7 Virtues Appoints New CEO - Targets Ecommerce Growth

The The 7 Virtues Beauty Inc. brand is advancing under full steam after receiving investments from Unilever Ventures and True Beauty Ventures last year. They have appointed James Park , former president of Herbivore, as CEO, and Will Chung , VP of strategy at Burberry, to their board.

The brand, founded by Barb Stegemann in 2010, is now present in 1,514 Sephora stores across 19 countries. In 2018, The 7 Virtues participated in the Sephora Accelerate program, with Chung as a mentor. Park's goals include expanding their Sephora business, enhancing e-commerce (currently under 20% of sales), and aiming for a 50% online sales target. Last year, their sales grew by over 45% without paid advertising.

Stegemann will now focus on product development and storytelling. The 7 Virtues’ key fragrances include Vanilla Woods, Cherry Ambition, Coconut Sun, and Amber Vanilla, catering primarily to Gen Z and millennial consumers.

In addition to retail expansion, the brand is opening its first flagship store in Halifax, designed by Jean-Pierre Viau, featuring a unique, interactive customer experience. The store will host various events and offer fragrance customization.

Park emphasizes the need for perseverance and adaptability in the competitive fragrance market. With plans to expand their team in LA and New York, The 7 Virtues aims for continued growth and profitability.

Exciting moves in the ultra-competitive fragrance market.