Finding luxury a reason to live | Advantage social
February 22, 2011 Leave a comment
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While China continues to warm the cockles of the heart of many a luxury goods vendors/ retail chain and even super luxury accessories and auto brands, growing markets in them to the tune of 25% p.a making now a significant part of the global markets in luxury..the Americans are still getting a lot of attention from high-end goods retailers and cosmetics manufacturers. In the just gone holiday season teenage specialists a had scored pretty well in the shopping carts and maybe L’Oreal would thus even target the not so young kids that are seen splurging across US stores.
L’Oreal has committed itself to growth across the pond with its One Billion new consumers unlike the P&G guys targeting China and India. The Body Shop already has quite a few upmarket outlet locations in the US, pride of place in Chicago and JFK airports, and that big place in the Irvine sky, among others. L’Oreal in fact might not even push Lancome or its pro products matrix and Redken, with new CMO Speichert looking at white space opportunities
As quoted by Warc from the Adage Speichert interview: “We continued to aggressively spend media specifically. We’re now seeing a very nice kind of return on that investment,” said Speichert. “We very aggressively continue to spend on R&D as well, so a lot of the products that we are launching right now were fine-tuned in those tougher years.”
Print media, especially magazines, have typically generated considerable income from cosmetics, perfume and other brands keen to engage female shoppers, and Speichert stated this has delivered sustainable results.
L’Oreal is also in the middle of a novel endorsement campaign with blogger Michelle Phan undertaking to use the L’Oreal videos and the resulting videos getting 2-2.5 million hits per segment/clip
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