I swear the beauty industry keeps getting more interesting. Take these still shots above from the Color Creativity video featured on Chanel's beauty webpage here. The reinterpretation of the iconic design of Chanel beauty products is...well, fun!
It makes sense that Chanel and other luxury brands are similarly increasing their point-of-view (and often investment) in beauty to entice consumers in new and innovative ways:
- Beauty can be a huge revenue generator to brands (as it is for Chanel and Dior) and has higher margins than fashion.
- Beauty as entry-level priced products allows everyone to become part of a luxury brand's often aspirational world.
- Once a consumer has been introduced to a luxury brand through beauty, a brand can then cross and up-sell to higher price point items.
- Apart from fragrance, which is a highly fragmented market with low brand loyalty, make up and skincare are high on brand loyalty. Think about it. Once you find a concealer, blush or even a mascara that works for you, you repeat buy.
So much more to say on this topic but I thought I would split it into two posts. More beauty insights to come in the next post, LUXURY 360 - THE FUN OF BEAUTY PART 2.