Sales: $403 million
Key Personnel: Eric Chen, chairman and chief executive officer; Bill George, president and chief operating officer.
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, Bonne Bell and Lip Smackers.
New Product: Wet ‘n’ Wild 1-Step Wonder Gel.
Comments: Markwins calls itself the largest privately-owned cosmetics company in the US. Markwins’ brands are available in more than 50,000 retail outlets. Now, the company is reorganizing around three strategic pillars:
- Consumer-centric category management. Markwins plans to consolidate its branded portfolio to have dedicated customer service-centric sales, marketing and analytical support teams across all global regions.
- Greater investment in product innovation. Markwins will enhance existing R&D centers in Los Angeles and Shenzen, China with significant investment in “talent and resources,” according to the company. A satellite facility will open in Shanghai.
- Accelerate brand evolution. Markwins will continue to deliver the latest trends and beauty products to customers at an accessible price point. One example is Wet ‘n’ Wild 1-Step Wonder Gel.
Chen and company are off to a good start. The company says first quarter sales rose nearly 17%.