Shani Darden’s eponymous skincare has massive plans for development.
The enterprise obtained a minority funding from VMG Partners in December, and has employed Michelle Shigemasa from Murad as chief government officer. Shigemasa was most just lately with Murad, however earlier than that, she labored at The Estée Lauder Cos. for greater than a decade.
Darden is without doubt one of the most in-demand aestheticians on the West Coast, with a star consumer roster that features Jessica Alba. She gained a cult following for her Retinol Reform product, $88, and raised a seed spherical from BAM Ventures in 2019. At that time, business sources estimated the model would do about $5 million in gross sales for the yr.
These days, the Shani Darden group is concentrated on constructing out the model’s product lineup and deepening relationships with current retail companions, Shigemasa stated. Darden’s line just lately rolled out with Sephora North America, and entered Canadian shops just a few weeks in the past.
Shigemasa stated her objective is to arrange the corporate “for long-term, sustainable growth.”
“The primary reason to partner with someone like a VMG was to really expedite plans and bring that Shani Darden product with that cult following and experience to more consumers,” Shigemasa stated. Growing model consciousness is at the moment her high precedence, she stated.
“The investment allows the brand to pull more levers more quickly, to invest in growth and of course to invest in capabilities and resources,” Shigemasa stated. She stated that the present group is “outstanding,” and that the enterprise might want to make a number of extra hires because it continues rising.
Already, the enterprise has employed Ella Lawrence, a veteran of Urban Decay and Drunk Elephant, as chief advertising officer, and Lauren Barrett, previously of Too Faced and Drunk Elephant, as chief working officer and chief monetary officer. VMG backed Drunk Elephant earlier than promoting it to Shiseido in 2019.
For Shani Darden, Shigemasa and the group will work to construct out the product assortment with easy, efficient skincare merchandise, consistent with Darden’s philosophies.
“It’s her passion for simple yet effective solutions that’s really earned the trust and loyalty of her clients,” Shigemasa stated. “We have obvious plans to expand products, but the philosophy will stay the same.”
Darden’s retinol merchandise have had a cult following for years, however she’s additionally seen success along with her Intensive Renewal Eye Cream, $68, and Facial Sculpting Wand, $399, Shigemasa stated. The model plans to extend launch cadence, from one to 2 new merchandise per yr, to 3 to 4 merchandise per yr. Devices are additionally possible on the roadmap, given the success of the wand, she famous.
Industry sources stated the model is prone to double gross sales year-over-year, to round $20 million at retail.
For extra from WWD.com, see: