Independent vegan hair dye player set for US expansion
My. Haircare is a UK based brand that has developed a range of temporary hair dyes that boast 100% vegan claims.
The company has secured funding on the UK television Dragon’s Den programme, which sees entrepreneurs pitch their businesses in the hope of gaining the financial backing an expertise of a panel of investors.
Currently available throughout the UK, EU, within Sephora of South East Asia, and Australia, the founders say their ambition is to expand the range now into the US.
“Our main plan for brand development and expansion is into the USA market,” confirms Denis Kovalyov, co founder of My. Haircare.
Securing funding
Rob Forgione & Denis Kovalyov, the company’s founders, secured success on the television programme Dragon’s Den on BBC1 recently, suggesting investors see the potential in vegan beauty.
The ‘Infuse my colour shampoo’ claims include 100% Peta Certified Vegan, Silicone, Paraben and Sulfate free, with a bio polymer that delivers the vegan pigment along with conditioning properties.
Spotlight: vegan products in demand
Vegan products are certainly meeting with strong demand: they account for some 7% of new beauty and personal care product launches globally, according to latest data from market research provider Mintel.
Michelle Strutton, Content Manager for the firm’s Global New Products Data Base – a division of the market research company that tracks consumer product launches worldwide on a day-to-day basis - explained the trend in a recent interview with Cosmetics Design.
“Consumers are not only embracing vegan diets, but are also looking for vegan alternatives in all aspects of their lives,” Strutton said.
“More brands are targeting the 'natural' consumers who want products they use on their bodies to be as 'better-for-you' as the food they eat.”
The market analyst reckons vegan claims are here to stay, not just a fad, as they appeal to a broad range of consumers.
“Vegan beauty products sit alongside organic and halal options as being perceived as more natural and kinder to skin,” she said.
“In the UK, 10% of adults consider 'vegan certified' to be an indicator that a beauty and personal care product is natural and/or organic.”
