CoverGirl, Olay bring it all together
CINCINNATI — Foundations are increasingly infusing such skin care benefits as anti-aging ingredients and SPF protection, as evidenced by Procter & Gamble’s CoverGirl & Olay Tone Rehab 2-in-1 Foundation.
Multibenefit CC creams, foundations dominate
It’s as simple as B-C-D. Multifunctional makeup continues to — and will continue to — drive significant growth in facial cosmetics.
(For the full category review, including sales data, click here.)
“The upturn of BB cream usage is consistent with the staggering increase of new product launches over the past year combined with strong marketing efforts designed to educate women about product benefits,” stated Shannon Romanowski, beauty and personal care analyst at Mintel. “The multifunctional benefits of BB creams are broadly appealing, as the majority of makeup wearers agree that multifunctional makeup saves them time, money and allows them to reduce the number of products they use. With the recent emergence of CC and DD creams, the market is sure to continue its upward trajectory.”
According to Mintel, the color cosmetics category has grown 13% from 2008 to 2013 to an estimated $9.3 billion.
While these all-in-one products continue to enjoy the limelight, the downside is that some women are swapping out current products for such multifunctional makeup instead of making incremental purchases.
Mintel expects sales to increase 2% to 3% on a yearly basis through 2018.
Largely unknown in the United States prior to 2011, BB creams have made their mark here with a nearly 50% increase in product launches in 2013 compared with 2012. Now, the facial segment is giving way to the newest kid on the alphabet cream block: CC creams.
Launched in late 2012, CC creams, or “color control” creams, are now increasingly popping up on mass-market shelves.
Euromonitor International has found that the rise of BB and CC creams has led to a 29% value growth for the “other facial makeup” segment.
Ranked as the most important benefit in foundation, 76% of foundation users rated “evens out skin tone” as an important benefit, according to the “Makeup In-Depth Consumer Report 2012” by the NPD Group. “Evens out skin tone” also is ranked as the most important foundation benefit by each age and race/ethnic group evaluated.
Coty forms new subsidiary in South Africa
NEW YORK — Beauty company Coty has announced the formation of a new, wholly owned subsidiary in South Africa in order to direct, manage and fully operate all of its South African business as well as its business in 13 other African countries.
Through a strategic agreement with long-term partner Indigo Brands Proprietary, a wholly owned subsidiary of AVI, Coty has secured Indigo and other subsidiaries of AVI as the exclusive manufacturer, distributor and marketer of Coty’s brands. For the past 13 years, Indigo has served as the exclusive licensee of Coty’s mass brands in South Africa.
This new agreement will allow Coty to closely manage its business, give it more financial freedom to promote Coty mass brands sales growth and enable Coty to increase its footprint in the region, the beauty company stated.
"This enhanced operating agreement will allow us to drive growth in Africa," stated Michele Scannavini, CEO of Coty. "We have been very happy with our partnership with Indigo and look forward to working with AVI. Our 13 year history of successful collaboration is a positive sign of even better developments yet to come."