Yesterday, I had a conversation with someone about how Meghan Markle could make money. It was put to me that she's run out of options, what with her Spotify podcast being cancelled and her Netflix documentary series being completed.
I disagreed and think there are a number of things she can do, and that's why WME have taken her on. They only handle clients with a certain throughput, they're not handling the minnows. So, she has existing turnover, being the sales of items she's worn over the years and for which she receives a commission. The usual benchmark is 7% of the price tag out the door. This is her starting figure.
But where I think she could clean up is with cosmetics aimed at brown skin girls aged 18-35. My back of the envelope calculation is there are about 12 million such women in America. And before anyone challenges this, I did look it up and worked from a population pyramid. The brown skinned population of America is growing, and it is younger. As well, there are more women than men.
I call these women, the Moroccan look. But they need cosmetics aimed at them and their skin tones. A lot of these cosmetics are now being promoted on the internet, and are not necessarily in stores or on cosmetic counters. This is where the opportunity lies; in the online space.
If we take just 5% of this potential cohort, that is 600,000 customers. If they each spend $250 a year on cosmetics of the kind I'm talking about, that is $150 million in sales that are achievable. Take 7% of that figure, and Ms Markle looks at bringing in $10.5 million every year. A nice earner.
And that's just the start....
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