Lancôme, renowned cosmetics brand, wishes to rejuvenate its customer base. To achieve this objective, the French brand will rely on its reputation whilst developing a range of products for young people.
Lancôme, increasingly successful
Highly appreciated amongst cosmetics enthusiasts, the maison Lancôme’s focus is on luxury cosmetics. Iconic brand of the L’Oréal group, Lancôme can indeed boast about its success as the first global beauty products brand. Its turnover recently exceeding the 2 billion euros, the company surpasses even its most influential competitors in the sector such as Chanel and Estée Lauder. In 2013, the brand registered a growth superior to that of the market, with a 3.8% increase.
Lancôme targets mainly women in their 40s. Far from wanting to set aside these consumers to whom it owes it success, the brand is looking to continue its ascension by targeting younger women. Françoise Lehmann, Lancôme’s CEO, explained, “The goal is not to rejuvenate the brand, only to target a wider population of women”.
Founded in 1935, Lancôme managed to create a relationship based on trust with its clients thanks to the quality of its products. The brand has even accompanied some of them during a big part of their lives, becoming their cosmetics reference.
To provide a solution to each woman’s needs, the brand plans on multiplying their temporary collections, each adapted to the season and market trends. In parallel, Lancôme will continue to underline its iconic products in order to reinforce its prestigious image and its savoir-faire.
New products for a younger target
Currently, the French cosmetics brand remains on the down-low about its strategy to target younger women. Nonetheless, the brand did express its desire to multiply the launching of new products with more dynamic packages.
To accompany its new strategy, Lancôme chose the actress Lupita Nyong’o as its ambassador. After receiving an Oscar for her role in 12 years a slave, the actress is delighted to incarnate Lancôme’s vision of young women. “I am particularly proud of representing [Lancôme’s] unique vision of women and the idea that beauty should not be imposed, but rather a way for women to express themselves”, the 31 year old woman explained.
For her first advertisement campaign, Lancôme’s new ambassador introduces the foundation called Idole Ultra 24h. Highlighting its collection of beauty products for darker skin tones, Lancôme hopes to develop this new sector, currently representing 20% of the American market.
In addition to its cosmetics offer, Lancome intends to launch new fragrances, ones more adapted to younger women.