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BoldFace Group Announces Financial Results, Renames Kardashian Brand
Posted: May 23, 2013
BoldFace Group, Inc., a celebrity beauty licensing company founded by beauty industry veterans focused on entertainment and designer brands for opportunities in the beauty, fragrance and home care markets, reported its financial results for its third quarter and nine months ended March 31, 2013.
The company continues to build on the successful holiday introduction of its Kardashian Beauty brand, which the company recently renamed "Kardashian Beauty" to reflect the input and imprint of the Kardashian sisters on the company's flagship brand. BoldFace expanded distribution into Duane Reade, Ricky's NYC and Bartell Drugs while maintaining its presence in CVS, Ulta Beauty, Fred Meyer , Meijer and H.E. Butt Grocery.
During the three and nine months ended March 31, 2013, the company achieved gross revenues of $3.608 million and $5.362 million, respectively, and gross profit margins of 54% and 46%, respectively. Net revenues were at $3.023 million for the third quarter, compared to $1.526 million in the second quarter.
"We are pleased with the revenue and gross margin increase we have achieved this quarter and a successful comprehensive launch of our Kardashian Beauty brand," said Nicole Ostoya, CEO of the BoldFace Group. "We look forward to continuing our growth and to develop the brand domestically and internationally."