Mike Durso’s Post

A interesting study I reed today #Data Strategic Moves in the #Beauty #Industry 🌟 As the tides of #War and #Recession , #LVMH cosmetic jewel, #Sephora, has carved out an enviable position. With an astute understanding of consumer behavior, Sephora rode the "lipstick effect" to an impressive $15.4 billion revenue, as shared by CEO Guillaume Motte with The Financial Times. Amidst economic fluctuations, this phenomenon – where consumers indulge in affordable luxuries – has propelled Sephora to become LVMH’s third-largest brand, trailing only the iconic #LouisVuitton and #ChristianDior This success story isn't just about beauty products; it's a masterclass in agility and market acumen. In the world of luxury and cosmetics, while one beauty giant takes a bold step forward, another adjusts its strategy, leading to a fascinating dance of business maneuvers. Sephora’s trajectory is a testament to that, showing that with the right insight and innovation, targets aren’t just met; they’re exceeded ahead of time. As professionals, let's take note of Sephora's strategy. Whether it’s the allure of a lipstick or the promise of a skincare routine, understanding customer inclinations can lead to substantial growth, even in times when purse strings tighten. Keep an eye on the beauty sector; there’s much to learn about the art of resilience and the science of consumer delight. #BeautyIndustry #BusinessStrategy #LVMH #Sephora #ConsumerBehavior #LipstickEffect #Innovation #LuxuryBrands #Startup #India, #asia #singapore #Innovation, #Management, #HumanResources, #DigitalMarketing, #Technology, and #creativity

🌟 Have you heard of the "Lipstick Index" coined by Leonard Lauder? 🌟 Despite economic uncertainties, the beauty industry continues to show impressive resilience. Sephora recently announced a record sales year, reporting an astounding €86.2 billion in revenue and €22.8 billion in profit. This success is attributed to strong organic growth across the majority of its business units. Prestige beauty sales outpaced mass-market beauty sales in Q1 2024. Prestige beauty sales grew by 9%, compared to a modest 2% growth in the mass-market segment. This shift suggests that even in challenging economic times, consumers are gravitating towards luxury beauty products. The beauty industry remains vibrant and adaptable, reflecting a deeper consumer preference for high-quality and premium experiences. 🌹💄✨

#Perfume Market Envisions Notable CAGR Growth in the Years 2023–2032 https://lnkd.in/d2hTZrSM As disposable income around the world continues to rise, consumers are increasingly able to afford #luxury #goods such as #perfume which has pushed the #demand for high-end #fragrances. The endorsement of fragrances by celebrities and designers has led to an increase in their popularity. The Avon Company CHANEL Coty LVMH The Estée Lauder Companies Inc. Revlon Puig Shiseido Givaudan Hermès Kering #Perfume #consumer_goods_and_service #business_opportunities #marketanalysis #marketresearch #opportunities #business #future #perfume

This week's key headlines in beauty:   🔸Reliance Retail Ventures acquired the rights to operate SEPHORA in India from Arvind Fashions 🔸L'Oréal has inked a partnership with Cosmo International Fragrances to use Cosmo’s green-science extraction process for fine fragrances 🔸Coty’s sales grew 18% for the first quarter of fiscal year 2024, raising its outlook for the full year 2024 🔸IFF’s sales fell 8% in the third quarter while the Scent segment’s sales rose 4% To see more on these stories and other news, watch BW Confidential's one minute video This Week in Beauty. #beautyindustry #beautybusiness #beautynews #video

When budgets get tight, there’s nothing a tube of lipstick can’t solve. Or at least, that’s what economists seem to believe. bit.ly/3Iq6ljY Even when people are scrambling to save every last penny, the “lipstick effect” has proved time and again that shoppers will indulge in small luxuries as a compromise since they can’t spend on big ones. And cosmetics giant SEPHORA couldn’t be happier about it. The LVMH-owned chain, which performed “exceptionally” in 2023, was the French conglomerate’s fastest growing segment by sales at a time when luxury spending has been on a rollercoaster ride. Sephora contributed to a 76% profit rise in the selective retailing segment, which includes Duty Free shops and raked in €17.9 billion ($19.4 billion) in sales last year.

The global #lipstick market, valued at USD 9.09 billion in 2022, is poised for robust expansion with a projected CAGR of 7% through 2028. This growth underscores lipstick's enduring popularity in the beauty industry, driven by key factors shaping consumer preferences and market dynamics. Key Market Drivers: 🔹 Increasing Demand for Cosmetics & Beauty Products 🔹 Increasing Emphasis on Natural and Organic Products 🔹 Increasing Disposable Income of Consumers Key Market Players: Leading global brands such as LVMH – Louis Vuitton SE, The Estée Lauder Companies Inc., L'Oréal SA, and others are at the forefront, innovating and meeting the evolving demands of beauty enthusiasts worldwide. The future looks vibrant for the lipstick market, with projected billion-dollar valuations on the horizon. Explore this dynamic sector- https://lnkd.in/gbJ584br #LipstickMarket #BeautyIndustry #Cosmetics #GlobalTrends #MarketGrowth

What's makes Sephora stand out as a Brand Their range of products, the priority they place on customers, and their innovative ideas. How can you make your brand stand out, picking some lessons from @sephora? #brandoftheweek #sephora #sephoracollection #beautybranding #brandingtips #brandpositioningstrategy #brandmarketing #brandmarketingtips #brandmarketingcommunication #marketingstrategy #marketingtips #marketingstrategies #brandagency #marketingagency #marketingdigital #brandmarketingagency #tbatribe #thebrandarchitect #tbatrybe #brandidentity #brandidentitytips

#Perfume Market 2023 - Overview By Industry Trends, Growth Factor and Analysis To 2030. >> https://lnkd.in/d2hTZrSM As disposable income around the world continues to rise, consumers are increasingly able to afford #luxury #goods such as #perfume which has pushed the #demand for high-end #fragrances. The endorsement of fragrances by celebrities and designers has led to an increase in their popularity. The Avon Company CHANEL Coty LVMH The Estée Lauder Companies Inc. Revlon Puig Shiseido Givaudan Hermès Kering #Perfume #consumer_goods_and_service #business_opportunities #marketanalysis #marketresearch #opportunities #business #future #perfume

Getting into a retailer like SEPHORA is a huge accomplishment. Once small brands get that initial yes they quickly get hit with the reality that they are in direct competition with 100s of other companies. Some of that competition is going to be multi-national companies that spend hundreds of thousands of dollars to support their brand’s success in Sephora alone. Indie brands cannot compete with that kind of financial power. It’s one of the reasons I support the merchandising effort this retailer has done under The Next Big Thing. The section highlights many of the new entries coming into the retailer. It gives a collective nod to the underdogs. It also becomes a pivotal benchmark for how much product will be sold from those shelves. Products that do well in this section...stay in the store. Products that do not sell well in this section....get discontinued from the store. I encourage customers to seek out The Next Big Thing sections in Sephora. There are separate sections for skin care and hair care in each store nationwide. Black and brown founded brands are being highlighted here. They must be supported to survive. #IndieBeauty #BlackBeautyBrands #Sephora