Jane Park is on a mission.
The trailblazing CEO and founder of Julep Beauty Inc. is attempting to style her company into the next big beauty brand by ripping up the old playbook of selling cosmetics through glamorous celebrities and glitzy department stores. Instead, she’s creating a unique customer experience for each and every woman who interacts with her brand.
That use of curated commerce, or curated retailing as it’s often called, is among the most important of several strategies Julep is deploying to disrupt the traditional beauty counter model and build a loyal following of women for its proprietary brand of nail polish, makeup, skin care and accessories, Park says. Moving quickly to design and deliver popular products is another essential ingredient for success.
The cosmetic market is big: Nearly $500 billion is spent globally on beauty and personal care products. Purchases are expected to surpass that mark by 2016, according to Euromonitor International, a market research firm. Analysts say companies in the beauty sector, along with other types of consumer goods, are especially poised to take advantage of the benefits of curated retailing.
Unlike Birchbox, the popular monthly subscription service that selects only brand-name samples of beauty and lifestyle products, Julep develops some 300 of its own products in-house each year based in part on feedback from a select group of customers. Julep’s team chooses the combination to assemble for monthly delivery by combing through survey data from subscribers about their style and color preferences so packages match their profiles. Members can further customize by swapping out products when they get a sneak peek at their selection online before it’s mailed. Subscriptions run from $19.99 to $39.99 per month, depending on terms.