The Finer Things
A line of high-priced, ultraluxury cosmetics is making heads turn–and wallets open.
Opinions expressed by Â鶹Éç contributors are their own.
Mascara for $589. A tube of lipstick for $150. Those prices may seem outrageous, but Taysha Smith Valez has proved they’re priced to sell. A week after the July 2006 launch of her line of ultraluxury cosmetics, The Socialite Collection, she had already sold 1,700 mascaras, and by October, sales had hit $15 million.
Born wealthy, Smith Valez, 25, knows what’s important to existing and aspiring ultraluxury consumers. Her cosmetics are adorned with thousands of hand-placed Swarovski crystals, and she provides one year of concierge service with purchase. “I come from a background where you have friends whose parents make $150 million a year,” says Smith Valez. “It’s not about how much [it costs]. It’s about ‘I need the service. Make it make sense.'” She has since launched nine additional beauty lines that fall under the umbrella of her New York City company, , with overall sales expected to exceed $40 million this year.
Mascara for $589. A tube of lipstick for $150. Those prices may seem outrageous, but Taysha Smith Valez has proved they’re priced to sell. A week after the July 2006 launch of her line of ultraluxury cosmetics, The Socialite Collection, she had already sold 1,700 mascaras, and by October, sales had hit $15 million.
Born wealthy, Smith Valez, 25, knows what’s important to existing and aspiring ultraluxury consumers. Her cosmetics are adorned with thousands of hand-placed Swarovski crystals, and she provides one year of concierge service with purchase. “I come from a background where you have friends whose parents make $150 million a year,” says Smith Valez. “It’s not about how much [it costs]. It’s about ‘I need the service. Make it make sense.'” She has since launched nine additional beauty lines that fall under the umbrella of her New York City company, , with overall sales expected to exceed $40 million this year.
