Three female founders who set out to create a product that can make natural eyelashes as thick and long as lash extensions have revealed how they went from making $2,000 a month in sales to now reaching over $1 million a month.
Lash Therapy Australia founders Emma Spiliopoulos, Jessica Arthur and Lauren Rugolo officially launched the brand in September 2020 with their Eyelash Growth Serum, with each founder initially investing $4000 in the venture.
Today, the Melbourne-based brand’s total revenue currently sits at more than $20 million in three years, with $7.3 million year to date, up 17% on the 2023 financial year and up 248% from the 2022 financial year.
Since it launched, Lash Therapy has sold 200,000 units of its bestselling eyelash serum – a product that was created to solve a problem encountered by the founders first-hand.
“It was at the beginning of the pandemic when all beauty salons closed and our lash extensions were quickly falling off,” recalls co-founder Lauren Rugolo.
“We were left with bare and brittle lashes and we were on the search for a solution to that.”
That search led the trio to discover there were limited options for lash serums that were made with natural ingredients and suitable for people with sensitive eyes.
“This is when the idea came together and we set out to create a range of products that we were assured would provide results without any risk of irritation or damage to our health,” says Rugolo.
“We are super happy and so grateful for the growth the business has had since we launched, especially starting the business with such a small investment each.”
The Lash Therapy team is made up of the three founders and two full-time social media marketing employees, with the brand outsourcing its packing locally, as well as its customer service.
Lash Therapy ships to more than 170 countries worldwide and is stocked in Costco Australia and New Zealand, along with hundreds of local salons around Australia.
Arthur says Lash Therapy holds a unique position in the market as the brand offers a natural alternative to eyelash growth products.
“Currently the market is flooded with hormone-driven products known to have harsh side effects,” she explains.
“We have developed an online cult following for our real results and being the ‘side effect free’ lash serum.”
This following is evident on Instagram, which the brand has 317,000 followers, and TikTok, where more than 519,000 fans follow its account.
Spiliopoulos tells SmartCompany that Lash Therapy has used social media and leveraged its customer database as it has grown organically by showing before and after photos.
“We have achieved strong organic growth in international markets through our social media platforms,” she says.
“This has created a very diverse customer market for us and allowed us to continue to expand in these markets.
“Our advice would be to keep consistent on these platforms and keep up with trends and new product development to suit your consumers.”
Spiliopoulos adds that Lash Therapy prides itself on developing products that actually work.
“Sharing our amazing before and after results is what drives a lot of traffic and reflects the authenticity of our brand,” she says.
“We utilise every social media platform to do this.
“Our biggest platform would be TikTok as we have a cult following with many influencers also sharing their ‘lash routine’ and ‘GRWM’ [get ready with me] using our products.”
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