Female Millennial Opps: Patrick Ta Beauty taps CEO with marketing background (Score 58)

Sales Lead: Patrick Ta Beauty, LLC (PTB), a beauty brand created by celebrity makeup artist Patrick Ta, named Kimberly Villatoro as its CEO in January 2023.

• Before her most recent stint as the VP and GM at Smashbox & Glamglow, Villatoro handled Smashbox's brand strategy and operations as its NA marketing VP.
• Now, Vilatoro will lead PTB's rapid growth plans.
• She succeeds Avo Minasyan, the former CEO who helped launch PTB and will now shift into the position of board chairman.
• The company will likely:
  • Implement strategy shifts
  • Return to higher spend
  • Seek new agency partners
• Target demographic: 
  • Millennial women

Additional strategy insights:

• This announcement comes not long after PTB landed a private equity funding round in October 2022.
  • The terms of the deal were not disclosed.
• Due to this funding, PTB will reportedly more than double its marketing output YOY.

Additional recent leadership shifts:

• The company appointed Sonika Suri, the former integrated marketing and communications manager at Beautycounter, as its brand marketing manager earlier in April 2023.
• PTB also hired PR and brand manager Kayla Casillas in July 2022 and then promoted her to marketing director in February 2023.

Additional spending insights:

• Digital insights (digital display ad spend)
  • YTD spend: PTB hasn't utilized digital display since spending around $12.3k in 2021.
  • 2021 data: Most of the company's 2021 spend went toward programmatic ads placed via Google Display Network (76%) onto site destinations such as espn.com (31%), townhall.com, foxnews.com, latimes.com, and baseball-reference.com.

Additional agency insights:

• Opportunity: Get on this new DM's radar sooner rather than later.
  • Newly hired CEOs don't always conduct agency reviews as often as newly hired CMOs do, but due to Villatoro's marketing background, she may be an exception.
  • An advantage will go to those with cosmetics expertise.
• Current agency roster:
  • No current agency relationships yet confirmed

Insight Sources: Funding insights by Crunchbase; digital spend insights estimated by Adbeat.