SANTA MONICA, Calif.--(BUSINESS WIRE)--Starco Brands (OTCQB: STCB), developer and acquirer of behavior-changing technologies and brands that spark excitement in the everyday, today announced an in-depth update on the performance of its business unit, Skylar, maker of clean fragrances. Acquired in January 2023, Skylar has seamlessly integrated into the Starco Brands portfolio and marked a historic milestone by recording its most profitable quarter ever in Q3 2023.
“We are thrilled with Skylar’s extraordinary performance since joining the Starco Brands family. This success story is a testament to our strategic vision and the team’s relentless pursuit of innovation and excellence. Skylar’s record-breaking quarter is not just a milestone for the brand but a clear indication of our ability to identify and cultivate brands with immense potential,” said Ross Sklar, CEO of Starco Brands. “Our focus on synergizing operations, optimizing marketing strategies, and strengthening retail partnerships has been instrumental in this achievement. As we continue to grow, we remain committed to Skylar’s core values of sustainability and well-being, ensuring that every step is a stride towards a better future for our modern, conscientious consumer and our planet.”
Key Highlights:
- Unprecedented Growth: Since the acquisition of Skylar ten months ago, Starco Brands has successfully transformed Skylar into a profitable entity, substantially enhancing the company’s revenue and contributing positively to its synergized adjusted EBITDA.
- Record-Breaking Quarter: The third quarter of 2023 was Skylar’s most profitable ever, driven by innovative marketing strategies, optimized marketing spend, strategic headcount adjustments, and robust sales growth.
- Explosive Sales Performance: In Q3 2023, Skylar experienced a remarkable revenue increase, doubling its sales on Amazon and witnessing a surge of over 45% at Sephora compared to the previous year’s corresponding period.
Deeper Dive into Skylar’s Success:
- Innovative Marketing: In 2023, Skylar revolutionized its marketing strategy by strongly emphasizing digital engagement. This approach involved a comprehensive digital marketing campaign that utilized various online platforms to reach a broader audience. The brand capitalized on influencer partnerships, engaging with key influencers in the beauty and wellness sectors to amplify their message. With their substantial followings, these influencers provided authentic endorsements and reviews of Skylar products, significantly enhancing brand credibility and appeal. The result was a notable increase in conversion rates, as potential customers, influenced by trusted voices, were more inclined to try Skylar’s products. Additionally, this strategy boosted brand visibility across social media platforms and digital media outlets, leading to increased brand recognition and customer loyalty.
- Operational Efficiency: Skylar’s operational efficiency was another critical factor in its success. The strategic reduction in headcount was a difficult but necessary decision to streamline the company’s operations. This move was not just about cost-cutting; it was about restructuring the team to ensure that every member could contribute most effectively to the company’s goals. Skylar implemented process improvements and leveraged technology to automate and optimize various operational aspects. These changes led to a more agile and efficient operation, reducing overhead costs and improving profit margins. The leaner operation did not compromise on quality or customer service but instead created a more focused and effective team.
- Retail Partnerships: Skylar’s enhanced collaborations with retail giants Amazon and Sephora played a pivotal role in driving sales. These partnerships were strengthened through exclusive product launches, which created a buzz and attracted many customers to these platforms. Skylar worked closely with these retailers to develop targeted marketing campaigns tailored to each platform’s unique customer base. For Amazon, this involved leveraging the vast data and analytics tools available to reach a broad and diverse audience. At Sephora, the focus was on connecting with beauty enthusiasts who value quality and exclusivity. These targeted campaigns were supported by in-store promotions and online marketing efforts, creating a cohesive and compelling shopping experience for customers. The result was a significant increase in sales, demonstrating the power of strategic retail partnerships in expanding market reach and driving revenue growth.
About Skylar
Skylar is a trailblazing fragrance brand dedicated to creating clean, hypoallergenic, eco-friendly scents catering to the modern, conscientious consumer. Founded in 2017, Skylar empowers individuals to feel beautiful, confident, and safe in their skin with a diverse range of fragrances crafted to inspire and uplift. Utilizing the finest ingredients and prioritizing sustainability, Skylar designs innovative formulations to be gentle on sensitive skin, free of harmful chemicals, and vegan and cruelty-free. The packaging features a 100% recyclable bottle, cap, and box unique in the fragrance industry. Expert perfumers thoughtfully craft each scent to evoke a unique sensory experience, encapsulating the essence of life’s cherished moments and memories. With a commitment to giving back, Skylar actively supports non-profit organizations focused on women’s empowerment and environmental conservation. Through its exceptional products, dedication to customer satisfaction, and social responsibility, Skylar continues redefining the fragrance world, one scent at a time. In January 2023, Skylar was proud to announce that it became a business unit under the umbrella of Starco Brands, Inc., an inventor and acquirer of consumer products with behavior-changing technologies that spark excitement in the everyday. Please visit skylar.com for more information.
About Starco Brands
Starco Brands (OTCQB: STCB) invents consumer products with behavior-changing technologies that spark excitement in the everyday. Today, its disruptive brands include Whipshots®, the world’s only vodka-infused whipped cream; Art of Sport, the body care brand designed for athletes and co-founded by Kobe Bryant; Winona®, the first indulgent theater-popcorn spray powered by air; Skylar, the only fragrance that is both hypoallergenic and safe for sensitive skin; and Soylent, the complete non-dairy nutrition brand. A modern-day invention factory to its core, Starco Brands identifies whitespaces across consumer product categories. It draws upon a portfolio of innovative formulas spanning eight product categories with limitless innovation potential. Starco Brands publicly trades on the OTCQB stock exchange so that retail investors can invest in STCB alongside accredited individuals and institutions. Visit starcobrands.com for more information.
Forward-Looking Statements
Any statements in this press release about the Company’s future expectations, plans and prospects, including statements about our financing strategy, future operations, future financial position and results, market growth, new product launches and product growth, total revenue, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The Company may not achieve the plans, intentions or expectations disclosed in the Company’s forward-looking statements, and you should not place undue reliance on the Company’s forward-looking statements. All forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time. Therefore, readers are cautioned that actual results could differ materially from those expressed in forward-looking statements. The Company undertakes no obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law. This cautionary statement entirely qualifies all forward-looking statements in this document.
Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements the Company make as a result of a variety of risks and uncertainties, including risks related to the Company’s estimates regarding the potential market opportunity for the Company’s current and future products and services, the impact of the COVID-19 pandemic, the competitive nature of the industries in which we conduct our business, general business and economic conditions, our ability to acquire suitable businesses, our ability to successfully launch new products and seize market share, the Company’s expectations regarding the Company’s sales, expenses, gross margins and other results of operations, and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s public filings with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 2022 and our subsequent interim reports on Form 10-Q and 8-K. Copies of our SEC filings are available on our website at www.starcobrands.com. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date hereof. The Company anticipates that subsequent events and developments may cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date after the date hereof.
