Celebrity beauty brands surpassed US$1bn in sales in 2023, according to new findings from trend forecaster NIQ.
The analyst tracked the sales of 43 celebrity-founded beauty brands in the US, including Rihanna’s Fenty Beauty, Kylie Jenner’s Kylie Cosmetics, Selena Gomez’s Rare Beauty and more.
Sales of celebrity brands in the US surged by almost 58% compared with the year before in the year ended November 2023.
This is a significant increase compared with the total beauty category, which was up by 11% in the same period.
Almost 21 million US households currently purchase celebrity beauty brands, an almost 22% increase on the year prior, found NIQ.
The biggest celebrity beauty buyers in the region were found to be those from “large, young, diverse, higher income households”, said NIQ, who spend more than the average consumer on beauty and personal care products per year.
The beauty market has grown increasingly saturated with celebrity beauty launches in recent years, with the likes of Harry Styles to Idris Elba entering the category.
However, launches slowed down in 2023, NIQ revealed, with last year seeing just 6 new celeb-fronted launches, compared to a peak of 19 in 2021.
Despite the success stories, NIQ cautioned that consumer fatigue around celebrity brands may be starting to set in, adding that factors such as authenticity and inclusivity will be key to winning over consumers.
Actor Jared Leto’s skin care brand Twentynine Palms, for example, was reported to be facing closure, just one year after its launch in 2022.
Beauty influencer Jaclyn Hill also recently announced that her beauty brand Jaclyn Cosmetics is closing down.
However, the market is still poised for growth in 2024, with fresh launches such as Beyoncé’s upcoming hair care line expected to generate consumer excitement, according to NIQ.
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