, told Business Insider. And the power of digital has made it even easier to reach consumers.

"For decades, we had to rely on print media and TV to introduce a brand or products," she said."Now, we can have our own channel online. If you have a great product, beautiful packaging, and are good at storytelling, you can truly get your message/product out to others quickly.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Opinion | Uber built a billion-dollar company on the work of drivers it won't acknowledgeOpinion | Mostafa Maklad: To Uber, I'm a driver but not a worker. But their billion-dollar IPO is built off my labor. - NBCNewsTHINK THINK So start your own. I'm sure people will jump into your car just being some dude. THINK You're independent contractors. THINK Welcome to independent contractorville
Fuente: NBCNews - 🏆 10. / 86 Leer más »

Forget real estate — 'art flipping' is the latest way rich millennials are building wealth, and it's an investment baby boomers largely ignoredRich millennials are more likely than baby boomers to buy art as an investment. Buying art with the hope of quickly reselling is known as 'art flipping.' Also good for money laundering
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »