| Net Worth | N/A |
| Born | N/A |
| Gender | Female |
| Height | N/A |
| Country of Origin | USA |
| Source of Wealth | Milani Cosmetics |
With the slogan “Luxury that’s inclusive, not exclusive,” a former art teacher, Laurie Minc, founded Milani Cosmetics in 2001. Now, the brand has become a market leader in the color cosmetics industry.
Milani Cosmetics is sold in 75 countries and produces $25- $50 million in annual revenue. Here are 5 must-know facts about Milani Cosmetics founder Laurie Minc’s net worth.
5. Jordana Before Milani
The establishment of Milani Cosmetics started off humble like all great things do. In fact, the company began with the creation of Jordana Cosmetics in 1985 and grew with the founding of Milani.
Many might be unaware of the fact that another beauty brand, Jordana Cosmetics, was founded by Laurie Minc’s father, Solomon Bijou.
During the initial days, Jordana made its most sales in all of Latin America and was sold in over-the-counter beauty stores serving diverse and minority populations.
Laurie changed her career path from being an art teacher to joining her father, who was ready to retire, along with her brother, Ralph Bijou. She carries her father’s principles of not compromising quality and also making it an affordable luxury.
In 2021, Jordana generated annual revenue of $20 million, and as one of the founding members and owner of the brand, this must add to Laurie Minc’s net worth.
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4. Milani Cosmetics Revenue Adds to Laurie Minc’s Net Worth
Needless to say but as a market leader in the cosmetics industry, Milani Cosmetics adds up to the majority part in Laurie Minc’s fortune. The profits and popularity of the brand are growing subsequently over the years.
In 2022, Milani produced a peak revenue of $24 million. The company normally makes close to $2 million in a single month. These figures give us a glimpse of Laurie Minc’s fortune, and we might infer how rich she is.
Minc believes that hitting the retail markets at the right time with the right products did wonders for their business.
Since the initial days of their launch, Milani has offered a wide range of shades for everyone, including African-American consumers.
3. Gryphon Owns the Majority Stakes in Milani Cosmetics
Milani Cosmetics is backed by a San Francisco-based private equity firm, Gryphon Investors, which now holds a majority stake after the deal was signed in 2018.
As a part of the deal, Laurie Minc’s brother and co-founder Ralph Bijou is now president of Jordana, while Minc is Milani‘s senior advisor.
Also, learn about another loved beauty brand CeraVe’s co-founder Tom Allison‘s net worth.
2. High-Quality Product
Milani is known to provide high-quality products at affordable prices. As their motto goes, they aspire to provide a luxury product accessible to all without limiting it to certain groups.
The team at Milani strives to deliver a better product, inclusive of a good thing, making it a preferable brand in the market. Hence, the higher the demand, the more lucrative Laurie Minc’s wealth will be.
With great formulas and hoping for the latest trends, Milani has succeeded in being one of the longest history carrying beauty companies.
1. Melanin-Friendly Cosmetic
One major thing that needs to be considered while creating a makeup brand is how inclusive the color range they have.
Most high-end beauty brands fail to meet this pre-requisite, but Milani Cosmetics is known for its melanin-friendly color range.
This is another reason for the increasing popularity of the brand. It is evident that the brand works for the inclusion of people from different ethnicity and colors.
Also, Milani Cosmetics is known to be a 100% cruelty-free brand, increasing its likability among consumers and campaigns for the betterment of the world.
Milani is in the race to become the most sought-after makeup brand. It is evident that Melani Cosmetics founder Laurie Minc’s wealth is monumental and will continue to grow in the future as well.
Trivia And Facts
- Laurie Minc’s father, Solomon Bijou, served in the army during World War II.
- Minc was born in East LA.
