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When Stacy Panagakis took the helm as CEO of LimeCrime just over a year ago, at the same time it was acquired by Tengram Capital, she was excited about the untapped potential of the brand.
“All I saw were opportunities at LimeCrime,” said Panagakis. “The brand excited me so much. It was this digitally native brand with the most passionate consumers I’d ever experienced.”
Since stepping into the role, Panagakis has helped the brand expand its product offering into new categories, such as hair, as well as into new markets in the U.S. and beyond.
On this week’s episode of The Glossy Beauty Podcast, beauty editor Priya Rao sits down with Panagakis to discuss how LimeCrime is partnering with Ulta, how it’s utilizing AR to transform education, and why it’s putting partnerships and collaborations at the center of its marketing strategy. Edited highlights below.
Partnering with Ulta
“So far, so good. The response has been phenomenal. The Ulta consumer is responding incredibly well to the brand, and they’re very excited. Right now, we’re still only on one shelf in about 400 stores, so what we’re hearing on our social platforms is, ‘Why aren’t you at my store? When are you going to be at my store?’ She is responding, and it’s really exciting. When we started, we were uncertain if our larger Venus palette would be of interest to the Ulta consumer, because its price point is $58. We tested it, and it’s the No. 1 selling product right now. So what we’re seeing from the Ulta customer is pretty similar to what we’re seeing around the globe.”
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Taking a new approach to AR
“Experiential retail is the future, and LimeCrime has always created those experiences. At Beautycon, there are the experiences of events, games and incentives for standing in line, and we knew we wanted to bring that experiential retail into Ulta and Riley Rose. When we first considered AR, we realized it was perfect for our packaging and an amazing way to create an experience that would educate and entertain at the same time. So imagine a package where our Venus literally comes to life and talks to you — it tells you about the product and how to use it right in your bathroom or while standing there in store, and it helps you decide if its right for you. We got so excited about that and felt that it’s the next generation of education.”
The endless opportunity of partnerships
“We’ve never played with the macro-influencer. We tested it a couple times, and it didn’t resonate with the brand. So our strategy has always been micro, and it’s absolutely working for us. But we’re looking beyond, because lifestyle and the world is not just one tunnel of beauty. So whether that’s other brand partnerships, collaborations, artists — I think the sky is the limit with where you can go with partnerships and collaborations.”
