Sales: $403 million (estimated).
Key Personnel: Eric Chen, chairman and chief executive officer; Michael Shaw, chief operating officer.
Major Products: Skin care and color cosmetics brands that include Physicians Formula, Black Radiance, Bonne Bell, Lip Smackers, Tropez, The Color Workshop Wet ‘n’ Wild.
New Products: Wet n Wild Unicorn Glow collection, Lip Smackers Star Wars Tsum Tsum balms.
Comments: Privately held Markwins Beauty Brands, founded by Eric Chen more than 30 years ago, reaches consumers of all ages, ethnicities, economic statuses, and skin tones through a series of skin care and beauty brands that include Wet ‘n’ Wild, Physicians Formula, The Color Workshop, Black Radiance, Bonne Belle and Lip Smacker. All told, the company has a presence in 50,000 retail outlets including department, specialty, mass, drug, and food stores in more than 60 countries, spanning six continents.
Less than a year after appointing a new COO, Markwins hired a new staffer to take over these responsibilities. Michael Shaw joined the organization in May as global COO to lead all areas of operations, information, finance, and planning, aligning operations, IT, manufacturing and finance globally. Prior to this appointment, Shaw served as CEO and solution delivery lead at Aptis Consulting Group where he used his expertise to manage mergers and acquisitions, finance and technology projects, and improvement opportunities.
This spring, Markwins’ iconic Lip Smacker brand announced a campaign to crowdsource its next flavor. The brand asked fans to submit their suggestion with flavor name, three key ingredients and descriptors to its Instagram page. The winning flavor will be made into a Lip Smacker lip balm and sold exclusively on the brand’s website, with credit to the creator.