BeneFit Cosmetics will make you look lovely, and for a good cause. The company, which donates a portion of proceeds to charity, boasts products that have clever names and pin-up lasses on nearly every package. BeneFit sells its lines and offers facial services through more than 2,000 counters (called "Beauty Bars") in department stores and beauty specialty shops in nearly 40 countries worldwide. It also has more than a dozen dedicated boutiques. BeneFit Cosmetics, whose celebrity-endorsed Benetint product brought the fledgling company into the mainstream, was founded in 1976 in San Francisco by sisters Jean Ann and Jane Ann Ford as The Face Place. Glamour leviathan LVMH holds a 70% stake.
The global economic downturn, which caused stalled sales in LVMH's perfume and cosmetics department in recent years, was short-lived. The decline prompted BeneFit to move quickly to attract more customers to its counters. To this end, the company relies on new product launches and international retail expansion. In 2010 the company rolled out new products such as compact powder Sugarbomb and foundation Stay Don't Stray and it continues to extend its reach into perfumes, as well. BeneFit also carted its retail presence to Russia, opening about 20 stores there. The moves are showing signs of paying off. Its products have helped BeneFit to log sales increases for LVMH, which considers BeneFit to be a rapidly growing American brand and a profitable business.
As its name implies, BeneFit is focused on fundraising, as well as lip gloss. It has worked with the Twin Towers Fund and the American Heart Association, donating a percentage of its sales. BeneFit's largest partnership to date is with Big Brothers Big Sisters. – less
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