Young Entrepreneur, CEO and Founder of Australian beauty brand Coverluxesilk shares her top 5 tips for success ahead of International Women’s Day.
Amid Covid-19 lockdowns and limitations on in-salon beauty treatments in 2020, young Sydney-based entrepreneur Sophia Hidalgo identified a gap in the market for luxurious and simple at-home beauty treatments that offer salon quality results. As a result of nationwide shutdowns, Ms Hidalgo saw that there was a demand for at-home hair, eyelash and skincare products and was inspired to launch beauty and self care brand Coverluxesilk to offer simple solutions to beauty consumers. The brand has seen a 193 percent growth in revenue between 2021-2022 and anticipates a further 40 percent YOY increase in revenue throughout the 2022-2023 financial year.
To support its projected growth path, Coverluxesilk is also growing its employee stable to produce a female-led operations base, with over half of its female cohort from a diverse background.
“Ahead of International Women’s Day, I wanted to reflect on my journey with the brand and highlight the tremendous growth we’ve seen over the past few years, it wouldn’t have been possible without my team and all of our hard work. By identifying a niche offering at a key time within the beauty industry, we’ve been able to create a strong brand that continues to grow, that I will forever be proud of. I want to inspire other women to follow their dreams and never give up, anything is possible with determination, innovation, research and dedication to your craft,” said Ms Hidalgo.
With an established beauty brand now under her wing, Ms Hidalgo has shared her top five tips for success in the beauty industry and ecommerce world ahead of International Women’s Day 2023, to help aspiring entrepreneurs and small business owners navigate the ever-competitive world of beauty and ecommerce.
Differentiate your brand.
“With so many beauty brands out there, standing out is essential. Identify what makes your brand unique and make sure that message is clear in your marketing and branding efforts. Whether it’s through innovative product formulations, eco-friendly packaging, or a strong commitment to inclusivity, find ways to differentiate your brand from the competition,” said Ms Hidalgo.
Focus on quality and consistency.
“Consumers expect high-quality products and services from beauty brands. To build a loyal customer base, it’s essential to deliver consistent quality across all aspects of your business, from product formulation to customer service. Make sure that your products are effective and reliable, and that you always strive to exceed customer expectations.”
Build strong relationships.
“Networking and building relationships with industry professionals, influencers, and customers can help you gain visibility and credibility in the beauty industry. Attend industry events, collaborate with influencers, and engage with your customers on social media to build a loyal following and generate buzz around your brand.”
“The beauty industry is constantly evolving, with new products, technologies, and trends emerging all the time. Stay on top of industry news and trends, and be willing to embrace innovation in your product formulations, marketing strategies, and customer engagement efforts. Whether it’s through incorporating sustainable ingredients or leveraging social media to connect with customers, be open to new ideas and strategies that can help your brand stand out.”
Prioritise customer satisfaction.
“Ultimately, success in the beauty industry comes down to satisfying your customers. Make sure that you are listening to customer feedback, addressing their concerns, and providing exceptional customer service. Respond promptly to customer inquiries and complaints, and make sure that your products and services are meeting their needs and expectations. By prioritising customer satisfaction, you can build a loyal following and generate positive word-of-mouth for your brand,” concluded Ms Hidalgo.
Power Retail asked Ms Hidalgo some questions for further insight into the ecommerce side of Coverluxesilk and her challenges with it.
How have you found it keeping up the momentum as people make their way back out to salons?
“Lighten Luxe has been my brand’s best-seller to date, even after Covid and the salons were reopening, my customers were still returning to re-purchase and I believe it’s because it saves them the hassle of making the appointment and spending more money. Using Lighten Luxe over the salon allows them to use their money and time elsewhere on better things, and with the feedback I get, their hair feels better in quality than it was when they went to the salon.”
What are the biggest challenges you’ve had to overcome since starting Coverluxesilk both as a woman in e-commerce and in general?
“As a growing business aiming to scale on a higher spectrum, making decisions in terms of allocating budget towards different marketing strategies and content creation as well as simultaneously maintaining supply chain management can be difficult to balance. However, I overcome these challenges by making calculated decisions and also just simply taking risks. With the overall stress that may come with e-commerce challenges as far as being a woman goes and due to my natural female anatomy/reproductive cycle, I may be more emotional sometimes however, I do use this as a power to persevere and these emotions elevate my passion and allows me to excel in specific tasks in terms of perfecting. Also, I have been working on balancing my hormones as I studied flaxseed and coriander daily during ovulation and the luteal phase can be highly effective in promoting hormonal balance.”
Do you have any advice or commentary on starting an ecommerce business?
“Just start! There will never be a “right time” for anything as life will always have its obstacles. If you don’t have the money to start, I recommend you find a job and really pump it out and save as much as you can for a few months, with those savings you can then start a business. Always try and be involved in the process as much as possible, it’s easy to pay someone to do a task for you, but if you get your hands dirty and just learn along the way, you will be able to replicate these important skills for future projects that you wish to partake in. I saw a quote somewhere that said ‘discipline is the bridge between goals and accomplishment’ which is true, discipline leads to consistency, and when you’re being consistent that’s where you will see movement in your efforts.”
You can find more from Ms Hidalgo and her brand Coverluxesilk here.
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