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Diving summary:
Joining other retailers in the search for up-and-coming beauty brands, Walmart has selected five beauty startups to participate in the first cohort of Walmart Start, a beauty accelerator program that gives participating brands the opportunity to launch their products at Walmart. , according to an emailed announcement to Retail Dive.
The brands of the first class of Walmart Start participating companies are: Dossier perfume brand, Undefined Beauty skin care and wellness company, PaintLab nail brand, Pardon My Fro hair care brand and The Hair Lab By Strands personalized hair care product.
Hair Lab plans to launch its hair analysis technology in Walmart stores, and Pardon My Fro will introduce its first line of beauty products exclusively with Walmart, according to the company’s website.
Diving information:
In February, Walmart Announced Walmart Start Accelerator Program and searched for trademark applications seeking to participate between mid-February and early March. At the time, the retailer said that he wanted the brands within his first cohort to launch online and in-store between December 2022 and March 2023.
On its website, the retailer said it wanted brands with high growth potential, the ability to scale by 1,000 or more stores, and the ability to captivate customers with its brand or product. As part of the accelerator program, participating businesses receive one-on-one sessions with a brand management consultant, a virtual class series, an expert speaker series, Walmart Connect support, inclusion in Walmart marketing campaigns, and one-on-one sessions. with a trading mentor, according to Walmart website. The retailer also said on its site that it seeks hair, skin, cosmetics, nail, fragrance and beauty accessory brands for the show, but that it would only accept brands that are not currently or have not previously been featured on the show. stores.
“Walmart Start is focused on finding the next big names in beauty,” the company said. “Each founder was motivated to start their brand and business to fill a gap in the market, whether it be in innovations or affordability, which aligns with Walmart Beauty’s strategy and resonates with the Walmart customer.”
With the launch of Walmart Start, the retail giant is following in the footsteps of other major retailers and beauty retailers in pursuing emerging beauty brands. In August 2020, Sally Beauty partnered with CosmoProf to lead the second iteration of Cultivate, a beauty accelerator that supports women-owned brands. In June, Ulta Beauty began accepting applications for its muses accelerator, which caters to BIPOC beauty brands. Meanwhile, in March, Target held the sixth cohort of their Target Takeoff programwhich also provides tutoring and a personalized curriculum for beauty brands.
Source: www.retaildive.com