YouTube personality and professional boxer, Jake Paul, is making a foray into the men's grooming sector with a fresh skincare line, exclusively retailed at Walmart Inc. (NYSE:WMT).
What Happened: Paul unveiled the debut of "W," a skincare brand aimed at men. The personal care collection will showcase products priced below $10 and will be retailed at Walmart, CNBC reported on Wednesday. The brand anticipates expanding its product range on Amazon later this summer.
Paul voiced his conviction in the opportunity to revolutionize the men's skincare market, which he characterized as "old and outdated." The initial product assortment of "W" will comprise a body wash, body spray, and antiperspirant deodorant, with intentions to incorporate a shampoo, conditioner, face wash, and hair gel in the future.
As per Euromonitor, the men's grooming sector was a $28 billion global industry from 2018 to 2023, with an annual compound growth rate surpassing 5%. The Business Research Company anticipates that the men's personal care market will surge to over $100 billion in the forthcoming four years, with an annual compound growth rate nearing 10%.
Paul joins other celebrities such as Dwayne "The Rock" Johnson, John Legend, Idris Elba, and Pharrell Williams who have also recently introduced skincare lines targeting unconventional markets.
Paul is optimistic that his upcoming Netflix fight against Mike Tyson will create a buzz for the brand.
Why It Matters: Jake Paul's venture into the men's skincare market follows his successful foray into other business sectors. In 2023, Paul co-founded Betr, a sports gaming and media company, which hit a $375 million valuation after its latest funding round in March 2024.
Moreover, Paul's upcoming boxing match against Mike Tyson, set to be streamed live on Netflix in November, could provide substantial exposure for his new skincare line. This multi-faceted approach to business and entertainment could set a new precedent for influencers looking to expand their brand.
Price Action: Walmart was trading 0.24% lower at $66.15 on Thursday pre-market after closing at $66.31 on Wednesday, according to Benzinga Pro.
Image via Shutterstock
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari