ModelCo has made a major announcement in an interview with WWD, sharing that ModelCo founder Shelley Sullivan will be officially dividing the business into two sectors early next year.
Now in its 16th year, and hot on the heels of its limited edition collaboration with Karl Lagerfeld, ModelCo will be split into two sectors to better reflect global consumer shopping habits. At one end will be ModelCo – the premium brand sold internationally at high-end beauty retailers – and at the other will be Mco beauty which has been dubbed "luxe for less" and will be housed in the 'massage' grocery space.
In a statement, Sullivan said: “Launching MCo Beauty into mass retail outlets means ModelCo products reach a wider customer base, by having both the premium and mass offerings.
“The thinking behind the clear split between ModelCo and MCo Beauty is that we feel it is time for a conscious uncoupling and for MCo Beauty to stand apart from ModelCo. We are going to embark on strong, clear communications to ensure that each brand is talking to the right audience.”
In addition to the business changes, Sullivan has just been announced as a nominee for CEO Magazine's CEO of the Year – she is also the only female in the category.
Speaking on the nomination, Sullivan said: “I am truly honoured to be nominated for this year’s CEO of the Year and recognised as a leader in business.”
