Markwins said Tuesday that the move comes with the departure of Physicians Formula president Jeff Rogers, who is resigning to spend more time with his family.
Markwins noted that George has been leading its growth for the past seven years. In his 17 years at the company, George has played a key role in recent brand acquisitions, including Physicians Formula and Bonne Belle/Lip Smacker. Before his expanded role, George oversaw the wet n wild, Black Radiance, Bonne Belle and Lip Smacker brands.
The beauty care company also announced that the shift of Physicians Formula to George marks the first step in the new organizational structure focused on consumer-centric category management, greater investment in product innovation and accelerating brand evolution.
Markwins said it aims to consolidate its branded portfolio to have dedicated, customer service-centric sales, marketing and analytic support teams across all global regions. Plans also call for the company to enhance its research-and-development centers in Los Angeles and Shenzhen, China, “with significant investment in talent and resources,” as well as to open a new satellite facility in Shanghai, China.
With the new structure, Markwins said, the company can spur sales of key brands by focusing sales teams on key retailers and brand-specific marketing plans, leverage shared services, and invest in initiatives to improve customer engagement and product innovation. The streamlined management structure also creates “a more thoughtful” hierarchy and succession plan, according to the company. And with the sales, marketing and supply chain teams taking the reins, Markwins positions itself to provide better customer service and sales support, the company added.
“This is the next logical progression in our ongoing effort to accelerate our growth trajectory and maximize value and service for our customers,” George said in a statement.
The company, too, reiterated its commitment to deliver the latest trends and beauty products to customers at accessible price points. Recent successes include wet n wild’s 1 Step WonderGel launch in January, which Markwins called the industry’s No. 1 nail polish launch of the year; Physicians Formula Mineral Wear Cushion Foundation; Lip Smacker’s Tsum Tsum, the brand’s partnership with Disney; and Black Radiance’s True Complexion Match Me Foundation.
“Markwins Beauty Brands has experienced exceptional growth, especially in the past two years, and our aim is to increase investments that propel future opportunities across all international trading regions,” stated Eric Chen, chairman and chief executive officer. “In our rich 32-year history, I believe the next three to five years will be the most dynamic for our company.”
Citing data from Nielsen, Markwins reported that through the 2016 first quarter, sales in its beauty brand portfolio are up 16.9% year over year, outpacing total cosmetics industry growth of 3.9% and positioning the company as North America’s fourth-leading beauty brand supplier.
Overall, the Markwins brand roster includes wet n wild, Physicians Formula, The Color Workshop, The Color Institute, Black Radiance, POP, Bonne Belle and Lip Smacker, as well as a range of internal brands and licensed brands.