NYX Professional Makeup

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NYX Professional Makeup
IndustryCosmetics
Founded1999; 20 years ago (1999)
FounderToni Ko
Headquarters,
United States
Area served
Worldwide
ParentL'Oréal
Websitewww.nyxcosmetics.com

NYX Professional Makeup (/nɪks/) is a 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 own website.[4]

History[edit]

Founder Toni Ko's family moved to the United States from South Korea when she was thirteen. At age 25, she founded NYX Cosmetics in her 600 square foot building in California, using a $250,000 loan from her parents.[5] The first products developed and sold 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 quality" while being sold at "drugstore prices."[1] NYX is often considered a digitally native brand that continuously makes effective use of impactful social media and grassroots marketing tactics to promote their products[7], such as partnering with independent YouTube makeup artists and vloggers.[8]

Sales of NYX products increased during the economic slowdown in 2008, when consumers shopping for cosmetics at prices below those in high-end stores found similar NYX products at mass market outlets such as Sephora. Sales in 2014 were $120 million.[8] Ulta Beauty carries mass market NYX products.[9]

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[10]

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.[11] NYX currently operates standalone stores in Australia, Austria, Belgium, Canada, Estonia, France, Germany, India, Latvia, Lithuania, Spain, the UK, and the USA. In 2016, NYX reported annual sales growth of 4.7 percent and launched NYX Professional Makeup.[12]

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.[13]

Partnerships[edit]

On March 6, 2019, NYX announced their first exclusive cosmetics sponsorship of the 2019 Coachella Valley Music and Arts Festival. 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.[14]

References[edit]

  1. ^ a b c [1] O'Connor, Claire"Banking On Beauty: Tea and Milica Built NYX Cosmetics Into A $500 Million Brand, Forbes, 1 June 2016. Retrieved 28 November 2016
  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 [2] Bhagwandas, Anita, "Everything you need to know about NYX cosmetics (because it's awesome), Marie Claire, 21 April 2016. Retrieved 30 November 2016
  6. ^ [3] Jacques, Renee, "5 Things You Didn't Know About NYX Cosmetics," Allure, 24 February 2016. Retrieved 28 November 2016
  7. ^ cosmeticsdesign.com. "For NYX Professional Makeup, VR is "the new frontier in…beauty"". cosmeticsdesign.com. Retrieved 2019-03-19.
  8. ^ a b [4] Seo-young. Lee, "NYX Cosmetics' Toni Ko, one of Forbes' richest self-made women," The Korea Herald, 15 July 2016. Retrieved 30 November 2016
  9. ^ [5] Holmes, Elizabeth, "A beauty retailer that knows what you want," The Wall Street Journal, 21 June 2016. Calls Nyx " a mass brand from L'Oréal that has expanded its presence over the years at Ulta." Retrieved 30 November 2016
  10. ^ [6] White, Ronald D.,"Toni Ko's next fortune could be made in shades." Los Angeles Times, 17 April 2016. Retrieved 30 November 2016
  11. ^ [7] Directo-Meston, Danielle, "Nyx Cosmetics Is Opening Budget-Friendly Beauty Shops This Fall," Racked, Los Angeles edition, 25 September 2015. Retrieved 30 November 2016
  12. ^ [8] Buckley, Thomas "L'Oréal Shares Surge as Demand Grows for Premium Makeup," The Business of Fashion, 4 November 2016. Retrieved 30 November 2016
  13. ^ Makeup, NYX Professional. "NYX Professional Makeup Launches Educational Masterclass Program". www.prnewswire.com. Retrieved 2019-03-19.
  14. ^ 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]