Poundland launches its own #6 skincare range
Black Country-based budget chain Poundland is launching its own £1 skincare range as the budget retailer looks to tap into what is tipped to be a £26.7 billion beauty market.
The group said that its six-piece skincare range #6 will "inject some everyday luxury" into beauty routines.
Products will include micellar cleansing water, anti-ageing day cream, anti-ageing night cream, collagen filler, eye cream and derma serum.
Poundland, based at Willenhall and with nearly 850 stores, flagged research by Global Data that shows annual spend per head on skincare is set to rise by £73 to £487 over the next five years, with the market to be worth £26.7 billion by 2022.
The retailer, owned by South Africa's Steinhoff, has been diversifying rapidly over the past few years.
To this end, Poundland is accelerating the rollout of Pep&Co fashion outlets within its stores as the firm ramps up competition with rival Primark.
The expansion drive is part of its aim to become a "major high street fashion player".
WATCH the skincare range launch
Holly Mobley, Poundland's head of glamour, said: "Everyone wants to look good for less, and we spent a long time ironing out the wrinkles to develop a fantastic skincare range to fit all budgets.
"We set out to challenge expectations, we want customers to feel like they are buying a bit of luxury without breaking the bank and are confident #6 hits the mark for beauty addicts and skincare novices alike."
Poundland was founded by former Willenhall market trader Steve Smith and his father in 1990. They sold up 10 years later for £50 million. Since then the company has gone through several owners but has continued to expand, now employing around 17,000 people with stores in Ireland Spain, France and Eastern Europe.
The company currently employs around 700 people at its headquarters, beside the Black Country Route at Willenhall, and at its distribution warehouse at Springvale in Bilston.