While many assume the cosmetics industry is overly saturated, Tariq Khan, founder of the award-winning beauty brand, CTZN Cosmetics, begs to differ. He insists that the industry is not only resilient but is a goldmine for exponential growth
In a candid conversation with Lisa Amnegard, Editor at Arabian Business Traveller, Khan shared his insights into the beauty industry’s lucrative potential.
In the November 2023 episode of the AB Majlis podcast, Tariq Khan, founder of CTZN Cosmetics, discussed the rapid growth of his beauty brand and the potential for independent beauty companies to thrive in a competitive market. citeturn0search1
Key Insights from Tariq Khan:
- Industry Resilience: Despite perceptions of market saturation, Khan believes the beauty industry is robust and offers significant growth opportunities. He notes that growth can be exponential, citing his own experience of rapidly expanding CTZN Cosmetics. citeturn0search1
- Strategic Retail Partnerships: The brand’s collaboration with major retailers like Sephora has been pivotal. Khan highlights that such partnerships can lead to substantial growth overnight, exemplifying how CTZN Cosmetics expanded rapidly through these channels. citeturn0search1
- Consumer Behavior: Khan observes that beauty consumers, especially those he terms “Genzennials” (a blend of Gen Z and Millennials), are driven by novelty and personal preference, often making impulsive purchases based on recommendations from influencers. citeturn0search1
- Market Potential in the GCC: Recognizing the GCC region’s significant consumption of color cosmetics, Khan plans to introduce CTZN Cosmetics to markets like Saudi Arabia and the UAE, anticipating substantial demand. citeturn0search1
