The emergence of Kiko, NYX and Essence created a buzz about value-brand cosmetics. That’s awakened Palladio Beauty Group, a brand that’s been around longer than any of the others.
Palladio, which has quietly expanded in the salon and specialty market, has a new president who believes it is time to capitalize on the brand’s domestic distribution and huge international potential. Tom Winarick, who assumed the role of president six months ago, has already modernized and tweaked the branding, expanded the makeup line, introduced new imagery and boosted distribution, especially into international markets.
Winarick is a longtime industry veteran, best known for expanding distribution of the Prestige beauty brand, while also helping other companies grow internationally as a consultant.
Palladio executives would not comment, but industry sources said Palladio is building off an already solid $40 million to $45 million base in retail sales.
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“It’s been a whirlwind. There’s so much potential for this brand,” Winarick said of Palladio. Palladio is known in the professional beauty world for its color cosmetics with skin-care benefits. Palladio is carried at Sally Beauty and Ulta locations and in more than 2,500 domestic professional beauty-supply retailers.
U.S. salons and stores such as Ulta are looking for fresh lines to wrest shoppers from traditional beauty channels. “In general, I think that coming out of [the economic] crisis, shoppers and retailers have understood the value of value brands,” Winarick said.
There’s even more opportunity internationally, Winarick said, because value is a new and growing concept abroad. “With the value color segment exploding globally, we have recently restructured and bolstered our international sales team to engage the opportunity,” he said. The strategy involves a strong focus on Europe, where the company just hired a general manager, as well as Asia, where there’s dedicated coverage, plus more emphasis on existing distribution in Latin America and the Middle East. International merchants are also keen on U.S. manufacturer’s goods and Palladio is 97 percent produced on North American soil, Winarick said.
Philip Solomon, the chief executive officer of Palladio, agreed the company is geared up for its next step. “We are extremely excited at the prospect of achieving significant growth in 2015. The opportunity is certainly there and with this whole new level of activity for the brand, we are poised to embrace the growth”, he said.
To stay current, Palladio has 90 new stockkeeping units, including a focus on eye such as new matte eye shadows in 10 combos retailing for $7 and new Line Out Loud Intense Shimmer Liquid Liners in six colors, also $7, and Lash Obsessed Mascara priced at $10 with a brush featuring a hairbrush technology to lengthen and volumize lashes. Seeing a boom in contouring, Palladio is simplifying the trend with The Definer Contour + Highlight Crayon ($8), a dual-ended shaping and defining crayon in a universal shade that contours any face shape. Launches during the second half of the year will be dedicated to lip innovations, Winarick said.
Along with a sleeker version of the logo, part of the relaunch includes tweaking the tag line from touting the original “herbal and vitamin enriched” to the more modern “botanical and vitamin infused” description.
There’s also a push to add more education on the packaging and the point of purchase materials now feature instructional and before-and-after looks. Although the line is known for its colors and performance, its beneficial ingredients continue to play a vital role in the brand’s unique positioning, noted Winarick.