Mary Kay Inc is one of the world's six largest direct sellers of skin care and colour cosmetics, with operations in more than 35 countries. The Mary Kay product line includes more than 200 premium products in six categories: facial skin care, colour cosmetics, nail care, body care, sun protection and fragrances. Most products carry the Mary Kay brand, but spin off brand Velocity was launched in 2002 targeting teenagers and younger women. A men's skincare range was first tested in 2003 but later discontinued. It was reintroduced in 2006 as MKMen. Like its arch-rival Avon, products are sold door-to-door or in home demonstration parties by a global network of independent beauty consultants, who earn up to 50% of all sales, plus commissions and generous incentives. For many years until her death in 2001, Mary Kay's not-so-secret weapon was its founder, Mary Kay Ash. A household name in the US by the early 1970s, she was among the first role models for independent American women wanting to carve out a niche of their own. Advocating a potent mix of down-home family values and steely determination, she also broke the mould in sales incentives, inspiring her team with public recognition as well as a stream of lavish gifts, including the company's signature pink Cadillacs. The company celebrated its 50th anniversary in 2013. Mary Kay Inc is privately owned by the founder's family. Mary Kay's son, Richard Rogers, is executive chairman and owns 52% of the company's equity. The Mary Kay Foundation owns a further 34.5%, while daughter Janice Rogers has 12.5%. David Holl is CEO. Wholesale revenues were around $3.6bn in 2019. Although the US remains its biggest market by far, accounting for around 30% of sales, there are Mary Kay networks in more than 35 international markets. The most important are China, Russia, Mexico and Brazil. Indeed, out of a total sales force of 3m consultants, around a quarter are located in China and only slightly fewer in Russia, compared to under 10,000 in its home market. The group established a presence in India for the first time in 2007, and in Singapore in 2008. The company develops and manufactures its products in two large facilities in the US and China.
Capsule checked 23rd November 2020
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