🍾 Running out of champagne

November 18, 2022

From thousands of layoffs in the tech sector to the FTX meltdown wiping out billions from the crypto market, there's not much cause for celebration right now. That takes us to our first story of the week...

Male celebrities can't seem to stop dropping skincare lines

💆‍♂️ Brad Pitt, Jared Leto, Travis Barker, and more have recently launched skincare lines.

💰 Some A-listers aren't even that into it but want to make the most of the global men's skincare market, which is projected to reach $28.3B by 2029.

🌈 The focal point of the products is that they are 'genderless,' which could be a marketing ploy or a call for more men to partake in beauty.

Paint the town (and your nails) red!

💅 Lil Yachty, Machine Gun Kelly, and Harry Styles are among a deluge of male celebrities launching nail polish brands.

🏳️‍🌈 The trend comes as gender expressions evolve, and consumers led by Gen Z seek to experiment with androgynous fashion products.

💸 However, the brands' inflated pricing might discourage buyers from trying them.

Everyone is a beauty baron now... but the industry isn't pleased

🚫 After Brad Pitt launched his 'genderless' line, a collective of beauty founders penned an open letter asking him to shut down his skincare brand.

👎 The letter says celebs have "NO experience" since they've never worked in the industry from the ground up.

🤝 They've asked Pitt to partner with an existing brand if he's genuinely passionate about the industry.

Jared Leto is not interested, but he's selling a $97 eye cream

🤑 Despite not being interested in skincare, Jared Leto is selling expensive products.

💵 Shoppers aren't thrilled about it, saying that anything over $10 for a cleanser is "fucking ridiculous."

🎰 Experts say the men likely aren't much involved in the brands and want to cash in like other industry successes, like Gwyneth Paltrow's Goop or Rihanna's Fenty Beauty.

If you have any feedback, drop it here. Have a great weekend!