The Peel with Turner Novak Building a $510 Million Personal Care Giant with Danielle Cohen-Shohet, Founder & CEO of GlossGenius
Jan 25, 2024
Danielle Cohen-Shohet, CEO and Founder of GlossGenius, shares her journey in shaping a $510 million tech solution for beauty and wellness professionals. She candidly discusses the complexities of the $160 billion market and the shift towards time-based billing. Danielle reflects on her strategic fundraising approach, practical insights from navigating a 90% revenue drop during COVID, and the importance of customer feedback. She also reveals her principles for effective hiring and the significance of balancing broad vision with attention to detail in a rapidly evolving industry.
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Beauty Market Overview
- The beauty and wellness market totals over $160 billion and is highly fragmented.
- It lags behind in tech adoption, with many businesses lacking integrated systems.
Challenges Without Tech
- Most personal care businesses handle many admin tasks manually, limiting growth.
- Time constraints force owners away from their craft to manage operations.
Talent Drives Fragmentation
- The market stays fragmented because service talent is what clients value.
- Social media has empowered many talented professionals to start independent businesses.