The Finer ThingsA line of high-priced, ultraluxury cosmetics is making heads turn--and wallets open.
BySara Wilson•
Opinions expressed by Entrepreneur contributors are their own.
Mascara for $589. A tube of lipstick for $150. Those prices may seem outrageous, but Taysha Smith Valez has proved they're priced to sell. A week after the July 2006 launch of her line of ultraluxury cosmetics, The Socialite Collection, she had already sold 1,700 mascaras, and by October, sales had hit $15 million.
Born wealthy, Smith Valez, 25, knows what's important to existing and aspiring ultraluxury consumers. Her cosmetics are adorned with thousands of hand-placed Swarovski crystals, and she provides one year of concierge service with purchase. "I come from a background where you have friends whose parents make $150 million a year," says Smith Valez. "It's not about how much [it costs]. It's about 'I need the service. Make it make sense.'" She has since launched nine additional beauty lines that fall under the umbrella of her New York City company,H. Couture Beauty, with overall sales expected to exceed $40 million this year.
Continue reading this article — and all of our other premium content with Entrepreneur+
Join the internet’s leading entrepreneur community! With your subscription you’ll get:
- Unlimited access, including premium content
- No ads
- Subscription to狗万官方magazine
- Four free e-books a year
- Subscriber-only events with our experts