Ernst & Young LLP (EY) announced IT Cosmetics co-founder and CEO Jamie Kern Lima as a 2013 Entrepreneurial Winning Woman. Kern Lima is one of 12 winners of the 2013 Entrepreneurial Winning Women competition, which is part of the Entrepreneur of The Year Awards, a national leadership program designed to help accelerate growth of high-potential businesses founded by female entrepreneurs. Selected by a distinguished panel of independent judges from a competitive pool of thousands of candidates nationwide, this accolade is a prestigious honor across all industries.
Launched in 2008, IT Cosmetics is a leader in the prestige color cosmetics market. Prior to launching IT Cosmetics, Kern Lima spent several years as a TV news anchor, where having to look awake and perky for the 5 am news inspired many of her problem-solving products. She works hand-in-hand with plastic surgeons and travels the world to create innovative products that empower women with beauty solutions to help them look and feel better. IT Cosmetics has received multiple industry awards, including more than 200 press placements in prestige beauty and consumer magazines and TV segments. IT Cosmetics a top selling brand on QVC, in Ulta Beauty stores, The Shopping Channel Canada and others, and recently partnered with Guthy-Renker to develop an infomercial set to launch in 2014. IT Cosmetics has done over $70 million in retail sales in 2013 and is on track for continued growth in 2014.
"I feel so blessed and honored that Ernst & Young is recognizing me and all of the incredible growth and potential of IT Cosmetics, and I am just humbled at the caliber of fellow women honored this year," stated Kern Lima. "I dedicate my life to creating innovative and effective, solution-oriented makeup and skin care products that are laser focused on problem-solution and truly giving women the power to look and feel their most beautiful. I am so grateful this authentic passion and mission is resonating with our customers, and that EY sees how powerful what we're doing at IT Cosmetics is, and more importantly, how incredible the potential of growth is!"
"Over the past six years, the Entrepreneurial Winning Women program has grown into a highly competitive platform to help women entrepreneurs accomplish the key goals they have for their companies," said Kerrie MacPherson, principal, financial services office and North American Entrepreneurial Winning Women executive sponsor at EY. "Jamie Kern Lima is an exceptional business leader with great potential, and we are pleased to honor her as one of this year's winners."
Launched six years ago, the EY Entrepreneurial Winning Women™ program aims to help women entrepreneurs whose companies show great potential to scale big and become market leaders. According to an independent assessment by Babson College, the program is working. Participant companies have an average growth of nearly 50% per year and a corresponding 26% average growth in the number of jobs they provide. Since its inception, the program looks to help women entrepreneurs break through the barriers that keep thriving second-stage businesses from reaching their full potential. Once selected, the entrepreneurs participate in an ongoing, customized program designed by EY to catalyze their companies' growth by building and fostering critical relationships, enhancing leadership skills, expanding business acumen and providing increased visibility. They are coached on the five crucial leaps that are critical to growing their business: thinking big and being bold; building a public profile; working on the business, rather than in it; finding and establishing the right networks; and evaluating financing for expansion.
The Entrepreneurial Winning Women program is conducted in collaboration with several organizations that encourage the development of women-owned businesses, including the Women Presidents' Organization (WPO), the Women's Business Enterprise National Council (WBENC), the National Association of Women Business Owners (NAWBO), The Committee of 200 (C200), the Kauffman Foundation and Babson College's Center for Women's Leadership.