How Space NK Navigated The Beauty Retail Industry, Championing Niche-Branded Cosmetics

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Luxurious make-up and skincare retailer Space NK has come a good distance since its humble inception within the early Nineties. Launched in 1993 by Nicky Kinnard, the retailer is thought for supporting niche-branded cosmetics. The firm which noticed a lift in gross sales final 12 months had income enhance to 108.9 million kilos. in accordance with a report filed with Corporations Home. 

Chief govt officer and chief service provider Andy Lightfoot credit the corporate as being on the forefront of the wonder retail trade. “We launched Diptyque, Nars, and Drunk Elephant into the U.Okay. and we kind of saved true to that,” mentioned Lightfoot. “We have additionally saved tempo with the adjustments in client behaviors. Ten years in the past you as a buyer of something, whether or not it was clothes, TV, or magnificence, you went right into a retailer and all you had was what that advisor was going to inform you. You would possibly, learn {a magazine}. However there weren’t the web opinions, there weren’t these influences or sources of data. And it’s very modified. Shoppers are coming in and telling us in regards to the newest and latest ingredient. They’re speaking to us about merchandise that they’ve heard about and so they need to perceive. And so actually that is why we’re successful as a result of we’re, we’re listening and reacting in a short time to these prospects. We have additionally received the identical mindset.”

Lightfoot’s aim is to hunt manufacturers that prospects actually need to purchase however uniquely in that area are in considerably constrained demand resembling Drunk Elephant. “That is very a lot our technique going after, these superb manufacturers which you could’t get right here,” mentioned Lightfoot. “After which at all times searching for the following massive factor. We not solely go after the massive US manufacturers. We introduced Kora Organics, which is Miranda Kerr’s area of interest model. Sol De Janeiro is a Brazilian cream. So these manufacturers that we usher in and introduce are very small and so they actually join with our prospects.”

He mentioned that choosing manufacturers for the shop is kind of a rigorous feat. “We are going to come to an entire host of issues and there are simply tons of guidelines,” mentioned Lightfoot. “However there’s lots of intangibles as nicely. It is received to be an amazing product and a related product. The packaging is actually vital. The degree of innovation is vital and the way differentiated it’s, each when it comes to the entire market but in addition our vary. After which it is kind of the place it suits in. So you could possibly have an amazing product that kind of ticks all of the bins and so it may not work. So it is a bit of a transferring goal.”

Lightfoot touted the corporate staff among the many contributing elements of their success. “I feel the important thing factor we do is spend money on our individuals,” mentioned Lightfoot. “Beauty is definitely fairly sophisticated and opaque. That’s made much more complicated than it must be. Our job is to simplify that, to make it very easy to assist and information prospects.”

Lightfoot joined the corporate in 2016 as international digital director to supervise the web site however he noticed different issues on the horizon.

“It was clear to me really from the outset that the biggest opportunities for Space NK were leveraging this unique omnichannel position that we have,” mentioned Lightfoot. “We’re uniquely positioned in a way of getting the shops, the experience, the employees, the coaching, and the web site. All which supplies you the comfort and the attain and the power for individuals to order anytime, anyplace. And up till that time, the 2 chunks can be run totally independently of each other.”

He determined to vary the construction of the enterprise. He disbanded digital groups and retailer groups and adjusted groups to be functionally accountable. “So there was only a advertising and marketing staff,” mentioned Lightfoot. “And every staff owns the shopper journey irrespective of the place that buyer was. So whether or not they have been on-line shopping for on-line, researching in shops, attempting on foundations, or in shops buying, it did not matter that it was a joined-up method of wanting on the buyer and the shopper journey. In order that’s, that is been an enormous focus of mine, a extremely an enormous evolution when it comes to the place we’re, the place we’re taking the corporate. And I feel that joined with the imaginative and prescient that we now have for the corporate, which was a really international magnificence firm and centered on the world’s most in-demand manufacturers.”

Bestsellers fro the corporate embrace Charlotte Tillbury, Hourglass, and Drunk Elephant. “We launched Charlotte Tillbury just lately,” mentioned Lightfoot. “And that is primary in make-up. Hourglass is doing incredible and we launched with Rosie Huntington-Whiteley. It’s a completely lovely model. In skincare. Drunk Elephant is a phenomenon. It truly is an incredible product. Diptyque continues to be an unbelievable model. Certainly one of our greatest sellers and the perfume class, Bibliotheque by Byredo is an absolute favourite of mine. I are inclined to put on that put on daily.”

The UK is the largest marketplace for the corporate however Lightfoot notes that they’re seeing speedy progress in Europe. “We don’t have any stores in Europe but we serve it through our online channels,” mentioned Lightfoot. “The US is rising in a short time. China is rising in a short time, which is our focus territory. However the UK stays the realm with the vast majority of our gross sales.”

The firm is presently in enlargement mode just lately opened eight shops. Future plans embrace opening one other retailer this 12 months and an additional eight shops subsequent 12 months. Lightfoot reviews that the corporate’s channels are performing nicely internationally. “We’re persevering with to spend money on the US and China,” mentioned Lightfoot. “So with enlargement within the US we added 5 shops this 12 months. A few of these in our concession together with Bloomingdale’s. We proceed to develop inside these phrases as nicely. We have now, shop-in-shops inside Nordstrom
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and in China as nicely. It is a barely totally different proposition in China is kind of native manufacturers and much East and types in our shops that, but in addition a key focus for us.”

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