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StriVectin’s Turnaround Story: Cutting Sku’s, Saks and Focusing on Gen X

StriVectin has pulled back to move forward.
The L Catterton-backed business has been undergoing a turnaround under chief executive officer Joan Malloy since 2016. When she came in, the business was overdistributed, with too many stockkeeping units. And while the previous team had focused on running the brand’s hero ingredient, NIA 114 — a patented form of niacin and Vitamin B3 that is meant to strengthen the skin barrier and help other ingredients perform better — through the product line, the sku count simply got too big.
“The brand at one point was in other categories, like hair. Our strategy was to step away from that — there’s way too much runway for skin,” said Malloy.
“We started to transform the brand from a sales-driven organization to a consumer-marketing-driven organization,” Malloy said. “That’s when the big turnaround began.”
StriVectin hired key executives, including a chief marketing officer and chief digital officer, and a head of international that was stationed abroad (the previous head was based in New York), and started to rein in some of the excess distribution and stockkeeping units.
That meant cutting Saks Fifth Avenue and Bloomingdale’s, Malloy said, as well as the entire hair category — something close to

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Via:: https://wwd.com/beauty-industry-news/skin-care/strivectin-turnaround-cutting-skus-saks-focusing-on-gen-x-1202911484/