Customer: Kinvara Skincare
Industry: Skincare products
Features Used: Store Overview, Order Level Profitability and Creative Overview
Location: Ireland
11
Increase in Contribution Margin
218
Net Profit Growth
15
Saved Per Month
Company Background
Since its inception in 2012, Kinvara Skincare has established itself in the Irish market with its award-winning, results driven skincare products. The brand has successfully merged direct-to-consumer sales with a strong wholesale model, paving the way for international expansion in 2024.
The Pre-StoreHero Era
Kinvara Skincare faced challenges with rising advertising costs and lacked accurate data on contribution margins, making strategic decisions difficult. The team was spending considerable time every week aggregating data, leading to decisions made with a degree of uncertainty.
“We were lost in data and handballing figures to try to get clarity, which coupled with attribution haziness made clarity around net profit really difficult but increasingly important. Ecommerce was becoming a very noisy, demanding part of the business and that needed to change”
Joanne Reilly
Founder of Kinvara Skincare
StoreHero's Transformative Impact
Partnering with StoreHero brought transformative changes:
- Store Overview: Provided a comprehensive view of Kinvara’s operations, enhancing understanding of key metrics for profitability.
- Order Level Profitability: Identified over-discounting issues, optimizing profitability and preventing loss-making orders.
- Creative Overview: Offered insights into ad performance, allowing Kinvara to focus on its most successful campaigns.
“Partnering with StoreHero has brought certainty and confidence in our ecommerce strategy but the biggest win for our small team has been in freeing us up to work on other areas of the business. Putting controls in for our ecommerce activity has been really positive for all aspects of the business”
Joanne Reilly
Founder of Kinvara Skincare
Outcome
Implementing StoreHero’s features led to an 11% growth in contribution margin YoY, marking a significant improvement in profitability. The efficiency gained saved time in data aggregation, enabling a focus on strategic growth and laying a foundation for sustainable success.
How Kinvara increased Contribution Margin by 11%
By generating a 11% increase in contribution margin year-over-year, Kinvara Skincare significantly boosted its profit before operating costs. This improvement, coupled with a substantial reduction in operating expenses, propelled a remarkable 218% surge in the company’s net profit from June – Dec YoY.
Utilizing the StoreHero platform, Kinvara saved approximately 15 hours per month. This time efficiency allowed them to swiftly identify and address challenges and opportunities within the business. This strategic focus also supported their efforts in other areas, including international expansion, which is an important part of their growth plans for 2024.
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Since its inception in 2012, Kinvara Skincare has established itself in the Irish market with its award-winning, results driven skincare products. The brand has successfully merged direct-to-consumer sales with a strong wholesale model, paving the way for international expansion in 2024.