SharkNinja to Introduce Skincare and Light Therapy Products in Bid to Expand Beauty Market Presence – ChannelNews

Shark Ninja, known for its blenders and vacuums, is expanding into the health, beauty, and wellness market with plans to introduce skincare light therapy devices and power-operated skin brushes. Patents suggest further growth into electric hair styling tools, shavers, and oral care to target a younger demographic and boost profit margins.

The company is also entering the outdoor equipment market, challenging brands like Yeti with new cooler products. R&D spending increased by 18.5% to $69.6 million to support these expansions.

Shark Ninja’s financial performance is strong, with net income rising to $117.8 million (83 cents per share), surpassing analysts’ expectations. Sales grew to $1.22 billion, driven by product diversification. Despite retail challenges, Shark Ninja aims for an 11-13% sales increase, focusing on consumer demand for home investments.

To reduce tariff impacts, Shark Ninja is diversifying its supply chain, aiming for minimal exposure to China and none to Mexico and Canada by fiscal year’s end. CEO Mark Barrocas emphasizes balancing consumer spending priorities amidst economic pressures.