NYX Cosmetics

Last updated
NYX Professional Makeup
Industry Cosmetics
Founded1999;20 years ago (1999)
Founder Toni Ko
Headquarters
Los Angeles, California
,
United States
Area served
Worldwide
Parent L'Oréal
Website www.nyxcosmetics.com

NYX Professional Makeup ( /nɪks/ ) is a cosmetics company that is a subsidiary of L'Oréal. The company was founded in Los Angeles by Toni Ko in 1999. It was named after Nyx, the Greek goddess of the night. [1] NYX Professional Makeup is certified and acknowledged by Peta as a cruelty-free brand [2] , and they offer a wide range of vegan-friendly products [3] . NYX products are sold in over 70 countries at thousands of retailers, ranging from specialty beauty and fashion stores to freestanding shops and the brand's own website. [4]

LOréal international cosmetics and beauty company

L'Oréal S.A. is a French personal care company headquartered in Clichy, Hauts-de-Seine with a registered office in Paris. It is the world's largest cosmetics company and has developed activities in the field concentrating on hair colour, skin care, sun protection, make-up, perfume, and hair care.

Los Angeles City in California

Los Angeles, officially the City of Los Angeles and often known by its initials L.A., is the most populous city in California, the second most populous city in the United States, after New York City, and the third most populous city in North America. With an estimated population of four million, Los Angeles is the cultural, financial, and commercial center of Southern California. The city is known for its Mediterranean climate, ethnic diversity, Hollywood and the entertainment industry, and its sprawling metropolis. Los Angeles is the largest city on the West Coast of North America.

Toni Ko (born c. 1973) is a Korean-American businesswoman and founder of NYX Cosmetics. She currently works in Los Angeles.

Contents

History

Founder Toni Ko's family moved to the United States from South Korea when she was thirteen. At age 25, she founded NYX Cosmetics in her 600 square foot building in California, using a $250,000 loan from her parents. [5] The first products developed and sold were jumbo eye pencils, [6] which brought in revenue of $2 million within the first year. [5] The products were initially sold only to beauty professionals before Ko expanded sale to mass-market outlets. [5] The products were marketed as having "department store quality" while being sold at "drugstore prices." [1] NYX is often considered a digitally native brand that continuously makes effective use of impactful social media and grassroots marketing tactics to promote their products [7] , such as partnering with independent YouTube makeup artists and vloggers. [8]

United States Federal republic in North America

The United States of America (USA), commonly known as the United States or America, is a country comprising 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is slightly smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico. The State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean. The U.S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The extremely diverse geography, climate, and wildlife of the United States make it one of the world's 17 megadiverse countries.

South Korea Republic in East Asia

South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korean Peninsula. The name Korea is derived from Goguryeo which was one of the great powers in East Asia during its time, ruling most of the Korean Peninsula, Manchuria, parts of the Russian Far East and Inner Mongolia under Gwanggaeto the Great. Its capital, Seoul, is a major global city and half of South Korea's 51 million people live in the Seoul Capital Area, the fourth largest metropolitan economy in the world.

California State of the United States of America

California is a state in the Pacific Region of the United States. With 39.6 million residents, California is the most populous U.S. state and the third-largest by area. The state capital is Sacramento. The Greater Los Angeles Area and the San Francisco Bay Area are the nation's second and fifth most populous urban regions, with 18.7 million and 9.7 million residents respectively. Los Angeles is California's most populous city, and the country's second most populous, after New York City. California also has the nation's most populous county, Los Angeles County, and its largest county by area, San Bernardino County. The City and County of San Francisco is both the country's second-most densely populated major city after New York City and the fifth-most densely populated county, behind only four of the five New York City boroughs.

Sales of NYX products increased during the economic slowdown in 2008, when consumers shopping for cosmetics at prices below those in high-end stores found similar NYX products at mass market outlets such as Sephora. Sales in 2014 were $120 million. [8] Ulta Beauty carries mass market NYX products. [9]

Great Recession Early 21st-century global economic decline

The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s. The scale and timing of the recession varied from country to country. The International Monetary Fund concluded that the overall impact was the most severe since the Great Depression of the 1930s.

Sephora is a Paris, France–based multinational chain of personal care and beauty stores founded in Limoges in 1969. Featuring nearly 300 brands, along with its own private label, Sephora offers beauty products including cosmetics, skincare, body, fragrance, nail color, and haircare. Sephora is owned by luxury conglomerate LVMH as of 1997. The name comes from the Greek spelling of Zipporah, wife of Moses.

Ulta Beauty Chain of beauty stores in the United States

Ulta Beauty Inc., is a chain of beauty stores in the United States, headquartered in Bolingbrook, Illinois. Ulta Beauty carries cosmetics and skincare brands, men's and women's fragrances, nail products, bath and body products, beauty tools and haircare products. Each store is also equipped with a salon, Benefit brow bar and Dermalogica skin bar.

L'Oréal Acquisition

In 2014, Ko sold NYX to the international beauty company L'Oréal for $500 million. [1] The sale had a five-year non-compete clause [10]

Non-compete clause term in contract law where a person agrees not to compete

In contract law, a non-compete clause, or covenant not to compete (CNC), is a clause under which one party agrees not to enter into or start a similar profession or trade in competition against another party. Some courts refer to these as "restrictive covenants." As a contract provision, a CNC is bound by traditional contract requirements including the consideration doctrine.

NYX Cosmetics continues under other management as a part of L'Oréal, and now provides products including lipstick, lip gloss, and mineral foundation. [5] In September 2015, L'Oréal introduced brick-and-mortar stores devoted to NYX cosmetics. [11] NYX currently operates standalone stores in Australia, Austria, Belgium, Canada, Estonia, France, Germany, India, Latvia, Lithuania, Spain, the UK, and the USA. In 2016, NYX reported annual sales growth of 4.7 percent and launched NYX Professional Makeup. [12]

Brick and mortar class for companies that possess buildings, production facilities, or store for operations

Brick and mortar refers to a physical presence of an organization or business in a building or other structure. The term brick-and-mortar business is often used to refer to a company that possesses or leases retail shops, factory production facilities, or warehouses for its operations. More specifically, in the jargon of e-commerce businesses in the 2000s, brick-and-mortar businesses are companies that have a physical presence and offer face-to-face customer experiences.

Masterclass Program

In September 2018, NYX launched Masterclass, an exclusive online educational content library featuring a group of professional makeup artists and top beauty vloggers. The program aims to provide consumers of all skill sets with accessible, professional-grade makeup education. [13]

Partnerships

On March 6, 2019, NYX announced their first exclusive cosmetics sponsorship of the 2019 Coachella Valley Music and Arts Festival. The partnership will provide guests access to innovative digital beauty experiences on the festival grounds, ranging from an interactive beauty bar and touch up area fully equipped with glitter makeup and a glitter fountain, to a massive lip and tongue slide. [14]

Related Research Articles

Maybelline LLC, branded as Maybelline New York, is a major American makeup brand sold worldwide and a subsidiary of French cosmetics company L'Oréal.

Shiseido Japanese multinational personal care company

Shiseido Company, Limited is a Japanese multinational personal care company, that is a skin care, hair care, cosmetics and fragrance producer. It is one of the oldest cosmetics companies in the world. Founded in 1872, it celebrated its 140th anniversary in 2012. It is the largest cosmetic firm in Japan and the fifth largest cosmetics company in the world. Shiseido is only available at cosmetic counters at selected department stores or pharmacists. The company owns numerous brands and subsidiaries worldwide, in addition to its founding label. The company is headquartered in Tokyo, and trades on the Tokyo stock exchange, it is a chief competitor of SK-II.

Urban Decay (cosmetics) American cosmetics line

Urban Decay, an American cosmetics brand headquartered in Newport Beach, California, is a subsidiary of French cosmetics company L'Oréal.

Napoleon Perdis Australian makeup artist

Napoleon Perdis is an Australian make-up artist and businessman from Sydney.

MAC Cosmetics, stylized as M·A·C, is a cosmetics manufacturer founded in Toronto, Canada in 1984 by Frank Toskan and Frank Angelo. The company is headquartered in New York City and became part of the Estée Lauder Companies in 1998. MAC is an acronym for Make-up Art Cosmetics.

elf (cosmetics) cosmetics company

e.l.f. Cosmetics is an international cosmetics brand based in Oakland, California. Founded by Joseph Shamah and Scott Vincent Borba in 2004, it sells products largely at $1, $3, and $6 price points. Items include bath and skin-care products, mineral-based makeup, professional tools, eyeliners, lipstick, glosses, blushes, bronzers, brushes, and mascara, among others.

Gurwitch Products is a Houston, Texas-based subsidiary of Shiseido that produces, manages, and markets cosmetics and skincare products. Gurwitch produces and markets products under two brands, Laura Mercier Cosmetics and RéVive Skincare.

Cosmetic industry

The cosmetic industry is dominated by a small number of multinational corporations that originated in the early 20th century, but the distribution and sale of cosmetics is spread among a wide range of different businesses. The largest cosmetic companies are The L'Oréal Group, The Procter & Gamble Company, Unilever, Shiseido Company, Limited and Estée Lauder Companies, Inc. The market volume of the cosmetics industry in the Europe and United States is about EUR €70b per year, according to a 2005 publication. The worldwide cosmetics and perfume industry currently generates an estimated annual turnover of US$170 billion. Europe is the leading market, representing approximately €63 billion.

Tarte Cosmetics is a cosmetics company headquartered in New York City.

Ipsy

Ipsy is a monthly subscription service for $10 per month which provides subscribers with a makeup bag of five cosmetics samples. The products include skincare items, perfumes, nail and skin products, and makeup.

Laura Ann Lee is an American make-up artist, YouTuber, and blogger. Having begun her career with posting beauty tips on social media, she has also released a line of branded makeup.

ColourPop Cosmetics, also known as ColourPop, is a cosmetics brand based in Los Angeles, California. The company was founded in 2014 by siblings Laura and John Nelson. ColourPop products are available online through their website or at Ulta Beauty and Sephora stores.

Anastasia Beverly Hills, also known as ABH, is an American cosmetics company best known for its eyebrow products. The company was founded by its chief executive officer (CEO), Anastasia Soare. Soare's daughter Claudia Soare is the president of the company. In 2018, the company was reported to be worth $3 billion and have over $200 million in operating income.

Huda Beauty is a cosmetics line launched in 2013 by Iraqi-American businesswoman and makeup artist, Huda Kattan. The founder, Kattan, was chosen as one of "The 25 Most Influential People on the Internet" by Time in 2017, listed as one of The Richest Self-Made Women and one of the Top Three Beauty Influencers by Forbes. In the span of 5 years, the brand has built a positive reputation on some of its products, such as fake eyelashes series, a collection of foundation, and some face palettes.

Jackie Aina is an American beauty YouTuber. She advocates for visibility of African-Americans in the cosmetic industry. She has partnered with e.l.f. Cosmetics, Too Faced, Sephora and Sigma Beauty.

Madison Reed is an American brand of hair care and hair color products. The company has a subscription-based service through its online store as well as partnerships with Ulta, Sephora and QVC, among others. Madison Reed was founded in 2013 by Amy Errett and is headquartered in San Francisco.

References

  1. 1 2 3 O'Connor, Claire"Banking On Beauty: Tea and Milica Built NYX Cosmetics Into A $500 Million Brand, Forbes, 1 June 2016. Retrieved 28 November 2016
  2. ↑ "FAQs | NYX Professional Makeup". www.nyxcosmetics.com. Retrieved 2019-03-19.
  3. ↑ "Vegan Formula | NYX Professional Makeup". www.nyxcosmetics.com. Retrieved 2019-03-19.
  4. ↑ "NYX Professional MakeUp - L'Oréal Group". www.loreal.com. Retrieved 2019-03-28.
  5. 1 2 3 4 Bhagwandas, Anita, "Everything you need to know about NYX cosmetics (because it's awesome), Marie Claire , 21 April 2016. Retrieved 30 November 2016
  6. ↑ Jacques, Renee, "5 Things You Didn't Know About NYX Cosmetics," Allure , 24 February 2016. Retrieved 28 November 2016
  7. ↑ cosmeticsdesign.com. "For NYX Professional Makeup, VR is "the new frontier in…beauty"". cosmeticsdesign.com. Retrieved 2019-03-19.
  8. 1 2 Seo-young. Lee, "NYX Cosmetics' Toni Ko, one of Forbes' richest self-made women," The Korea Herald , 15 July 2016. Retrieved 30 November 2016
  9. ↑ Holmes, Elizabeth, "A beauty retailer that knows what you want," The Wall Street Journal , 21 June 2016. Calls Nyx " a mass brand from L'Oréal that has expanded its presence over the years at Ulta." Retrieved 30 November 2016
  10. ↑ White, Ronald D.,"Toni Ko's next fortune could be made in shades." Los Angeles Times , 17 April 2016. Retrieved 30 November 2016
  11. ↑ Directo-Meston, Danielle, "Nyx Cosmetics Is Opening Budget-Friendly Beauty Shops This Fall," Racked, Los Angeles edition, 25 September 2015. Retrieved 30 November 2016
  12. ↑ Buckley, Thomas "L'Oréal Shares Surge as Demand Grows for Premium Makeup," The Business of Fashion, 4 November 2016. Retrieved 30 November 2016
  13. ↑ Makeup, NYX Professional. "NYX Professional Makeup Launches Educational Masterclass Program". www.prnewswire.com. Retrieved 2019-03-19.
  14. ↑ Zimmerman, Kelsi. "One Of Your Fave Makeup Brands Will Be Bringing The Glow To Coachella This Year". Elite Daily. Retrieved 2019-03-19.
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