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Background:

Prosper and Martine Assouline’s business began with a passion project: A book dedicated to their love for La Colombe d’Or, a boutique hotel in the South of France; Martine produced the images and Prosper was responsible for the text. But since publishing that first title 30 years ago, Assouline Publishing has gone on to capture the history and visual memory of places like Ibiza and Jaipur, industry icons such as Estée Lauder and Valentino Garavani, as well as fashion houses like Saint Laurent and Louis Vuitton.

“The idea was to make a book about the spirit of a place … to mix the past, the present, the people, and all the DNA,” says Martine.

“I always say to my team in the art department that when a book is finished, we need to start it … You think it’s finished but it’s just beginning,” says Prosper.

This week on The BoF Podcast, founder and editor-in-chief Imran Amed sits down with the Assoulines to learn how this fixture of fashion publishing was born and how they intend to maintain that original creative spark while growing it into a global lifestyle business.

Key Insights:

• While Assouline may be a leading luxury publishing house today, Martine and Prosper were outsiders without prior experience or contacts in this world. They had to learn along the way. “We learned that it was a real job. A real industry, a club where everyone knew each other,” said Prosper Assouline. “We learned while doing - everything,” added Martine.
• Prosper Assouline says the process of creating a new book is architectural and the magic lies in the details. “We didn’t just want to do books because Amazon is full of proposals and other publishers are full of proposals.”
• For Martine, the continual consumption of culture and arts is a key ingredient in Assouline’s secret sauce. “You have to eat culture. You have to go to a museum. You have to see films of today, of yesterday. You have to look at magazines, hear music, all kinds of different books. It’s very important.”
• In the Assoulines’ view, what they’re doing is much bigger than simply publishing books. “The idea was not just to make books, it was to create a luxury brand on culture,” said Prosper Assouline.
• Looking towards the future, the luxury publishing house is narrowing its focus on lifestyle. “Lifestyle is the project. It’s our way to live and work, it has always been our direction,” said Martine Assouline.

Additional Resources:

On Sunday, Puig filed to go public in Spain, betting that an infusion of capital and the “checks and balances” of a listed company structure will unlock the next phase of growth at the fragrance and cosmetics giant.

In fashion, many brands and retailers are coming to the opposite conclusion.

This week also saw Macy’s end its proxy fight with a pair of activist investors, appointing two of their slate of nominees to the department store operator’s board. The new directors will sit on a committee to evaluate the activists’ $6.6 billion takeover bid.

Macy’s wasn’t the only company contemplating going private. Austrian billionaire Reinold Geiger is reportedly lining up potential lenders and investors, including the private equity giant Blackstone, to acquire L’Occitane (Geiger is already the beauty conglomerate’s controlling shareholder).

There’s more: The Nordstrom family is reportedly mulling taking its namesake department store chain private. Italian shoemaker Tod’s is planning to delist from the Italian stock exchange, eliciting the help of L Catterton, LVMH’s investment arm, which agreed to buy 36 percent of Tod’s shares in February. Struggling direct-to-consumer brands like Allbirds, which recently received a notice from Nasdaq that it would be delisted if it can’t raise its share price, are among other potential takeover targets.

The circumstances are different at each of these companies. But the motivation for going private is often the same: a belief that it will be easier to turn around a struggling business away from the scrutiny of the public market. Tod’s owners said in a statement in February that going private would grant the company “greater management and organisational flexibility, with faster decision-making and execution times.”

There’s some truth to that. Turning around a fashion business requires commitment, patience and finesse, qualities that few investors possess. For a public company, a couple disappointing quarters can derail a meticulously planned five-year strategy. Family-controlled companies think in terms of generations, not quarters (at least until the heirs get antsy for a payday). Rather than cashing out when the going gets tough, these owners have the type of vested interest in the long-term success of their companies necessary for gruelling, high-risk turnarounds.

The ultimate example of this line of thinking is Levi’s. The American denim brand went public in 1971, but during a challenging period in the mid-1980s was taken private again in a leveraged buyout that gave control back to the Haas family, descendants of founder Levi Strauss. As a private company, Levi’s steadily scaled, and three decades later, the Haas family were able to cash out their shares in an $8 billion IPO.

But there’s a reason we’re reaching back to the 1980s to find an unqualified success story. There are plenty of downsides to going private. Leveraged buyouts, by definition, saddle a company with a mountain of debt. Look at what happened to J.Crew and Neiman Marcus, both of which went through a lost decade after being acquired by private equity firms in the aughts and 2010s. Both filed for bankruptcy in 2020, though they seem to be on better footing today under the ownership of their former creditors.

A public company, by contrast, can be pressured into jettisoning bad management and operating at peak efficiency; Abercrombie & Fitch is one recent example.

Like Sears’ hedge fund owner, Eddie Lampert, Macy’s prospective buyers may not be interested in reviving a storied name at all. Its current pursuers, Arkhouse Management and Brigade Capital, have a history in real estate, not retail. It’s widely assumed that their priority is to monetise the company’s real estate; what that means for the current revamp under chief executive Tony Spring, who assumed the top role just two months ago, is unclear.

Ultimately, going private won’t solve the problems facing Macy’s, Nordstrom, Allbirds or L’Occitane. But for some at least, it may be the best chance they have.

THE NEWS IN BRIEF

FASHION, BUSINESS AND THE ECONOMY

Macy’s appoints two new directors ending a proxy contest with Arkhouse. The appointments of Richard Clark and Richard Markee as independent directors also resulted in Arkhouse withdrawing its board nominees. They will join the board’s finance committee, which in addition to its existing responsibilities, will oversee the evaluation of the proposal from Arkhouse and Brigade.

Allbirds receives a six month notice to raise its stock price. The embattled sneaker must trade at more than $1 for at least 10 consecutive days or risk being delisted. Allbirds’ share price has plummeted more than 90 percent since its IPO in November 2021.

Chanel eyes NYC Fifth Avenue tower that LVMH is also targeting. Chanel is in discussions to buy 745 Fifth Ave, joining the competition among the world’s top retailers to snap up spots on New York’s iconic luxury shopping corridor. LVMH Moët Hennessy Louis Vuitton SE has also been in talks to acquire the building at the corner of 58th Street.

Rent the Runway eyes record jump as earnings spark revival hope. The stock surged as much as 226 percent in intraday trading Thursday after the company reported fourth-quarter revenue and adjusted earnings that beat Wall Street expectations. The quarterly report was a breath of fresh air for the company after investors had mostly given up on it.

Nike pins hopes on Olympics to win back market share. Nike unveiled Olympic kits for the teams it sponsors on Thursday alongside athletes including Kenyan marathon star Eliud Kipchoge and British sprinter Dina Asher-Smith. The brand is hoping that Olympians breaking records in Nike gear could help push more shoppers to the label, which has seen slowed sales growth.

Korean fashion e-tailer Musinsa posts $733 million in annual revenue. EBITDA for the year surged 15.9 percent to $61.9 million from $53.4 million in 2022. Musinsa’s net profit reached $26.2 million from a net loss of $4.9 million in 2022.

Zara owner Inditex demands clarity from cotton certifiers accused of standard breaches. NGO Earthsight informed the retailer that producers with Better Cotton certifications were involved in land grabbing, illegal deforestation and violent acts against local communities. Inditex sent a letter dated April 8 to Better Cotton CEO Alan McClay asking for clarity on the certification process and progress on traceability practices.

Fashion Trust US announces second round of winners. The two-year-old organisation selected fashion designer Batsheva Hay of Batsheva for its sustainability work; Charles Harbison of Harbison Studio was awarded the ready-to-wear award and Ashley Harris of Don’t Let Disco won a prize for inclusivity. Winners received grants that totalled at nearly $500,000 across the six awards.

Rolex CEO says comparing watches to stocks is dangerous. Secondary market watch prices have fallen sharply in the past two years amid weaker economic growth and higher interest rates. Jean-Frédéric Dufour said the strong value of the Swiss franc against other currencies is also adding to pressures on the industry.

THE BUSINESS OF BEAUTY

Puig aims to raise €2.5 billion in IPO. The family-owned premium beauty conglomerate has confirmed it will float shares on the Spanish stock exchange while retaining majority control. In 2023, Puig reported net revenues of €4.3 billion ($4.6 billion), up 19 percent, while net profit rose to €465 million ($503 million), up 16 percent on the previous year.

Blackstone nears buyout of skincare company L’Occitane. The world’s largest alternative asset manager may provide debt financing for the buyout. Trading of L’Occitane was suspended in Hong Kong on Tuesday, pending announcement related to takeover codes.

Neutrogena is closing its Los Angeles office and laying off staff. Closing the office is part of parent company Kenvue Inc.’s effort to boost growth and improve collaboration, according to a spokesperson for the company. The closure is resulting in 84 layoffs, 74 have been offered relocation and employment at other company locations.

Picky consumers jilting big brands are Unilever India’s new risk. India’s elite classes are becoming pickier consumers, fuelling the success of organic personal-care brands backed by slick social media marketing campaigns. The company’s challenges mirror those of other consumer-goods giants, such as Procter & Gamble Co., L’Oréal SA who have had to acquire the niche brands taking market share from their in-house businesses.

UK’s antitrust authority issues price-fixing warning to nail technicians. The Competition and Markets Authority has issued an open letter to nail technicians after a campaign called National Nail Tech Price Increase Day began to gain steam online. More than 5,000 technicians came together as part of the campaign to raise their prices on Monday.

CDC reportedly investigates several cases of illnesses from botox injections. Health officials in Tennessee and Illinois this week said they were investigating cases of botulism-like illnesses that appeared connected to Botox injections received in a non-medical setting. There were four patients in Tennessee who reported symptoms that aligned with botulism after receiving cosmetic injections and two were hospitalised.

PEOPLE

Gucci hires deputy CEO to bolster turnaround efforts. Stefano Cantino joins from Louis Vuitton, where he held the role of marketing chief and oversaw the brand’s sprawling communications apparatus. The appointment comes at a pivotal moment for Gucci as Kering attempts to revamp the brand’s image.

Salomon president and CEO Franco Fogliato steps down. Fogliato will depart the brand effective immediately due to personal reasons. James Zheng, Amer Sports’ chief executive, will lead Salomon on an interim basis, the company confirmed.

Louis Vuitton taps Wieden+Kennedy veteran to lead communications. Advertising executive Blake Harrop is set to join Louis Vuitton as executive vice president, image and communications. In his new role, Harrop “will enable us to reach new heights, further contributing to strengthening the desirability of Louis Vuitton,” chief executive Pietro Beccari said.

MEDIA AND TECHNOLOGY

Three films produced by Saint Laurent selected for Cannes Film Festival. The three films are: “Emilia Perez,” by Jacques Audiard, starring Zoe Saldana and Selena Gomez; David Cronenberg’s “The Shrouds,” starring Vincent Cassel; and “Parthenope,” directed by Paolo Sorrentino. The deciding jury will be chaired by Greta Gerwig.

Compiled by Yola Mzizi.

Welcome back to Haul of Fame, the weekly beauty roundup of new products, new ideas and at least one Real Housewife.

Included in today’s issue: Beia, Byoma, Davines, Indeed Labs, Juliette Has a Gun, Hourglass Cosmetics, Killian Paris, Make Beauty, Ogee, Olive & June, Oscar de la Renta, PLA, R.E.M. Beauty, Smashbox Cosmetics, Solawave, Typology Paris, Urban Outfitters, Zizia Botanicals and strawberry soda.

But first…

Every few days, somebody tells Lisa Rinna to sit down. “They’d never say it to my face,” says the 60-year-old TV queen. “But I’ll get DMs and messages saying, ‘Why don’t you just let your daughters take over? Why are you still here?’ And the truth is, I’m here because my friends and I are the ones who have the money!” she exclaims. “We are still so viable. We feel great. And it’s a problem in the consumer marketplace that women over 40 aren’t being seen as sales drivers and trendsetters, even though we so often are.”

Rinna was a soap opera veteran for years, but the California native gained new fame as a Real Housewife in 2014. She launched her personal care brand, Rinna Beauty, in 2020. By 2021, it was reporting $10 million in sales, with a public investment by UTA Ventures, the celebrity-fuelled capital fund that also counts Chamberlain Coffee (by Emma Chamberlain) and Cameo as portfolio-mates. Rinna confirms her brand is still “proudly profitable, thank god,” and growing into new categories.

Example: This week, it drops Bright Eyes, a line of cooling under-eye patches. “I’ve used all the [other] brands,” Rinna says from her home in Los Angeles. “I was determined to create one that’s not slimy! It feels cool; it doesn’t slide down your face; it works.” Rinna tested six prototypes before settling on her version, which costs $28 and includes Erewhon-friendly ingredients like red algae and carob in the formula.

The launch is a toe-dip into skincare for Rinna, who isn’t shy about discussing her cosmetics procedures. “Actually,” she concedes, “I think they’re the greatest things ever. Joan Crawford and Bette Davis didn’t have this technology at their fingertips. It’s brilliant we now have a choice in how we age.” Still, she cautions younger women to be sparing with their medi-spa moments: “If I’d known then what I know now, I’d say be careful with the lasers, be careful with the acids and stuff. Do less than you think you need, because if you start doing [procedures] too young, you’ll actually look older!”

Is this a brilliant line of thought to sell topical skincare to 30- and 40-something fans of Rinna? It is. But it’s also the true observation of a woman with two Gen-Z daughters — Delilah Belle, 25, and Amelia Grey, 22 — who are stunning enough to be runway models, but still human beings caught in the impossible trap of modern fame, which demands expansive demonstrations of self-love and near-imperceptible attempts at self-promotion, often in the exact same TikTok frame.

Rinna has thoughts about that, too: “I think social media and [augmented reality] filters have really [messed] everybody up,” she says. “I feel very sorry for the kids that are growing up in this day and age and having to have phones and social media. It’s a double-edged sword that’s mostly very sharp and very cutting … but I understand that Instagram is also a tool, you know? It is what it is. I enjoy spreading joy on it, and I’m lucky I get to do that … I’m lucky I get to keep moving the needle and showing women that they can be amazing at 60 … But I have to be really clear-eyed about it, because it’s good and bad.”

As for being clear under-eyed, Rinna would point to her website. The new patches are available now.

What Else Is New?

Skincare

Would you put an LED light on your breasts? Solawave’s new Neck and Chest Rejuvenating Mask rolled out on Apr. 9, with “red and near-infrared light therapies to target the neck and decolletage, where wrinkles, creases and dark spots often appear.” Honesty, I would try it… once, anyway.

Indeed Labs has hit CVS in a big way, launching six products in 2700 doors. Their offerings include Nanoblur skin cream and Snoxin II, which is a topical “facial line fighter” they claim is on par with injectables. (I will stick with my injectables, but perhaps that’s because I secretly love needles. Another column, another therapy session, etc.)

If you’re one of those people who’s glued to your Ulta app, you may have noticed the stealth appearance of R.E.M. Beauty’s first under-eye balm on Apr. 3.

Do people take bubble baths anymore? Zizia Botanicals is thinking “sure” and they’ve released a Silky Forest formula with “therapeutic” atlas cedarwood, hinoki, and cypress extracts.

Beia released a Bikini + Body scrub on Apr. 11, which makes it easier to scrub away minor ingrown hairs and red bumps. It includes green tea extract, which is high in antioxidants. If you’re young and broke, I recommend taking a still-warm green tea bag and compressing it directly on your razor bumps instead; the rest of you can pay the $38.

Also on the green tea beat: On Apr. 11, Ogee introduced Clearganics, a green dropper serum for zits with the tea, plus 0.5 percent salicylic acid, raspberry and frankincense. (Can I make a “holy water” joke here, or are biblical resin gums not that funny? If you grew up going to church, please advise.)

Typology Paris made a new Anti-Redness Face Cream on Apr. 8 for rosacea and skin that’s prone to redness and irritation. It comes in an old-school metal tube like many French pharmacy ointments, but contains modern fixes like Niacinamide and Azelaic Acid.

Hair Care

Eco-sensitive Italian label Davines quietly rolled into Target on Apr. 6. This might be the first time the superstore has used the words “regenerative soil” and “shampoo” in the same blurb. I like it.

PLA’s Lash & Brow Rehydrate and Restore Serum hit shelves on Apr. 4. It claims to help regrow over-tweezed brows and thicken lashes; it also includes marshmallow serum, which is a calming agent.

Cosmetics

On Apr. 9, Laura Gellar gave us a reason to tell the truth about our age: Her site’s “OK Boomer” campaign with comedian Leanne Morgan includes a promo for anyone over 40. To celebrate, head to her site through Apr. 16 and get an age-based discount if you’re 40 or older. If you’re 50, you’ll get 50 percent off everything; if you’re 60, it’s 60 percent off. The discounts go all the way up to 80 percent for octogenarians, which means if Martha Stewart (82) needs new mascara, she’s in for a very good deal.

Make Beauty is going big with their first liquid eyeliner. It appeared on their site on Apr. 9 and came in 13 shades, including traditional black and grey, along with aqua, yellow, lilac and a deep maroon.

Brands are going to the matte. On Apr. 7, Smashbox Cosmetics debuted a version of its best-selling Photo Finish Resurface Primer with glycolic acid to “boost cell turnover” and (hopefully) brighten skin while it blurs pores. Also on Apr. 7, Hourglass Cosmetics launched its Vanish Airbrush Pressed Powder. It is “clinically shown to instantly reduce shine,” but all you need is a mirror and not a physics degree to decide for yourself.

LYS Beauty dropped two new shades of their No Limits Cream Bronzer Stick on Apr. 10, bringing the total hue count up to seven … and the total TikTok view count up to about five million.

Do we need a separate “gloss roundup” in every issue now? Fine: Byoma unveiled a Lip Tide lip oil on Apr. 12 with a “glossy flush” formula exclusive to Ulta.com. R.E.M. Beauty’s new Essential Drip Glossy Balm debuted on Apr. 9, with six colours including two — cherry cola and strawberry soda — named for fizzy drinks. Somebody get Ari an Aarke machine!

Fragrance

Killian Paris embraced their Sunkissed Goddess scent on Apr. 2. The fragrance includes monoi oil, a Tahitian gardenia extract that’s both aromatic and nourishing for dry or sunburned skin. So many perfumes are touting mental health benefits right now; it’s neat to see one that’s more focused on a physical ailment.

Juliette Has a Gun introduced a new Eau de Parfum on Apr. 6 that’s heavy on dark cherry and Cashmeran notes. It’s simply called Juliette, which is kind of a relief, because although the fragrances themselves are gorgeous, the word “gun” is no longer an edgy joke amongst American girls.

On Apr. 9, Oscar de la Renta dropped three new scents in their Alibi collection: Eau So Charming, Eau So Chic, and Eau So Lucky. Each boasts a mix of cheery floral notes, and the packaging is super-cute. The thing is, ODLR creative directors Laura Kim and Fernando Garcia aren’t cute, they’re cool, and so are their clothes. I wonder what kind of magic a fragrance that directly connects with their own vibes would bring.

Nails

On Apr. 4, Olive & June dropped three topcoats, including iridescent and gold shimmer and one sparkly flake called “Fairy.” Clearly, I must own this at all costs. Fortunately, the actual cost is $7.50.

And Finally

I know we said that sex care could be the new skincare. Still, your reproductive areas do not need a sheet mask, even if it’s packaged perfectly and you can grab it along with your Polaroid film at Urban Outfitters.

It’s Puig’s time.

After months of speculation, the 110-year-old, family-owned conglomerate on Monday announced its plans for an initial public offering on the Spanish stock exchange. The company hopes to raise €1.25 billion ($1.3 billion), followed by a larger share sale that would bring the total fundraising north of €2.5 billion ($2.7 billion). It reportedly expects a valuation of €8 ($8.5 billion) to €10 billion ($10.7 billion), which would put it in the same range as Coty and Shiseido.

For Puig, the timing to go public couldn’t be better. In March, the company reported 2023 results of €4.3 billion ($4.6 billion), all but ensuring it is on track to hit its goal of €4.5 billion ($4.8 billion) in annual sales by 2025 well ahead of schedule. Earnings before interest, taxes, depreciation, and amortisation rose 33 percent to €849 million ($925 million).

“Puig is on the right side of the luxury reset after the pandemic, and the appetite for profitable growth stories is very strong in Europe even more than the US,” said Navina Rajan, senior private capital analyst for the Europe, the Middle East and Africa markets at PitchBook.

The Spanish conglomerate has been one of the most exciting firms to watch over the last several years, transforming itself from being known primarily for licensing fragrances from luxury brands, to a diversified portfolio that includes cosmetics and skincare. Puig has made the right bets on some of the buzziest lines in market today from Charlotte Tilbury (2020) and Byredo (2022) to Kama Ayurveda (also 2022) and the recently acquired Dr. Barbara Sturm. And that M&A activity is not expected to slow. Today, the company’s portfolio includes 14 owned brands.

Though fashion and fragrance remains a high point for Puig — growing by 17 percent in annual results thanks to the success of best sellers like Rabanne’s 1 Million fragrance and Carolina Herrera’s Good Girl perfume — skincare is the firm’s fastest growing segment and makeup continues to perform due to Charlotte Tilbury.

Makeup and skincare will be key focus areas for Puig to build out. Following the success of the Rabanne fashion line and 1 Million, the company made an ambitious bet last August with a cosmetics launch, complete with lipsticks, glitter sprays and metallic serums that smartly tie back to its space age luxury arm. And Charlotte Tilbury has been a stealth winner in skincare as well thanks to hybrid hero products like its Water Cream.

“They’re extremely disciplined, extremely targeted, and they have a very deliberate strategy,” said Elsa Berry, founder and managing director of Vendome Global Partners, which advised on Dries Van Noten’s sale to Puig in 2018. “They have brands that are highly complementary across the prestige, premium beauty space, and none of them cannibalise the other.”

Because of its diversification, I, too, think Puig will fare better than many of the other fashion and beauty companies that have gone public in recent years. Often they were built around a single brand, some great (Birkenstock, Olaplex) and others less so (The Honest Company). Going public with a portfolio of brands is a far superior move to being a monobrand company when consumer and market preferences change (the exception being E.l.f. Beauty, which has also pursued a house of brands strategy as of late). Though conglomerates with successful mass and masstige lines or strong niche fragrances have been faring better today, beauty remains cyclical.

My one question for Puig is around succession. The company has been family-owned and run for over a century. Chief executive and chairman Marc Puig Guasch is the third generation to lead the company, and clearly, the firm values founders in its acquisition strategy — Tilbury, Sturm and Byredo’s Ben Gorham have all stayed with their brands post purchase. But with the recent news of fashion designer Dries Van Noten leaving his namesake label after his menswear show in June, (Puig purchased the brand six years ago), it is something to consider as it charts its next phase of growth.

“Typically, you don’t see family owned businesses be as bold, but Puig has been very clear with the plan they have in mind and it continues to work in their favour,” said Ariel Ohana, managing partner at investment bank Ohana & Co.

An IPO enables Puig to better compete globally with other big beauty houses like L’Oréal and the Estée Lauder Companies. And with the latter’s M&A ambitions seemingly stalled, Puig becomes the next obvious acquirer in many cases.

There are some fears that luxury firms’ are slowing down post pandemic and beauty stocks aren’t as resilient as they once were. Ulta Beauty scared the market with its grim outlook, even causing E.l.f.’s stock to pause its seemingly never-ending climb. But even with negative market signals, beauty stocks have fared well in good times, been resilient in bad times and preserved their margins — and Puig’s financial profile is one that’s outperforming the category. With €2.5 billion in capital, the company can only realise its lofty beauty ambitions even faster.

Here are my top picks from our insight and analysis on beauty and wellness this week:

1. The Death of the Detox

Gen-Z are not into all-or-nothing health practices — the hallmarks of wellness that have become cornerstones. What’s left is something far more subversive.

2. Beauty Reviews Were Already Suspect. Then Came Generative AI.

The technology is making it easier than ever to create fake reviews, creating more risk of shoppers being taken in by bogus testimonials.

3. Estée Lauder’s Big New Skincare Bet Is Like The Ordinary – at Six Times the Price

Deciem’s other skincare brand, NIOD, also sells serums with names straight out of a lab, but with more complex formulations and higher-spec packaging. A decade into the science-backed skincare craze, the company believes its consumers are ready to move upmarket.

THE BUSINESS OF BEAUTY NEWS IN BRIEF

Blackstone nears buyout of skincare company L’Occitane. The world’s largest alternative asset manager may provide debt financing for the buyout. Trading of L’Occitane was suspended in Hong Kong on Tuesday, pending announcement related to takeover codes.

Neutrogena is closing its Los Angeles office and laying off staff. Closing the office is part of parent company Kenvue Inc.’s effort to boost growth and improve collaboration, according to a spokesperson for the company. The closure is resulting in 84 layoffs, 74 have been offered relocation and employment at other company locations.

UK’s antitrust authority issues price-fixing warning to nail technicians. Competition and Markets Authority, has issued an open letter to nail technicians after a campaign called National Nail Tech Price Increase Day began to gain steam online. More than 5,000 technicians came together as part of the campaign to raise their prices on Monday.