We are thrilled to announce our investment in Colourette, a dynamic and proud Filipino beauty and skincare brand in the Philippines. Since entering onto the scene in 2015 when it was founded by Nina Ellaine Dizon, Colourette has been painting the Philippines with its spectrum of shades, becoming a homegrown hero in the Filipino beauty arena.

Delivering multi-use makeup with the most inclusive array of color shades at wallet-friendly prices, the brand believes its products are for everyone – regardless of gender, sexual orientation, age, occupation, or ethnicity. Colourette is all about embracing and expressing yourself: #BeautyInAllWays, always! Colourette has not only expanded the conversation in the beauty market with products tailored for Filipino skin tones, but has also stood as a testament to the power of purpose-driven and community-centric branding in the digital age.

Philippines' Beauty Market: Riding the Wave of Digital and Cultural Shifts

The Philippines' Beauty and Personal Care market has significant untapped potential and dynamic growth, projected to reach a staggering USD 6 billion by 2026. Color Cosmetics segment alone, valued at USD 276 million in 2021, is forecasted to grow at a CAGR of 10.8%, reaching USD 460 million by 2026, according to Euromonitor

Until recently, the Philippines market has been predominantly served by Western, Korean, and Japanese brands. These traditional players, while substantial in their global reach, have often missed a critical aspect: catering to unique Filipino skin types, lifestyles, and climates. Their marketing strategies, often featuring Caucasian models, have resulted in a disconnect with the local Filipino consumer base. This gap in the market has paved the way for a new breed of homegrown brands, focused on being "invented by Filipinos, for Filipinos". Colourette, with its commitment to quality, affordability, inclusivity, and local pride, emerges as a frontrunner in this new wave of brand positioning.

The Philippines market also revealed an interesting and pivotal change factor: the country's unparalleled engagement with social media. The tropical country, with its large demographic of young, energetic individuals under 30, is a community buzzing with life and digital interaction. Filipinos spend almost 4 hours on social platforms, far surpassing any other country in the world! This extensive digital engagement has transformed the landscape of beauty trends and consumer purchasing behaviors, especially after the arrival of TikTok. The rise of TikTok and live commerce in the Philippines has been nothing short of meteoric. As of December 2023, approximately 35% of the population, ~40 million individuals, are TikTok users, placing the country 8th in global rankings. The pandemic further accelerated this shift, steering consumers towards e-commerce amidst restrictions on physical retail. At DSG Consumer Partners, we believe that "insurgent brands should meet consumers where they are"; the convergence of these two critical factors — the gap in the market for Filipino-centric products and the explosive growth of digital platforms — creates a powerful flywheel for Colourette.

Colourette: A Brand Beyond Products, Towards Purpose and Influence

In the competitive landscape of the Beauty and Colour Cosmetics category, Colourette is redefining what it means to be a beauty brand in today's digital-centric world. Our thesis is rooted in three aspects that underscore Colourette's unique market position:

1. Purpose-Driven Branding: A Commitment Beyond Beauty

The CEO and founder, Nina Ellaine Dizon’s journey from a college dropout to founding Colourette (read more here) is not only inspiring but also indicative of her commitment to breaking barriers and setting new standards in the beauty industry. Her desire to create a beauty line that catered specifically to the Filipino market - considering factors like budget, lifestyle, and diverse skin tones - led to the birth of Colourette in 2015. Later on, this purpose-driven approach extended beyond product functionality, focusing on ethical practices like cruelty-free formulations. This approach resonates with a growing consumer base that values brands with sustainable and ethical practices. Moreover, together with Nina's personal story, Colourette’s dedication to championing inclusivity and diversity is not just a marketing tactic but a fundamental brand philosophy. This purpose-driven branding has enabled Colourette to carve a niche in the market, appealing to consumers who seek to align their purchases with their values.

2. Community-Centric Approach: Building Trust and Engagement

The essence of Colourette's rise lies in its ability to create a community-driven brand. The Peaches, a vibrant consumer base, are active participants and advocates of the brand's inclusive values. Our engagement with "The Peaches" revealed the profound impact of Colourette's responsiveness to its community. A prime example of this is the evolution of their flagship product, Colourtint. Initially housed in a distinctive "nail polish bottle" design, Colourtint has undergone significant refinements, guided by continuous community feedback. This willingness to listen and adapt has been pivotal in enhancing the product experience and this community-centric approach is also reflected in Colourette's other product offerings, which are designed keeping in mind the Filipino consumer's preference. By positioning itself as more than just a beauty brand, Colourette has become a trusted companion for its consumers, understanding and responding to their needs and constraints with empathy and insight.

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3. Authentic Digital Influence: Nina’s Impactful Presence

Nina’s authentic online influence, particularly on TikTok, has been instrumental in amplifying Colourette’s brand visibility and resonance with the audience. Her advocacy for female empowerment, self-care, entrepreneurship, inclusivity, and diversity through different social media platforms aligns with the brand’s values. This genuine connection with the audience further builds brand visibility and trust and deeply resonates with conscious consumers, especially the Gen Z demographic. This strategy has yielded significant results and is reflected in Colourette's impressive online performance. The brand's success in the digital realm, coupled with its effective omnichannel rollout, provides a robust blueprint for growth.

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Next New Chapter with Stephanie: Strengthening Colourette's Leadership

We are thrilled to have Stephanie Chan Tanjuatco as the new Chief Operating Officer. Stephanie began her career at L'Oreal as Division Controller, developing strategies for brands like Kiehl's, Maybelline, and L'Oreal Paris. She then led Fashion at Shopee Philippines, managing consumer metrics, trends, and seller relationships. Previously, she advised major Southeast Asian conglomerates on portfolio and commercial optimization as an Engagement Manager at McKinsey & Company. Stephanie brings a wealth of experience, a fresh perspective, e-commerce expertise, and industry knowledge. We believe that in partnership with Nina, Stephanie will propel Colourette to new heights of operational excellence and market expansion.

Looking Ahead: More Than Just Beauty Products

In Colourette, we see more than a beauty brand; we see a movement that empowers, a community that supports, and a story that inspires. This partnership aligns with our goal at DSG Consumer Partners to support businesses that are not just successful in their domain but are also catalysts for positive change. Colourette’s journey from an idea to a brand that resonates deeply with its community is a narrative we are proud to be a part of. As we continue this journey together, we are excited about their plans to expand into new categories with Fresh Formula and continuously innovate. As we look to the future, we believe that endless possibilities lie ahead for Colourette, its community, and the broader beauty industry in the Philippines.  

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