Rihanna, Selena Gomez and Jennifer Lopez are no longer just the faces of beauty brands|@fentybeauty; @rarebeauty; JLo Beauty|X; Facebook
Celebrity-owned beauty brands made $1.1 billion in 2023 sales, experiencing nearly 58% sales growth, while overall beauty saw only 11.1%, per NeilsonIQ’s analysis of 43 such brands.
Who are they?
Brands, including Rihanna’s Fenty Skin, Selena Gomez’s Rare Beauty, Gwyneth Paltrow’s Goop and Jennifer Lopez’s JLO Beauty, are the drivers behind the stellar billion-dollar sales that happened despite a decrease in new brand launches last year.
Nearly 21 million US households now purchase celebrity beauty products. The primary consumers are from large, young, diverse, higher-income families.
Anna Mayo, VP of Beauty Vertical at NIQ, reveals that celebrity beauty buyers spend an average of $1,003.64 annually, and the segment has grown by 21.9% over the past year.
Looking ahead
This year will see a decline in new celebrity brand launches, but more stars are expected to enter the beauty category at a slower pace.
Beyonce unveiled her new hair care brand, Cecred, this week.
Gone are the times when celebrities were just the face of beauty brands. They leverage social media like TikTok and Instagram to build communities and engage directly with their fanbase, skyrocketing sales of their beauty lines.