Sales: $450 million (estimated).
Key Personnel: Eric Chen, founder, chief executive officer and president; Bill George, president and chief operating officer, Markwins Beauty Products.
Major Products: Skin care and color cosmetics—Physicians Formula, Black Radiance, Bonne Bell, Lip Smacker, Markwins International, Tropez, Wet ‘n’ Wild, Color Workshop, Spa Institute.
New Products: Bonne Bell and Lip Smacker cosmetics (acquisition); Wet ‘n’ Wild Max Volume Plus mascara.
Comments: Privately-held Markwins expanded its lineup of mass market color cosmetics offerings in a big way earlier this year with the acquisition of Bonne Bell and Lip Smacker brands. At the time of the Jan. 29 announcement, Jess “Buddy” Bell Jr., founder of Aspire Brands, owner of the iconic lip and skin care brands, said that Markwins had a proven track record of creating excitement and bringing innovation to the cosmetic category.
“They will bring the same excitement and innovation to the Lip Smacker and Bonne Bell brands. I am excited about the future ofthe Lip Smacker and Bonne Bell brands under Markwins ownership,” Bell said in a statement.
With this move, Markwins added the youth consumer to its customer base. Together with existing “masstige” brand Physicians Formula, industry-dominant entry point brand Wet n Wild, ethnic brand Black Radiance, and its successful collection business, brands under the Markwins umbrella cater to beauty consumers of all demographics, inclusive of age, ethnicity, lifestyle and preference.
“The synergies of adding another mass beauty brand, focused in color cosmetics, fits wonderfully into Markwins’ current global operations,” said Bill George, president and chief operating officer of Markwins Beauty Products. “Bonne Bell and Lip Smacker add new consumers to our growing portfolio without any consumer cannibalization or crossover.”
Eric Chen, chief executive officer of Markwins, noted that Bonne Bell is an industry icon with a rich history dating back 87 years and with 94% consumer recognition.
“These numbers are staggering in our business, but the smiles the name alone brings to the faces of the consumers are much more impactful,” he insisted.