Huda Kattan’s ambition was to create a successful business and establish herself in the world of cosmetics. Her challenge was met with success, as she managed to transform a $6,000 loan into a business worth more than $1 billion today.
Very difficult beginnings for Huda Kattan
Huda Kattan, now 37, graduated from the University of Michigan in 2008. She then moved to Dubai to join her family. However, due to the crisis, she lost her job and found herself without income for many months.
Although it was a very difficult time, Huda Kattan saw it as an opportunity. “When people go through somewhat difficult situations, they quickly want to put a bandage on and go back to where they are most comfortable. It’s really important to step out of your comfort zone and follow a dream that you would never have had the courage to achieve,” explains the young entrepreneur to CNBC Make It.
Huda Kattan therefore decided to turn to a career that fascinates her and that thrills her every day. She attended makeup school in Los Angeles, returned to Dubai, and started the blog Huda Beauty in 2010. She began to build a community that follows her closely and supports what she does.
The young 37-year-old CEO didn’t stop there and took the risk of launching a line of false eyelashes in 2013 with her two sisters, Mona Kattan, now 36 years old, and Alya Kattan, aged 48 years old, who agreed to lend him $6,000 to create his products.
Building a community on Instagram before launching your own brand is a strategy followed by another entrepreneur: Justine Hutteau. She also first gathered subscribers on social networks before launching her company specializing in hygiene products: Respire. She also spoke about the strategy and the beginnings of her brand in our latest issue of So Biz.
Huda Beauty: A risk worth taking
Huda Kattan does not hide the fact that she took big risks and that the entrepreneurial adventure was not easy. She admits having had real difficulties finding stable sources of income to repay her sister. The uncertainty and fear of not turning a profit and the risk of the business not taking off was a real mental test for Huda Kattan.
However, her lashes received praise from celebrities like Kim Kardashian, which inevitably popularized her products. In 2013, Sephora Dubai also agreed to sell its products in its stores. At the time, Sephora expected to sell 7,000 units of false eyelashes in a year. Sales results? All 7,000 units were sold in one week! Sales reached improbable levels: $1.5 million was generated the same year and $10 million the next, according to Forbes.
It was from this moment that Huda Kattan understood the scale that her cosmetic brand, Huda Beauty, would take. She then set herself the goal of developing her brand on a global scale. Huda Beauty arrived in the United States in 2015 and has continued to grow ever since.
In 2017, Huda Kattan sold a minority stake to TSG Consumer Partners, which valued the company at $1.25 billion, according to PitchBook.
Huda Beauty: Surprising figures that exceed all expectations
In 2020, Huda Kattan was worth $510 million, according to Forbes, which ranked her among the self-made women the richest in America. Forbes estimates that the Huda Beauty brand earns at least $250 million in annual sales.
Although Huda Kattan announced she was stepping down as CEO in September, she still returned to her role as CEO. Huda Beauty refuses to provide further details regarding this decision.
Today, Huda Beauty offers more than 140 products, ranging from foundation to concealer, lipstick, and more. Last June, the brand launched a new makeup collection called GloWish. Consistent with its beginnings, the brand has maintained a strong presence on social media. Huda Beauty currently has over 48 million followers on Instagram and over 4 million followers on YouTube.
“It’s so important to find something that truly fuels your passion”underlines Huda Kattan. The entrepreneur recognizes that the key to success is following your passion, building your business and being inspired daily by your family and loved ones.
