The beauty industry has enjoyed a thriving market for centuries. It has continuously evolved and grown as technological advances have allowed for innovation. Now, the global beauty industry is estimated to be worth over $511 million. The beauty industry is an umbrella term for a number of different sectors that involve modification, amplification, and accentuation of appearances.
One, often overlooked, market within the beauty industry is the market for wigs – both synthetic and natural. Shades of Melanin Hair is a company that offers a large variety of affordable and luxury human hair wigs and extensions. Their products are of the highest quality, and purport to be raw and unprocessed.
The Hair Market
Fortune Business Insights states, “The global hair wig market is projected to grow from $2.28 billion in 2021 to $3.0 billion in 2028.” This illustrates the enormity of the wig industry, as well as its proportion to the overall beauty market.
Many consumers turn to natural hair wigs due to hair loss and other hair related concerns. However, this is not the sole reason why consumers purchase wigs. Natural hair wigs have become a way to express unique styles, and adjust aesthetics in an easy and affordable way. Just like consumers turn to makeup to express themselves and feel confident, the wig market is offering the same comfort.
Shades of Melanin Hair
One name that is making waves in the beauty industry is Katrina Scott. This is due to her renowned and extraordinary skills within the wig industry. Scott is the founder of Shades of Melanin Hair – an online wig and extension business, which is based in Houston, Texas. The company is completely owned and operated by black women, who supply unprocessed 100% virgin hair extensions, wigs, lashes, and more. The company was founded on September 30, 2019. The main purpose of the brand is to make melanated women of all shades feel beautiful while putting on their hair extensions.
The company has expanded its base by not only serving clients locally, but for the entire globe. The inspiration behind the creation of Shades of Melanin is Katrina’s mother and grandmother, whom she considers the most influential people in her life. Shades Of Melanin has now become a go-to brand for actresses on the big screen. Academy Award-Winning Actress Octavia Spencer most recently wore the company’s most popular frontal wig during the filming of Apple Tv’s ‘Truth Be Told,’ during the filming of season 2. Actress Stephanie Charles (BET’s ‘Ruthless’) is also a supporter of the brand and has filmed episodes of the OWN Networks ‘The Paynes’ with pieces from the company’s signature curly line.
The next step for Scott and her company is to make Shades Of Melanin Hair a household name. Scott has further allowed the wig industry to gain traction. Her attention to detail and eye for beauty has created a safe space for women of color to access products that make them feel beautiful and empowered. Scott is in the process of opening her first brick-and-mortar location, in Houston Texas. This move will allow Shades of Melanin Hair to reach an even larger audience, and provide a unique space for women of color to find and purchase high-quality wigs. With a physical store, consumers will be able to see the wigs, and other products, on display. This will help them see the quality and appearance of the products at first glance. It is also a thoughtful way to honor Shades of Melanin’s home town and community.
The beauty industry continues to evolve with time. This has allowed it to accrue an enormous value. Moreover, the beauty industry is home to a number of markets that operate in harmony with each other. The wig and hair industry has also seen tremendous growth. Consumers are seeking out wigs and other hair products to experiment with their own personal style, and achieve a specific look without having to make permanent changes to their own appearance. Shades of Melanin Hair has empowered and amplified the beauty of women of color by offering them a space to purchase affordable and luxury wigs and other hair products. The brand has been worn by notable actresses and Hollywood stars. This is a testament to the quality of its products.