Shark Ninja is expanding beyond its kitchen and home products range with the Company now looking for more share in the health beauty and wellness market.

The company, recognized for its blenders and vacuums, is now focusing on skincare, with plans to introduce light therapy devices and power-operated brushes for skin cleansing and exfoliation.

Analysts have identified multiple patent filings pointing to this new direction.

The company’s strategy includes launching at least one new product category annually, according to CEO Mark Barrocas.

A popular brand at JB Hi Fi and The Good Guys, new patents filings suggest Shark Ninja is working on an electric hair styling iron, with potential expansions into shavers and oral care. William Blair analyst Phillip Blee believes the move into beauty could expose Shark Ninja to a younger demographic and improve profit margins.

Though Shark Ninja declined to comment, its rapid product development approach—based on continuous consumer feedback—allows it to quickly bring new innovations to market and capture market share where opportunities arise. Jefferies analyst Randal Konik sees strong potential in the beauty segment, pointing out that the brand has already built credibility with its hair styling tools.

Shark Ninja is also expanding into outdoor equipment, with its first cooler product selling out entirely, positioning the company against established players like Yeti. Its first-quarter research and development spending rose 18.5% year over year to $69.6 million, driven by an increase in staffing to support new product categories and market expansion.

Following strong quarterly sales, Shark Ninja has raised its fiscal 2024 forecast, reinforcing its commitment to innovation across its core product segments. The company continues to explore new markets while maintaining momentum in the sectors it already dominates.

Management at Shark Ninja  claim that consumers will still spend despite retail turbulence, but decisions may be tougher at a time when prices are expected to rise in response to tariffs.

In the January-to-March period, Shark Ninja recorded net income of $117.8 million, or 83 cents a share, up from $109.6 million, or 78 cents a share, in the prior-year period.

Stripping out certain one-time items, earnings came in at 87 cents a share.

Analysts polled by FactSet had expected 73 cents a share.

Sales increased to $1.22 billion from $1.07 billion, which the company said resulted from growth across each of its four major product categories. Analysts polled by FactSet had expected $1.17 billion.

“We’re going to have to earn every hard earned dollar from them and they’re going to have to make tough decisions,” Chief Executive Mark Barrocas told the Wall Street Journal.

“Those decisions might be trade-offs between, do I go out to dinner twice or do I buy this Ninja product for $199?”

“I do think that in times like this, the consumer tends to hunker down, but they do invest in their home,” added Barrocas.

Shares rose 9.3% to $88.74 as their latest results were announced.

The stock is down about 8.6% on the year.

The Company is also looking to grow sales between 11% and 13%.

Shark Ninja claim that they have diversified its supply chain with an emphasis on limiting exposure to China after navigating tariffs under the first Trump administration.

Barrocas has previously said Shark Ninja should have virtually no exposure to China by the end of the fiscal year, and that it has no exposure to Mexico and Canada.