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Saturday, May 18, 2024
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H.I.M-istry Naturals Strikes Deal with Nordstrom

A San Diego-based manufacturer of natural men’s grooming products is capturing a bigger market share thanks to a newly-inked strategic growth partnership.

Founded in 2016, H.I.M-istry Naturals has struck a deal with Nordstrom to sell its line of 30 organic skin and shave care products in 70 locations across the country to start. This includes toners, serums and cleansers.

The agreement could lead to seven figure-plus revenue growth for H.I.M-istry within the first year, said Darnell Henderson, founder and CEO. The partnership will also add value to the Black-owned company, increase brand awareness and create brand trust, he said.

“We can certainly reach seven figures in purchase orders,” said the 43-year-old, originally from Alabama. “Nordstrom already approached us about expanding into its Canada stores. So, we are already gaining momentum within the organization from this initial effort.”

Darrel Branch, chief marketing officer at H.I.M-istry, added, “We look forward to a future path of growth and innovation by aligning with a strong retail giant such as Nordstrom while continuing to seek additional partners who are aligned with our authenticity and embrace our vision to expand our reach and impact the market with great product offerings.”

$1 Billion in Cash

 

There is certainly a strong demand in the men’s grooming industry.

 

In 2016, for example, Dollar Shave Club was acquired by Unilever for a reported $1 billion in cash. Dollar Shave Club is a subscription service that delivers razors and other personal grooming products to customers by mail.

The men’s grooming sector has been steadily growing for several years now due to increasing consciousness on health and wellness, according to Million Insights, a market research company. Elsewhere, Mordor Intelligence, another market research brand, states the men’s grooming products market was valued at $55.22 billion in 2020 and is projected to see a CAGR of 4.29% during the forecast period of 2021 through 2026.

 

Skincare Specialist

Henderson got his start in the skincare industry in 2004, shortly after serving in the U.S. Navy. Inspired by his own frustrations in finding quality products for his skin issues, he decided to enroll in the Florida College of Natural Health to become a registered skincare specialist while working a day job as a loan officer at J.P. Morgan.

Once he got his degree, he opened a men’s grooming facility in Fort Lauderdale, his first foray into the industry. While running the business, and at the behest of his clients, he created three men’s skincare products that resonated with his targeted audience.

 

When a string of hurricanes hit Florida in 2004 and forced Henderson to close his store, he focused his energy on officially developing his men’s grooming brand.

In 2007, Henderson landed his first big box contract with Macy’s. Although the Great Recession ended that partnership prematurely, it was the acquisition of brands like Art of Shaving, a high-end men’s shaving and skin care line, and Zihr, a male skincare brand, for roughly $60 million each by Procter & Gamble that prompted Henderson to keep moving forward with the business plan.

“Two men’s brands being purchased at the height of the recession told me, stay around in this industry, ride this wave through this whole economic downturn and position yourself for growth,” he said.

Henderson eventually relocated to San Diego and in 2016, officially incorporated the company, which was originally self-funded and also now has a number of board members who serve as angel investors.

Independent Skincare Specialists

Today, Henderson says H.I.M-istry still does promotional buys with Macy’s. It also sells on Amazon, its main vehicle for e-commerce sales, as well as the Himistry.com website. But his main focus is the 200 independent barbers and skincare specialists that also bulk purchase and sell H.I.M-istry products directly to their customers.

“Nordstrom is a great partner and gives us a lot of brand awareness, but independent individuals doing the services are our main focus,” Henderson said. “Our position is to empower these individuals to create additional revenue streams when they can’t provide a service, like during the pandemic, for example. This is their industry, and they are the experts. So, we hope to bridge that gap and use them as our on-the-ground influencers.”

In the immediate future, Henderson said he hopes to raise capital for growth and scale the company by landing in other major retail stores. Down the line, like his competitors, he would consider an acquisition.

H.I.M-istry Naturals

FOUNDED: 2016

FOUNDER/CEO: Darnell Henderson

HEADQUARTERS: Downtown

BUSINESS: Maker of natural men’s grooming products.

REVENUE: Seven figure-plus revenue growth opportunity within a year

EMPLOYEES: Four full-time

WEBSITE: www.himistry.com

NOTABLE: The company founder launched after experiencing frustrations in finding quality products for his skincare issues.

CONTACT: Info@HIMistry.com

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