Tracy Holland, HATCHBEAUTY
Tracy Holland is the CEO of HATCHBEAUTY, a West L.A. company that incubates fledgling beauty brands and forecasts industry trends for such clients as Walmart and Walgreens. The vertically integrated company also develops on-trend brands in collaboration with retailers.
“When I started HATCHBEAUTY, it was through a process of navigating my own career and analyzing where there were needs in the beauty industry.”
That path led Holland to entrepreneurs and inventors who had intellectual property (IP) around concepts such as the first scented nail polish, first spray on silk hosiery and the first microfiber fabric, which used to be a patented technology. Creating innovation, seeing those ideas come to life, protecting them with patents, and then leveraging a smart and expansive distribution strategy were the flashpoints that gave rise to HATCHBEAUTY.
Simultaneously creating a company, nurturing the subsequent career and raising young children taught Holland valuable lessons. “Many women wonder how you navigate life requirements while running a company. There’s no rule book, which is what I try to inspire in my team. Women wanting to continue their career and have children can find flexibility and balance in their decisions. I try to show them it’s not all-or-nothing and you don’t have to sacrifice one for the other.”
Growing HATCHBEAUTY, thinking bigger and beyond the three and five-year horizons of growth, Holland actively sought out women executives with whom she could build relationships. This led her to Christie Hefner, the longest serving female chair and CEO of a US public company. “Christie is dynamic, thoughtful, smart and strategic. I asked her to be my mentor and she agreed. In 2014, she joined as HATCHBEAUTY’s chairman.”
Paying the advice forward, Holland regularly has brown bag lunches and works closely with her staff on perspective and challenges to consider. Outside of the company, she is an active member of the Young Presidents Organization (YPO). With 26,000 members, only 4 percent are women, which made Holland decide to join the membership committee and recruit women executives to chapters in their cities. “I want to help women and inspire them to become sophisticated business leaders in their industry.”
When asked for the best piece of advice she received when starting her company, Holland laughed and said, “I wish I had been given advice when I started! My dad is a nuclear physicist and my mom is PhD. They were always worried I didn’t have a 401k or benefits and felt I’d be at a disadvantage.”
Holland was nominated for and won an EY Entrepreneur of the Year 2017 Greater Los Angeles Region award. Her parents were excited.
Lisa Hoffman, Lisa Hoffman Beauty
Lisa Hoffman is the founder and president of Lisa Hoffman Beauty, a Los Angeles-based perfumer. She delves into the creative process by focusing on a woman’s life – from the everyday to the adventurous – and seamlessly integrates fine fragrance into the lifestyle of contemporary women. This combination has led to the creation of a brand that's aesthetically beautiful and uniquely wearable.
Inspiration can strike at any time. For Hoffman, she found her passion at a very early age. “As a young child, I was gifted a perfume-making kit and my first experiment was attempting to recreate my beloved grandmother’s iconic Chanel No 5 perfume.” Since then, fragrance has become the artistic medium for Hoffman to express herself. She turned her passion into an art form and, ultimately, a company after her youngest child left for college.
Crafting fragrance is not only an expression but a personal process, and for Hoffman it starts with a memory or inspiration from her travels. Much like a painter and blank canvas, her art can either actualize quickly or take years until she’s satisfied with the creation. “When I become obsessed with a scent or a jewelry design in development and find myself constantly wearing it, that's when I feel others will have the same reaction.”
Hoffman believes it’s important for all people – but especially women – to do what they love. Finding your passion lends authenticity to your work, company, brand – and that resonates with people. Pinpointing one woman she admires is difficult: “There are so many women I appreciate. Those who are able to embrace change, celebrate their individuality, and work hard to stay current in this incredibly fast paced world and never stop trying to better the lives of other women. This creates a momentum and energy that I strive for in my personal and professional life.”
Hoffman’s best advice is to never be satisfied with what you know. Always open yourself to learning from others no matter where you are in your career because everyone possesses different life experiences that you can learn from.
As the phrase goes, “empowered women empower women” and as a female entrepreneur, it’s important to push our professional aspirations. Whether that’s creating our own company or aiming for the C-Suite, there is no shortage of successful, brave, amazing women we can look to and learn from in the beauty and personal care industry.
ABOUT THE AUTHOR
Jennifer Stansbury is co-founder of The Benchmarking Company and a board member of The Independent Cosmetic Manufacturers and Distributors (ICMAD), a non-profit trade association supporting creative, innovative companies, from startups to established multinational businesses of all sizes. ICMAD’s goal is to help its members succeed in the rapidly changing, highly competitive global cosmetics and personal care industry. Since 1974, ICMAD has provided essential guidance and support through business tools, publications, education, networking opportunities, and key advocacy support. Stay on top of the latest industry regulations, news and events with ICMAD online at www.icmad.org, Facebook, Twitter, InstagramandLinkedIn.