They the new celebrity fragrances said Lucie Greene founder and chief executive officer at consultancy Light Years of the crowded celebrity skin care market.The past year alone has seen numerous launches with the latest offering coming from Kim Kardashian. At a pricey $630 Skkn by Kim is a direct to consumer nine step system including a toner exfoliator hyaluronic acid serum vitamin C8 serum face cream eye cream drops and a night oil that will launch on June 21.The reality star joins a long list of celebrities like sister Kylie Jenner Rihanna Jennifer Lopez Alicia Keys Jessica Alba Cindy Crawford Kerr Scarlett Johansson Pharrell Williams and others who have also parlayed robust followings into skin care businesses.
And more are in the pipeline with Hailey Biebers Rhode set to launch this summer at a much lower price point than Kardashians with all products priced below $30. Its not only crowded but its competitive said Jefferies analyst Steph Wissink. There are hundreds of brands in skin care and the category is increasingly globalizing meaning regional leaders are needing to expand their competitive scope to take in cues from international brands not historically accessible to regional consumers. Layer in celebrity brands and what typically happens is the industry share starts to fracture as consumers experiment with more product from more brands.
Unlike other disruptive brands in skin care that have to spend on awareness Wissink said celebrity brands come to the market with an embedded following and therefore have heightened performance expectations from the start although she cautioned that this does not necessarily imply an ease of success. Tribe Dynamics which tracks the top brands garnering earned media value found that celebrity skin brands tend to have very splashy debuts but may taper out more quickly than other skin care brands.Keys Soulcare collected $3.8 million EMV from January to April 2022 a 23 percent year over year growth. The brand earned mentions from 741 content creators a 56 percent year over year surge while its 1,900 posts represented a 21 percent year year spike.
EMV assigns a unique value to a piece of content based on engagement that this content receives from users likes comments shares views as well as the platform that this content was published on Instagram YouTube TikTok etc and attributes that value to brands mentioned in this content.Humanrace which Williams launched in partnership with dermatologist Dr. Elena Jones pulled in $1.4 million EMV from January to April 2022 an 87 percent year over year increase. Tribe found that while the brands community size and post count both declined the brands potency the amount of EMV generated per creator more than doubled meaning that Humanrace has identified a very passionate user base.