Beauty is booming. In 2017, the global market was valued at $532.43 billion, and with a compound annual growth rate of more than 7%, it is expected to be worth $805.61 billion by 2023.
While the global market is still dominated by companies like L'Oréal and Unilever, there are thousands of Indie beauty brands that are rapidly emerging and in need of top talent to grow. These younger emerging brands are seeking creative, innovative, entrepreneurial candidates who can work cross-functionally.
Because the beauty industry is currently defined by a candidate-driven job market, job seekers should know their competition. Candidates should be prepared to show prospective employers, particularly emerging brands, how and where they can add value that will scale the company.
Candidates who have a proven track record of what they've accomplished in prior roles are also particularly appealing to growing beauty brands. Any candidate who can offer solutions that will elevate a brand to the next level will be better positioned to stand out from the competition.
On top of having these experiences and ambitions, candidates should possess a passion for the industry and a general knowledge of how the beauty industry is changing and evolving. Those with digital and sales skills will prove to be valuable in today’s beauty market as there has been an increase in demand among companies to fill marketing, brand marketing, and direct-to-consumer roles.
Executive-level professionals at some of the larger beauty companies are eager to pursue opportunities at startups to feel more directly connected to their successes and achievements. Working at a young, fast growth company takes a collaborative and ambitious spirit, especially those that are growing rapidly, like Vital Proteins, Kopari Beauty, and Supergoop!, to name a few.
Entrepreneurial executives who are willing and able to roll up their sleeves and take on several roles simultaneously tend to flourish in the startup environment. The increased demand to fill tech and digital roles reflects beauty's digital makeover as more brands and retailers look to technologies like artificial intelligence (AI) and augmented reality (AR) to give customers a more personalized experience online. As a result, the beauty industry is attracting candidates with backgrounds in technology from across industries to pursue roles in the thriving beauty-tech sector.
ABOUT THE AUTHOR
Josh Wand is founder and CEO of ForceBrands, a specialized recruiting firm for the consumer products industry.