sees online cosmetic sales rocket

By Simon Pitman

- Last updated on GMT

Related tags: Cent increase, Cosmetics

US-based Online beauty and cosmetics retailer, Makeup .com, has
reported a 108 per cent increase in its sales during the last six
months of 2006, cashing in on the increasing number of consumers
buying their beauty products through the internet.

The company reported that both its traffic to the site and the number of orders taken had increased tremendously during the course period, with a 64 per cent increase in the number of orders resulting driving the sales increase, compared to the same period last year. Until last year the company was still in the early stages of development, with its principle business remaining a custom embroidery service through the internet. However, the embroidery business was sold last July and in October the company bought up 100 per cent of the issued and common stock in the online makeup business for $1 from Manhattan Assets Corp, giving it total control of the business. The deal also meant that took on $1m in debts for the business. Now owned by Nevada-based Makeup Incorporated, also reported that sales continued to grow strongly during the first two months of 2007, breaking the traditional trend for slowing sales during this period. With traffic continuing to be strong, the company believes that its sales for this period will compare favorably with the figures for November and December, traditionally the strongest sales period because of the holiday season. The positive news in the company's performance follows the recent resignation of its director, Ralph Biggar, back in November 2006, He was replaced by Robert Rook and the company subsequently changed its name from Tora Technologies to, in line with the name of the website. The website carries a range of premium mass market brands, including Estee Lauder and Lancome, together with a number of boutique brands, including Paula Dorf Cosmetics and Lola Cosmetics. T he cosmetics industry is currently experienced significant growth, boosted in particular by interest in natural-based products, anti-aging treatments and men's grooming, which is all contributing to a 3.7 per cent annual growth in a global industry that should be valued at $300bn by 2010. In line with this the internet is also experiencing significant growth as consumers grow increasingly confident about making purchased of beauty products using this retail medium. Currently analysts estimate that the online personal care estimates are more than $210m, and growing at approximately 30 per cent each year.

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