NYX
| ISIN | 🆔 |
|---|---|
| Industry | Cosmetics |
| Founded 📆 | 1999 |
| Founder 👔 | Toni Ko |
| Headquarters 🏙️ | , Los Angeles, California , Unites States |
Area served 🗺️ | Worldwide |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
| {{#set:Twitter= }} | |
NYX cosmetics (Pronounced "niks") started as a small company in May 1999, founded in Los Angeles by Toni Ko. It was named for Nyx, a Greek goddess of beauty.[1] By 2014 the company said its products including blush and eye liner sold in seventy countries, with yearly sales of 93 million dollars.[2]
Ko, whose family moved to the US from Korea when she was 13, started this product at the age of 25 in her 600 square foot building in California.[3] The first product from the Nyx company was jumbo eye pencils.[4] This product brought in revenue of $2 million the first year, after starting business with a two hundred fifty thousand dollar loan from her parents.[3] The products were initially sold only to beauty professionals, before Ko expanded sale to mass-market outlets.[3] The products were marketed as having "department store quality" while being sold at "drugstore prices."[1] Nyx used social media effectively to promote their products, such as by sending free product to independent YouTube makeup artists and vloggers.[5] 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. 2014 sales were $120 million.[5] Ulta Beauty carries mass market Nyx as well as top end brands.[6]
In 2014, Ms. Ko decided to sell her NYX business to the international beauty company L'Oréal for five hundred million dollars.[1] After selling to L’Oréal , with a five-year non-compete clause, she retired for a couple months. Then she realized that she wanted to be working, and set about creating a company to make and sell sunglasses.[7] Forbes estimated her 2016 net worth at $260 million.[1] The Nyx company continues under other management as a part of L’Oréal, and now offers a wide variety of products including lipstick, lip gloss, and mineral foundation.[3] In 2016, L'Oréal introduced brick-and-mortar stores devoted to Nyx cosmetics.[8] In 2016, Nyx reported annual sales growth of 4.7 percent and rolled out Nyx Professional Makeup.[9]
References[edit]
- ↑ 1.0 1.1 1.2 1.3 [1] O'Connor, Claire"Banking On Beauty: How Toni Ko Built NYX Cosmetics Into A $500 Million Brand, Forbes, 1 June 2016. Retrieved 28 November 2016
- ↑ [2] Roberts, Andrew, "L’Oreal agrees to acquire U.S. makeup-artist brand NYX Cosmetics," The Business of Fashion,18 June 2014. Retrieved 30 November 2016
- ↑ 3.0 3.1 3.2 3.3 [3] Bhagwandas, Anita, "Everything you need to know about NYX cosmetics (because it’s awesome), Marie Claire, 21 April 2016. Retrieved 30 November 2016
- ↑ [4] Jacques, Renee, "5 Things You Didn't Know About NYX Cosmetics," Allure (magazine), 24 February 2016. Retrieved 28 November 2016
- ↑ 5.0 5.1 [5] Seo-young. Lee, "NYX Cosmetics’ Toni Ko, one of Forbes’ richest self-made women," The Korea Herald, 15 July 2016. Retrieved 30 November 2016
- ↑ [6] 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
- ↑ [7] White, Ronald D.,"Toni Ko's next fortune could be made in shades." Los Angeles Times, 17 April 2016. Retrieved 30 November 2016
- ↑ [8] Directo-Meston, Danielle, "Nyx Cosmetics Is Opening Budget-Friendly Beauty Shops This Fall," Racked, Los Angeles edition, 25 September 2015. Retrieved 30 November 2016
- ↑ [9] Buckley, Thomas "L’Oréal Shares Surge as Demand Grows for Premium Makeup," The Business of Fashion, 4 November 2016. Retrieved 30 November 2016
{{#set:Technical tag=Article from Wikipedia}}{{#set:priority= }} {{#set:PageName=NYX_Cosmetics }}
This article "NYX Cosmetics" is from Wikipedia. The list of its authors can be seen in its historical. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.{{#set:Article=true}}
