Photo Credit: Google

Over the last few years, the multi-billion dollar nail polish market has grown exponentially and currently has no signs of slowing down. With discretionary spending down due to economic volatility, women want more affordable options and opportunities to indulge themselves without breaking the bank.

Thus, a star industry was (re) born, making nail polish and all of its accoutrements a must-have fashion accessory.

Now, with new polish brands and categories (gels, magnetics, adhesives, etc) launching almost daily, it’s easy for consumers to get overwhelmed with so many new options to choose from. Which is why we wanted to highlight nail polish companies that are owned by African-American women.

Keep clicking to learn about the African American-owned nail polish companies that should be on your radar.

nailart.vn

Consumer spending may be down, money may be tight and monthly budgets strict, but one thing the ladies aren’t taking out of their beauty regimen is a manicure. VOA News reports that while other US businesses are slowing down in a weak economy, women are spending more on their nails. And these professionally fly women aren’t just getting a light pink coat or even a bright shade of red; they’re going all out with blues, greens and animal prints.

“It’s tremendous. I mean our sales have been double digit growth for the past five years,” Suzi Weiss-Fishmann, the executive vice-president and artistic director of OPI said to VOA News. Based north of Los Angeles, OPI distributes nail polish to women in over 100 countries around the world.

“You can really be kind of that conservative professional and wear blues and greens and any color and dark shades year round,” she reveals.  In addition to bright nail colors, women are also experimenting with nail art. The trend has been popular in Japan for about a decade, and has steadily been picking up speed in the US.

“Nail art is really for every woman. It’s like the new lipstick. Everyone is using their nails as their accessory,” said The Naja, a creator of 3-D nails. The Naja makes her products stand out by using unusual ordinary objects to create her designs, including hair extensions, paper clips and staples. And her business is booming.

“I actually have made more money than I ever have the entire time of the recession,” she said.

So why are women spending more on nails in the midst of tight economic times? The real question is, why not? When you only have $5 or $10 to spare, it’s much easier to splurge on a nail polish or an affordable pedicure than something a bit more costly.

Take it from college student Kathryn O’Sullivan. As she tells VOA News, “If you’re trying to get a new outfit or a new accessory or something, it’s probably going to be more expensive but you can just spice up your look with the nail polish thing, with these things, for a way cheaper price.”

More on Madame Noire Business!

• Behind the Click: Ashley Baxter, Digital Marketing Manager for J.C. Penney
• How She Made It: Alia Jones-Harvey, Producer of A Streetcar Named Desire
• Why African Philanthropists Are Calling For Africapitalism
• Will Scandal’s Success Pave the Way for More Diverse Images of Black Women?
• How She Made It: Jeri Lynne Johnson, Founder of Black Pearl Chamber Orchestra
• Entrepreneur Spotlight: A Sister-Run Business Brings High-End Tea Stateside