Call it the argan effect. After the incredible success of the hair care line Moroccanoil, oils are beauty’s buzziest new format. Whether for hair, skin, face or sun, myriad brands have superslick launches on the docket for the summer. And no wonder — while still small, sales are booming in the prestige category. “Overall, every oil format has grown,” says Karen Grant of the NPD Group. “In U.S. prestige beauty, sales of argan oil have experienced double-digit growth each year since 2008, rising an additional 28 percent in 2011. Since 2008, argan oil sales have increased by 63 percent, to amount to estimated sales of $20 million in 2011.” While argan’s popularity shows no signs of waning, the new oils are derived from a variety of sources — kukui nut, olive, jojoba, macadamia nut, sweet almond, coconut, grapeseed — with an equally wide range of effects. “Companies are looking to develop their own niche in the market,” says Donna Barson of the Kline Group. “There’s definitely an oil boom out there with a multitude of types. But argan is taking first place.”
This story first appeared in the June 15, 2012 issue of WWD. Subscribe Today.