A new cosmetics brand has its sights set on untapped markets — and untapped channels. Siia Cosmetics, which launched direct-to-consumer earlier this summer, has ambitions to bring prestige color cosmetics into independent beauty supply stores, a channel often overlooked by prestige beauty.
The brand’s initial offerings range from a lipstick, a mascara, eyebrow pencils, eyeliners, concealers, contour sticks, lip glosses, primers and setting sprays. Prices range from $16 to $28. Sales are said to reach $7 million at wholesale in its first year on the market, and more than $30 million in its first three.
The brand’s cofounders came upon the white space while manufacturing wigs and hair extensions. “It’s actually a multimillion-dollar market that isn’t thought of by or front of mind for most of the beauty industry,” said Megan Rein, cofounder. “It’s the segment with the highest-spending consumer base in the world of personal care and beauty, so it’s an incredibly important market from a business standpoint.”
