With a £180m valuation, the cosmetic brand founded by Trinny Woodall is one of Europe’s fastest-growing direct-to-consumer start-ups. Sales have more than tripled to £44m in the year to March 2021 and the brand has now achieved more than £100m in revenues since it launched. It is growing quickly and has gross margins of 60-65%.
Next month, it will launch a range of new products for hair care and skincare, clothes, lingerie and handbags; and a physical store is rumoured. Last month, the company also hired a new lifecycle marketing manager.
Prices of cosmetics and skincare products have risen by 9.6% in the 12 weeks to Boxing Day compared with the same period a year earlier, and customer behaviour has been changing as a result. Shoppers are increasingly choosing mid-range brands which can be 60% cheaper than the upmarket options. As consumers begin to socialise more and return to offices sales of cosmetics and skincare products will start to increase. And we will most likely see Trinny London increase its marketing activities and its media spend.