Cult US cosmeceutical skin-care brand Perricone MD is expanding into the international market, including travel retail. Perricone was acquired by British private equity fund Lion Capital in May 2014, and brought in experienced beauty expert Virginie Descamps to develop its international business.
Recognized for its cutting-edge innovation in the category of science based skincare, Perricone has a product line comprising powerful anti-aging topicals and supplements underpinned by a library of over 90-patented ingredients and formulas based on decades of research.
Headquartered in San Francisco, CA, Perricone MD generated sales of $86 million in 2014, according to the Lion Capital website.
In an exclusive interview in Miami, Descamps, Perricone MD Vice President, International, talks to TMI about why the time is right for Perricone to expand into travel retail now.
“Perricone is a leading brand in Sephora and in QVC, and we reach millions of people. The success of Dr. Perricone in the US has been replicated in the UK. So for me it is natural that we be in travel retail in the Americas where we have such great awareness and where Americans drive so much of the business. This is a natural step for the brand.
“At the same time we are in Brazil and Mexico with Sephora and have been in Chile for 10 years. In Puerto Rico, Perricone has main channel presence and is in department stores and spas as well as in doctor’s offices because we are a cosmeceutical brand,” says Descamps.
Because of this exposure, Perricone MD has been organically growing – even without the media support that the big brands can afford.
“We have a very loyal and growing base of customers, which is the number one reason why we are now targeting travel retail.”
Descamps said the brand is looking at travel retail in Asia, the Americas, and the UK.
“These will be the first steps to other markets,” she notes.
“We are building on our consumer strength. We have a very strong business in the US, Puerto Rico, Mexico, Brazil and Chile. We have been in Australia for the last 12 years also. I want to reach this consumer and be with retailers who serve this customer,” she says.
Although Perricone has been in some travel retail venues from time to time over the years, this is the first time it is getting a coordinated, overall exposure. The only travel retail venue it is currently in now is on British Airways with Tourvest. Perricone is very interested in the airline business, says Descamps.
“So many people are watching the infomercials on the QVC programs in the US, the UK, Germany and Italy. QVC is an amazing vehicle to build awareness and bring your brand to a lot of shoppers. The sales numbers are astronomical. Perricone is the number 2 skincare brand on QVC.
“I ask myself where are all these Perricone users shopping? I want to give them another opportunity to buy the brand when they travel. And I want to give them exclusives.”
To this end, Perricone has begun to develop some travel retail exclusive sets. The first one comes out on September 15, says Descamps.
“Between the Sephora business and QVC, we have millions of users in these markets. Many of these users buy on subscription, and they keep coming back because they love the results.”
Perricone is looking to gather new users from the exciting new collection it launched in London on June 19. Called No Makeup Skincare, it combines Dr. Perricone’s anti-aging skincare technology with makeup. The 8-SKU collection (in the US) is designed to restore the healthy, radiant color of youth lost with age, with breakthrough formulations that feature Perricone’s Neuropeptides and other ingredients. The No Makeup Skincare line includes foundation, foundation serum, a bronzer, blush, mascara, concealer, lipgloss and lipstick, priced domestically from $30-$50 on the Perricone website.