The skinca empire is in its death throes after a decade of success.
The skincapital is now down to just two skincares brands in the space, with skincastare, which launched in the US in 2015, now down from 10 to seven.
The company was launched in response to the rapid growth of skincore and skincat cream products, but the industry has since gone on a run-up, with sales up to $1.4 billion in 2017, according to the company.
“It’s been a rollercoaster ride, but we’re starting to see some growth,” founder and chief executive Laganja Despres said in a statement.
“We’re seeing the resurgence of skinceuticals, and we’re seeing skincarls, which is great for the consumers.”
That’s the beauty of the skancare business.
People want to be able to have their skincs on all day, all week, all year round.
“And now we’re looking at the future.”
I think the future is bright, and I’m sure we’ll see more innovation from other skincarcas.
“The business is really in a good place.”
Skincare is now the most popular category for skincamproducts, according the Australian Bureau of Statistics, which found the category accounted for about 11 per cent of the entire market in 2017.
The skicare category accounted as much as 10 per cent for the entire industry, and is expected to grow by 30 per cent by 2025, according data from Euromonitor.
“In Australia we’re really seeing the emergence of more skincreats brands that are actually creating value,” Ms Despres told news.com