How Covid-19 Catapulted The Rise Of DTC Beauty Brands
23 May 2022Direct-to-consumer (DTC) cosmetic brands were already big news before Covid-19 hit. For example, in March 2019, Forbes declared 21-year old Kylie Jenner the world’s “youngest self-made billionaire,” mainly based on the value of her company, Kylie Cosmetics. In 2020, global management consulting firm McKinsey reported that before Covid-19, “in-store shopping comprised up to 85 percent of all beauty product purchases.” However, in the aftermath of the pandemic, nearly 30 percent of the beauty-industry market was shut down—this created space for the growth of DTC consumer brands. The supply chain is growing year on year.
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