NYX Professional Makeup

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NYX Professional Makeup
IndustryCosmetics
Founded1999; 21 years ago (1999)
FounderToni Ko
Headquarters,
U.S.2016 Switzerland (ZUG)
Area served
Worldwide
ParentL'Oréal
Websitewww.nyxcosmetics.com

NYX Professional Makeup (/nɪks/) is an American cosmetics company that is a subsidiary of L'Oréal. The company was founded in Los Angeles by Toni Ko in 1999. It was named after Nyx, the Greek goddess of the night.[1] NYX Professional Makeup is certified and acknowledged by PETA as a cruelty-free brand,[2] and they offer a wide range of vegan-friendly products.[3] NYX products are sold in over 70 countries at thousands of retailers, ranging from specialty beauty and fashion stores to freestanding shops and the brand's corporate website.[4]

History[edit]

Toni Ko founded NYX Cosmetics when she was 25 using a $250,000 loan from her parents.[5] The company's first products were jumbo eye pencils,[6] which brought in revenue of $2 million within the first year.[5] The products were initially sold only to beauty professionals before Ko expanded sale to mass-market outlets.[5] The products were marketed as having "department store beauty" while being sold at "drugstore prices."[1]

Sales in 2014 were $120 million.[7] Ulta Beauty carries mass market NYX products.[8]

L'Oréal Acquisition[edit]

In 2014, Ko sold NYX to the international beauty company L'Oréal for $500 million.[1] The sale had a five-year non-compete clause.[9]

NYX Cosmetics continues under other management as a part of L'Oréal, and now provides products including lipstick, lip gloss, and mineral foundation.[5] In September 2015, L'Oréal introduced brick-and-mortar stores devoted to NYX cosmetics.[10] NYX currently operates standalone stores in Australia, Austria, Armenia, Belgium, Canada, Croatia, Estonia, France, Germany, India, Latvia, Lithuania, Romania, Serbia, Spain, the UK, and the USA. In 2016, NYX reported annual sales growth of 4.7 percent and launched NYX Professional Makeup.[11]

Masterclass Program[edit]

In September 2018, NYX launched Masterclass, an exclusive online educational content library featuring a group of professional makeup artists and top beauty vloggers. The program aims to provide consumers of all skill sets with accessible, professional-grade makeup education.[12]

Partnerships[edit]

On March 6, 2019, NYX announced their first exclusive cosmetics sponsorship of the 2019 Coachella Valley Music and Arts Festival.[13] The partnership will provide guests access to innovative digital beauty experiences on the festival grounds, ranging from an interactive beauty bar and touch up area fully equipped with glitter makeup and a glitter fountain, to a massive lip and tongue slide.[13]

References[edit]

  1. ^ a b c O'Connor, Claire (2016-06-01). "Banking On Beauty: Tea and Milica Built NYX Cosmetics Into A $500 Million Brand". Forbes. Retrieved 2016-11-28.
  2. ^ "FAQs | NYX Professional Makeup". www.nyxcosmetics.com. Retrieved 2019-03-19.
  3. ^ "Vegan Formula | NYX Professional Makeup". www.nyxcosmetics.com. Retrieved 2019-03-19.
  4. ^ "NYX Professional MakeUp - L'Oréal Group". www.loreal.com. Retrieved 2019-03-28.
  5. ^ a b c d Bhagw, Anita (2016-04-21). "You need to know about NYX cosmetics, stat!". Marie Claire. Retrieved 2019-12-05.
  6. ^ Jacques, Renee (2016-02-24). "5 Things You Didn't Know About NYX Cosmetics". Allure. Retrieved 2016-11-28.
  7. ^ Seo-young, Lee (2016-07-15). "NYX Cosmetics' Toni Ko, one of Forbes' richest self-made women". The Korea Herald. Retrieved 2016-11-30.
  8. ^ Holmes, Elizabeth (2016-06-21). "A beauty retailer that knows what you want". The Wall Street Journal. Retrieved 30 November 2016.
  9. ^ White, Ronald (2016-04-17). "Toni Ko's next fortune could be made in shades". Los Angeles Times. Retrieved 2016-11-30.
  10. ^ Directo-Meston, Danielle (2015-09-25). "Nyx Cosmetics Is Opening Budget-Friendly Beauty Shops This Fall". Vox Media. Retrieved 2016-11-30.
  11. ^ Buckley, Thomas (2016-11-04). "L'Oréal Shares Surge as Demand Grows for Premium Makeup". The Business of Fashion. Retrieved 2016-11-30.
  12. ^ Makeup, NYX Professional. "NYX Professional Makeup Launches Educational Masterclass Program". www.prnewswire.com. Retrieved 2019-03-19.
  13. ^ a b Zimmerman, Kelsi. "One Of Your Fave Makeup Brands Will Be Bringing The Glow To Coachella This Year". Elite Daily. Retrieved 2019-03-19.

External links[edit]