During Covid lockdowns and limitations on in-salon beauty treatments, Sydney-based entrepreneur, Sophia Hidalgo identified a gap in the market for luxurious and simple at-home beauty treatments that offer salon quality results.
Hidalgo recognised demand for at-home hair, eyelash and skincare products, inspiring her to launch beauty and self-care brand, Coverluxesilk. The brand experienced 193% growth in revenue between 2021 and 2022 and anticipates a further 40% year-on-year increase in revenue this financial year.
To support its projected growth, Coverluxesilk is strengthening its team to produce a female-led operations base, with over half of its female cohort from a diverse background.
To coincide with International Women’s Day, Hidalgo has reflected on her journey and the brand’s tremendous growth, which she says wouldn’t have been possible without her team’s hard work.
“By identifying a niche offering at a key time within the beauty industry, we’ve been able to create a strong brand that continues to grow. I want to inspire other women to follow their dreams and never give up – anything is possible with determination, innovation, research and dedication to your craft,” she said.
Hidalgo has shared her top five tips for success in the beauty industry to help aspiring entrepreneurs and small business owners.
- Differentiate your brand
“With so many beauty brands out there, standing out is essential. Identify what makes your brand unique and make sure that message is clear in your marketing and branding efforts. Whether it’s through innovative product formulations, eco-friendly packaging, or a strong commitment to inclusivity, find ways to differentiate your brand from the competition.”
- Focus on quality and consistency
“Consumers expect high-quality products and services from beauty brands. To build a loyal customer base, it’s essential to deliver consistent quality across all aspects of your business, from product formulation to customer service. Make sure that your products are effective and reliable, and that you always strive to exceed customer expectations.”
- Build strong relationships
“Networking and building relationships with industry professionals, influencers, and customers can help you gain visibility and credibility in the beauty industry. Attend industry events, collaborate with influencers, and engage with your customers on social media to build a loyal following and generate buzz around your brand.”
- Embrace innovation
“The beauty industry is constantly evolving, with new products, technologies, and trends. Stay on top of industry news and be willing to embrace innovation in your product formulations, marketing strategies, and customer engagement efforts. Whether it’s through incorporating sustainable ingredients or leveraging social media to connect with customers, be open to new ideas and strategies.”
- Prioritise customer satisfaction
“Ultimately, success comes down to satisfying your customers. Make sure that you are listening to customer feedback, addressing their concerns, and providing exceptional customer service. Respond promptly to customer inquiries and complaints, and make sure that your products and services are meeting their needs and expectations. By prioritising customer satisfaction, you can build a loyal following and generate positive word-of-mouth.”