Rainbow Cosmetics, the UK-based family-run cosmetics company, has set itself a £10m sales target for its own-brand division.
With brands including Sunkissed, Style & Grace and Tilly, the company has already made a strong impression on the global market and was recently awarded The Queen’s Award for Enterprise: International Trade 2017 – an honour that recognises companies that have achieved significant growth over a three year period.
Over the last five years, Rainbow Cosmetics’ own-brand division has grown by 52%, with its export sales growing 141% from 2013 to 2015, now present in 39 countries.
New market focus
We set about coming up with a targeted plan of how we were going to increase sales. We focused on individual markets and went for what we perceive to be quick wins.
Speaking to Cosmetics Business, Managing Director Stephen Sharman, explained that the accolade – which took the company 100 man hours to apply for – will stand it in good stead to continue expanding its export business because it is recognised internationally.
“The next part of the business strategy is that by 2020 we want to be at £10m for our own-brands of which £5m will be in export sales.
“The target for the next three years is also to have bigger distribution in Australia and
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