Beauty Sales: $4 billion
Key Personnel: Richard R. Rogers, executive chairman; David Holl, president and chief executive officer; Sheryl Adkins-Green, chief marketing officer; Thomas S. Cho, chief supply chain officer; KK Chua, president, Asia Pacific; Tara Eustace, president, Europe; Darrell Overcash, president, North America; Jose Smeke, president, Latin America.
Major Products: Skin care, color cosmetics, body care, sun care and fine fragrances marketed under the Mary Kay and TimeWise brand names.
New Products: Cityscape eau de Parfum, TimeWise Microdermabrasion Plus Set, Mary Kay Velvet Lip Crème, Mary Kay Limited Edition Nail Lacquer.
Comments: Avon may have something to learn from its “pretty in pink” U.S. competitor. In 2014, 50-year-old, privately held Mary Kay Inc., achieved another year of double-digit gains, and hit the $4 billion dollar mark, garnered through direct sales. The company boasts 3.5 million representatives around the world—and keeps them on board with new offerings, an award-winning website and products that appeal to consumers from tweens to baby boomers. Products are available in more than 35 markets.
The company also enjoyed a record-breaking year in 2013 when it reported $3.5 billion in annual sales.
News of Note
In March, Mary Kay expanded its Latin American operations, opening in Bogota, Colombia.
In June, The Direct Selling Association named Michael Lunceford, senior vice president of public affairs for Mary Kay Inc., as the 2015 inductee into the Direct Selling Association Hall of Fame at its annual conference in San Antonio, TX.
In July of this year, the company started to explore a domestic facility expansion plan. They appointed CBRE, the world’s largest commercial real estate services and investment firm, to explore future options for the company’s global manufacturing and R&D facility located in Dallas. The analysis will be crucial as Mary Kay Inc. considers whether to update its existing operation or build a new facility to house both manufacturing and R&D.
“Approximately 75 percent of our business is overseas today and yet more than 50 percent of Mary Kay products produced at the Dallas manufacturing facility are exported to our international markets,” said David Holl, president and chief executive officer. He added: “Whether we update our current Regal Row facility or explore options to build a new one, our investment could range from $80 to $100 million.”
Always engaged in social programs that benefit women and children, through The Mary Kay Foundation, the direct seller ran a special program in the U.S., from May 16 through August 15, 2015, in which they donated $1 from each sale of the limited-edition Beauty That Counts NouriShine Plus Lip Gloss in two new shades, Create Change and In Harmony.