Taste Beauty, the US beauty product manufacturer, has revealed a new business structure based on three segments.
The company, which is known for creating flavoured lip balms and novelty beauty gifts, will implement three business divisions: Taste Beauty, Taste & Friends and Taste Labs.
Taste Beauty encompasses the company’s beauty brand targeted at Generation Z, which are inspired by pop culture and designed to encourage sharing on social media.
Meanwhile Taste & Friends will be the business’ licensing arm; current partners include Disney, Nickelodeon, Universal, General Mills, Pepsi and more.
The Taste Labs business division will be a brand and product development incubator.
Alex Fogelson, Taste Beauty's Managing Partner, said: “We believe this structure will allow us to be an even more nimble, flexible & creative resource for the marketplace.
"This new model comes heels of closely listening to our customers and partners, and their needs in the rapidly evolving retail and media landscape."
Taste Beauty's products include Felicia the Flamingo, Spinner Lip Gloss and Nail Swag.
