Julius Kelly
Los Angeles, CA (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Nilo Nails
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Startup
Location:
Los Angeles
Industry:
Apparel
Year Founded:
2007
Number Employees:
50-100 people
Description:
In 2007, the U.S. nail salon services industry, having grown 60% since 1993, is worth over $6 billion. Despite this unprecedented growth and resilience during economic slowdowns, the nail industry continues to rely primarily on human labor to deliver services. While technology has dominated and revolutionized most industries in the last decade, the nail industry has witnessed little innovation in terms of technological advancements.
Although nail art services are being offered by more than 78% of nail salons in the United States, awareness about digital nail fashion technology for precision art and nail polishing is incredibly low. However, statistics and studies reveal that salons are willing to upgrade their nail services if offered a choice. Additionally, market trends indicate the consumer interests in nail art has more than tripled from 2006-2009. In recent years interests has also been shown by retail giants such as Wal-Mart, Target, and specialized beauty retail corporations such as Elizabeth Arden prove that the true potential of the market is yet to be realized.
NILO Nails (“NN”) is one of the first American companies to introduce state-of-the-art, easy-to-use digital nail fashion technology into an industry dominated by human labor for decades and is primed for change. Its Nail Impression Lithographer (NI´LO) system can print photo-quality digital imagery or millions of colors as polish on any fingernail surface in seconds. The NI´LO does not cannibalize human labor in nail salons; instead, it enhances a nail technician’s potential income. In fact, in 2007 with over 350,000 nail technicians in the U.S. market, the average revenue was approximately $17,600, indicating a much needed industry overhaul. NN will offer training and nail fashion informational videos online as well as offer training courses through partnerships with beauty colleges. In essence, NN will expand a relatively mundane and static industry through the introduction of a novel and spectacular technology.