Bill and Stacie Lavenia are shaking up the beauty industry with Mavala USA—bringing a revered European brand Stateside, and calculating impressive growth
Bill and Stacie Lavenia, partners at Mavala USA, based in Charlotte, North Carolina, aren’t lifetime members of the competitive, ever-changing beauty biz. But they’re quickly using their finely honed business acumen to take the industry by storm. “We came in with no experience in beauty,” Bill explains. “But we feel like we’ve looked at this business with a different set of eyes, using a business model that has worked for us in other ventures.”
Ransomware is as prevalent as ever. Here are tips on how you can protect yourself and your business.
IT security experts warn there's been a spike in the scourge of ransomware—malicious software that freezes up a computer, encrypts all of its data and demands a ransom for the system’s restoration. Since February 2013, more than 600,000 victims worldwide have reportedly been infected with just one variant of the malware CryptoWall, according to an October 2014 report released by Dell.
Business fundamentals can help your beauty business thrive. Here's a refresher course.
As you probably know, the best way to learn about business is to do business. Having successes and making mistakes are the most proven ways to understand core business processes. Unfortunately, business schools struggle with how to provide this kind of application of skills—often focusing on theory instead. However, an attempt is sometimes made to impart these basics to students. And those of us in the real world sometimes need a refresher. If your store has reached a plateau in its operations, consider some of the concepts taught in business schools and apply them to your store.
It's the key today to unlock today's knowledge-thirsty consumers as well as your beauty store's success in this product category.
In a world where knowledge is power, it's not just industry professionals who want to educate themselves about makeup. Lucky for us, we in the beauty business are able to reap the benefits. The staggering amount of knowledge-hungry consumers is growing every day. Not only do hairstylists want to expand on their makeup skills, but everyday women are eager to learn how to choose and apply the correct colors on themselves.
Do you have old credit card terminals? Watch out! You could be subject to credit card fraud.
Brick-and-mortar beauty stores will be on the hook for credit card fraud if they don’t migrate to new chip card terminals by Oct. 1, according to the major credit card companies. Essentially, MasterCard, Visa, American Express and the like have had it with old technology magnetic stripe cards, which are easy plunder for fraudsters. They’ve decided to shift the liability for fraud to beauty stores and other businesses that insist on clinging to mag-stripe technology and don’t bring in new chip card terminals as of Oct. 1.
Ready to sign a new lease? Smart strategies can protect your bottom line.
It's time for your lease renewal. Are you ready to negotiate? If you're like many retailers, your answer is "No." But a lack of preparation can be costly. Rent is typically a retailer's second-largest operating expense after labor. And the common industry practice of adjusting staff levels to reflect a changing business environment simply won't work with lease payments. You're pretty much stuck with them once you've signed on the bottom line. It's more important than ever to negotiate a better deal in today's real estate environment, characterized by its rising prices.