AMERICA’S RICHEST SELF-MADE WOMEN: THE BEAUTY EDIT

AMERICA’S RICHEST SELF-MADE WOMEN: THE BEAUTY EDIT

Recently, Forbes published their annual ‘America’s Richest Self-Made Women’ list. This is the publication’s 4th edition and is a ranking of the most successful women entrepreneurs in America. The 60 women selected recorded a combined net worth of $71 billion, up 15% from $61.5 billion in 2017. The list recognises women who have shattered ceilings and scaled new heights in a wide variety of disciplines, from genetic testing to slimming shapewear & cosmetics. The minimum net worth needed to make this year’s list is $320 million, up from $260 million last year.

I’m sure a lot of you have heard about this list, particularly the fact that Kylie Jenner was on the list as the youngest of the lot, but did you know there were 5 other beauty entrepreneurs as well. I wanted to highlight this fact and also encourage every other beauty entrepreneur out there to keep pushing and some day you too will be shattering ceilings and defying the norm! Here’s a list of all the beauty entreprenuers, their rankings and the brands they own:

 

KATHY FIELDS – RANKING #13- NETWORTH $1.5BILLION

  • Dermatologist Kathy Fields and her business partner Katie Rodan have created two successful skincare brands: Proactiv Solutions and Rodan + Fields.
  • In May 2018, private equity firm TPG spent $1 billion to buy a 25% stake in Rodan + Fields.
  • Rodan + Fields borrowed $600 million in junk bonds in June 2018 and used it to pay the founders a dividend.
  • Revenues of Rodan + Fields grew 50% in 2017 to $1.5 billion; the direct marketing firm conducts sales through some 200,000 ‘consultants.’
  • In 2016, the two dermatologists sold their Proactiv royalties to a joint venture between Guthy Renker and Nestle, which markets the product.

KATHIE RODAN – RANKING #13 – NETWORTH $1.5BILLION

 

  • Dermatologist Rodan co-created acne treatment Proactiv and launched skin-care company Rodan + Fields with longtime business partner Kathy Fields.
  • In May 2018, private equity firm TPG spent $1 billion to buy a 25% stake in Rodan + Fields.
  • Rodan + Fields borrowed $600 million in junk bonds in June 2018 and used it to pay the founders a dividend.
  • Revenues of Rodan + Fields grew 50% in 2017 to $1.5 billion; the direct marketing firm conducts sales through more than 200,000 ‘consultants.’
  • In 2016, the two dermatologists sold their Proactiv royalties to a joint venture between Guthy Renker and Nestle, which markets the product.

ANASTASIA SOARE – RANKING #21 – NETWORTH $1BILLION

 

  • Make-up mogul Anastasia Soare has made a fortune applying the golden ratio–used by the ancient Greeks and Leonardo da Vinci–to eyebrows.
  • Born in Romania, she immigrated to Los Angeles in 1989 and got a job in a beauty salon.
  • Three years later, she struck out on her own, and in 2000, she launched a line of eyebrow products under the name Anastasia Beverly Hills.
  • Sales took off after her daughter Claudia, who is the company’s president, began promoting the brand on Instagram.
  • The company now sells more than 480 products in over 3,000 stores; revenues are estimated at more than $200 million.

KYLIE JENNER – RANKING #27 – NETWORTH $900M

 

  • The most junior member of the Kardashian-Jenner clan is also its richest thanks to her fast-growing makeup brand Kylie Cosmetics.
  • Famous for its $29 lip liner and lipstick “lip kits,” Kylie Cosmetics has since expanded into eyeshadow, highlighter, eyeliner and more.
  • Its limited edition product “drops” create giant flash sales, as in November 2016 when her holiday collection snagged nearly $19 million in 24 hours.
  • Kylie Cosmetics has sold more than $630 million worth of makeup since its founding in February 2016.
    Jenner owns 100% of the company

 

HUDA KATTAN – RANKING #37 – $550M

 

  • Miserable in her finance job, Kattan quit to become a makeup artist and then launched a blog in 2010. It is now the Internet’s most-read beauty blog.
  • Kattan started Huda Beauty with her two sisters in 2013 when she couldn’t find false eyelashes to buy.<br>
  • Today, Huda Beauty sells more than 140 products from eyeshadow pallets to lip gloss, which bring in at least $200 million in annual sales.
  • Private equity firm TSG Consumer Partners acquired a small minority stake at the end of 2017. It is now valued at more than $1 billion.
  • An influencer who claims to having never spent money on advertising, Kattan now has about 26 million Instagram followers.

 

JAMIE KERN LIMA – RANKING #44 – NETWORTH $440M

 

  • Jamie Kern Lima sold her problem-solving make-up line of 300 products to L’Oreal for $1.2 billion in cash.
  • Kern Lima pocketed roughly $410 million and is staying as CEO of IT Cosmetics, making her the first female CEO in L’Oreal’s 108-year-history.
  • The former morning news anchor started testing makeup to help cover up her rosacea, a hereditary skin condition that causes blotchy, red skin.
  • Her husband Paulo Lima, who she met in a statistics class at Columbia Business School, is cofounder and runs much of the daily operations.
  • Since cashing out in 2016, Kern Lima has invested some proceeds in 12 women-led businesses.

To read about all 60 women featured visit forbes.com for the full article.

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