Lynn Tilton, who recently took over as CEO of luxury make-up brand Stila, recently announced plans to introduce an inexpensive line called Simply Stila to help consumers look great during the credit crunch. It’s obvious in pretty much every industry that consumers are being quite a bit more frugal with their cash, so this is a no-brainer move by Tilton and Stila.

According to Tilton, “I’ll be creating a new mass line, called Simply Stila. Of course this won’t be a $2.99 brand, but we think we can definitely retail for, say, $7.99 or $8.99. My dream for Stila is to become a base for a larger cosmetics platform. It is right out of the gates at this point, but everything we are doing is with the consumer in mind. It’s all about reaching the consumers, especially in this economy. We want to reduce the middleman and retailers and go directly to the consumer.”

Meanwhile, Lynn says the main collection - which has a host of celebrity fans, including Katherine Heigl, Kate Hudson and Lindsay Lohan - is going from strength to strength. “It has a great name, it is a superb brand and it has a tremendous talent pool. My favourite Stila product is the Bronzing Tinted Moisturizer, I think! Although everyone asks me that question I’m still getting to know Stila. I also love the 24k Lip Gloss and I use the Smudgepots all the time on my eyes.”