As I mentioned in a previous blog, I am part of a Luxury and Lifestyle Professionals group in LinkedIn. Below is a question that another member asked on the group page to start a discussion. In an effort to provide real ideas instead of just criticizing the luxury market (see Ridiculux), I responded. To which someone wrote back to me to say that my insight was brilliant. If you agree or disagree, let me know. And yes, the title of this blog is in reference to ABC’s song The Look of Love. Write back if you think that’s clever… or not clever.
Q: Can a cosmetic brand be considered luxury? If so, what do you think should be the drivers to jump from the cosmetic field to the luxury arena?
I have read all the other comments and don’t think that anyone has it completely right. I don’t believe that cosmetics by definition is a luxury. You can see very affordable and down right cheap products at Walgreens. And though I agree that premium ingredients are important, it is just the footing to making a luxury product. Superior packaging, and limited distribution might help make a brand more precious, but it is just a marketing idea. To make any product more luxurious, you have to enhance the innate experience that product or service offers. In cosmetics that goes beyond ingredients and any scientific principal a product might claim. What I think might be a trend is service and education. Educating a consumer why something works for them and servicing them to show them how. Education might include a wellness slant since much to do about healthy skin happens with diet and nutrition. Something Borba is on trend with. A luxury cosmetics company can be personal to each customer giving them tips and trends on a seasonal basis and offering services to show how. Everyone’s skin is different and it calls for individual consultation. I know some companies already offer this (Mac and Aveda for starters). But imagine if your beauty consultant was as familiar with you as your hairdresser or even your doctor.
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Naturopathica was the first company that I learned of that created serums and tonics to be added into drinks in addition to cleansers to have better looking skin. Borba, which was launched in 2004 has similar philosophies and introduced a line of waters and crystalline drink packets which claim to help clarify, firm, and replenish skin. The Aveda Institute increases the brands stature by teaching its own methods of skin care as well as generate revenue from its locations all around the world. These three brands are good examples of how a company can differentiate themselves from their competitor, increase brand stature, and sell their products at a higher price point. But like it says in the box, results may vary.
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