As Bansk Group’s vision for its beauty portfolio comes into focus, the brands are now grouped under a newly named umbrella.
The division is now called Bansk Beauty, which differentiates it from Bansk’s pet, home care and food and beverage businesses. The idea is to “have an identity that was a bit more focused around beauty,” said group chief executive officer Reuben Carranza. “We’re a part of Bansk, but this allows us to be very specific in how we talk to and speak about what it means to be a portfolio brand, founder and leader.”
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Carranza said the business is strong across its three brands, which he’s aiming to broaden in scope to all other beauty categories. “We don’t bring brands into the portfolio unless we know they have a performance trajectory,” he said. “We’re not starting with brands that are doing $5 million. These are brands that are already scalable in size, they’re doing above $50 million in revenue, and they’ve got a track record of delivering.”
For Bansk Beauty, Carranza thinks of business strategy and leadership style as inextricably linked. “Building culture is important, culture is driven by leadership,” he said. “Our focus is on great brands, great people on the brands, and it’s not just an execution of an investment thesis.”
That thinking is present at Bansk from the top on down. “It’s really led by brand builders,” Carranza said, nodding to chairman Bart Becht’s history at Reckitt Benckiser Group plc and Coty majority owner JAB. “There are some fundamental things that are important to us — talent development, top talent identification, cross-pollination of talent. We look at opportunities to collaborate and to leverage scale. We connect those dots, but all with the same playbook in mind.”