With an increase in the significance of self-care and wellness among consumers worldwide, the makeup industry continues to flourish. Although a setback has been observed due to COVID-19 in 2020, the demand for these makeup brands is interminably increasing more than ever before.
Multiple factors affect the demand for a particular brand, as with awareness of animal rights, many users demand cruelty-free(not tested on animals) or vegan(not derived from any animal substance) makeup. If you’re searching for the top makeup brands of 2024, then you’re at the right place. So, without further ado, let’s ponder to find our exclusively compiled comprehensive guide for your assistance.
1. MAC Cosmetics
Abbreviated from Make-up Art Cosmetics, M.A.C Cosmetics was founded in 1984 by two famous Canadian friends named Frank. Famous photographer Frank Toskan and spa owner Frank Angelo teamed up and inspired to launch a makeup brand that could withstand the lights and heat of photography with studio lights.
Initially, it was designed for professionals, but it later became so famous that it was available to the general public. As per recent statistics, MAC Cosmetics has generated a revenue of $2.5 Million in 2022.
2. Maybelline
When famous pharmacist Thomas Lylle Williams saw his sister, Maybel, applying a mixture of coal dust and Vaseline to give her eyelashes a dark and fuller look, the idea struck him, and he blended it with his chemistry apparatus to introduce the first product called Lash-Brow-Liner.
He later named the brand in honor of his sister, Maybelline. In 2021, Maybelline eye products ranked first among Britians with 3.97 million users, while foundation and lipstick /lipgloss were ranked as the second and third best products.
3. L’Oreal
By using para-phenylenediamine, Eugéne Schueller, a French chemist and pharmacist, who created the first safe hair dye for women in 1907. He called this exquisite creation of his “Oréal,” a French word for beauty.
Two years later, he formed his firm called “ The French Company of Inoffensive hair dyes,” an ancestor of the L’Oreal Group. Today, L’Oreal prides itself on being the largest cosmetics and beauty company in the world, with a revenue of $40.3 billion in 2022.
4. Estée Lauder
Starting with just 4 products, In 1946, Mrs. Estée Lauder founded “Estée Lauder Cosmetics” and started selling her products initially in saloons. She presented women sitting in saloons under hairdryers and asked them to use and testify about their products.
Estée wisely picked the pale turquoise color to represent her brand’s jars to match it with restroom decor. As per recent statistics, in 2022, Estée Lauder ranked third among the leading beauty manufacturers worldwide and generated a revenue of over $16 Billion.
5. Fenty Beauty
With a firm affirmation that makeup is just for fun, not to be afraid of or feel like a uniform, Rihanna launched Fenty Beauty because every woman is special. Fenty Beauty was launched in 2017 in 17 countries with 1,620 stores worldwide, with 40+ shades of foundation, fostering inclusivity, which made them generate sales worth $500 million in its first year.
With a noteworthy 65 % brand awareness among millennials, Fenty Beauty, as a young company, still has tremendous potential to reach its target audience.
6. HUDA Beauty
An unsettled and unhappy Huda Kattan quit her job in finance and started a blog in 2010 as a beauty blogger. After failing to find some quality false eyelashes, Huda, along with her two sisters, Alya and Mona, launched her false eyelash brand in 2013 and named it Huda Beauty.
With over 100+ products, Huda Kattan prided herself on being her brand ambassador and managed to generate $200 million in sales and gain 51 million flowers on Instagram in 2022.
7. NYX Cosmetics
When Ko was just 13, her family moved from South Korea’s province of Daegu to LA. They later initiated the cosmetics and perfume business in L.A. Ko would spend hours in multiple cosmetic stores trying creamy foundations and colorful blushes and would replicate the same high-end look with cheap cosmetics from the drugstore.
At 25, she borrowed $250,000 from her family and started her own cosmetics, NYX, pronounced “nix,” which she named after the Greek Goddess of the night. Ko saw the potential market gap and launched NYX cosmetics, high-quality cosmetics at drugstore prices.
8. DIOR
Christian Dior was born in 1905 in France, and while growing up, he worked as a pattern cutter for Robert Piguet and Lucien Lelong. In 1946, he launched his couture brand called “Christain Dior”. In 1947, Christian launched his first perfume, “Miss Dior,” to honor his sister, Catherine Dior.
In 1969, with an exclusive collection of lipstick and mascara, Christian Dior cosmetics were launched, and the rest is history. As per a recent statistic in 2023, Christain Dior has generated a revenue of €86.2 billion with an organic growth of 13 %.
9. Clinique
Clinique was founded in 1968 by Evelyn Lauder(Daughter-in-law of Estée Lauder). Evelyn, with her husband Leonard Lauder, was working on Estée Lauder products and found a market gap in finding a skin care product that the skin really needs.
She later collaborated with dermatologist Dr. Norman Orentreich and launched three simple-step skincare routine products for all skin types: Cleanse, Exfoliate, and Moisture. In 2023, Clinique has generated a revenue of $ 4.3 Billion.
10. NARS Cosmetics
NARS Cosmetics was launched in 1994 by François Nars, a graduate of Carita Makeup School in Paris. Since the beginning, he loved Vogue over comics, and before 1994, he worked with huge publications and fashion designers.
He launched his initial collection with 12 lipsticks available at Barneys New York. NARS was acquired by Shiseido in 2000, and their expertise was utilized to launch NARSkin in 2002. Today, NARS cosmetics maintain a 51% brand awareness in the USA with an annual revenue of $ 3.1 Million.
Conclusion
Gone are the days when makeup brands had to use their larger-than-life billboards or spend millions on marketing. With 4.95 billion social media users worldwide, it’s easy to market a brand with the help of hiring a social media influencer.
Hence, it’s time to have a social presence, as 62% of consumers search for makeup products on social media accounts before actually buying them. We hope our guide about the top 10 best-selling makeup brands has enlightened you. Which brand story did you like most? Let us know in the comments below.
