Fast fashion can be boiled down to four principle actions: identify a trend, rapidly churn out products to capitalize on that trend, watch consumers gobble those products up and repeat.
Dependent on stores they don’t own, few beauty brands have been able to replicate those actions mastered by the likes of Zara, Topshop, Forever 21 and H&M, and the ones that have attempted them are emerging digitally-focused players. But now Markwins International Corp.-owned Wet ‘n’ Wild is picking up the pace to bring the fast-fashion model to the beauty masses.
After experiencing success with its MegaGlo Highlighting Powder and noticing rainbow highlighters, particularly Bitter Lace Beauty’s Prism highlighter on Etsy, were huge viral hits, the team at Wet ‘n’ Wild got to work on swiftly creating its own multicolored highlighter. In less than four months, the ColorIcon Rainbow Highlighter was finished and, Wednesday of last week, 10,000 units of the $4.99 highlighter were snapped up on the brand’s web site in under an hour. Wet ‘n’ Wild is restocking the highlighters today and anticipates they will be pounced on quickly again.
“Launching products like the MegaGlo and rainbow highlighters is a core part of our positioning to be a key ‘fast beauty’ brand that quickly brings the relevant newness and affordability our consumer is seeking,” said Evelyn Wang, senior vice president of marketing at Markwins. “By launching first in limited channels, we are able to test new product ideas in real life before taking them full distribution.”
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If ColorIcon Rainbow Highlighter continues to sell briskly online, it will enter Wet ‘n’ Wild’s brick-and-mortar distribution. Following a successful run on the web, MegaGlo Highlighting Powder broke into physical stores, and it’s flourished in the retail setting. Wang disclosed MegaGlo has registered a sell-through rate above 90 percent at stores and, in e-commerce, has often sold out within hours of being available.
Elaborating on MegaGlo, she said, “Restocking a limited edition was actually a first for us, but we couldn’t ignore the requests pouring in from our social media platforms. Social media listening is a very important form of marketplace intelligence for us as it provides us with direct feedback from consumers that we can feed into product strategy and innovations.”