BRAND FINANCE released its annual study of the top 50 most valuable global cosmetics brands. If the global beauty industry continues to perform well, especially thanks to the increasing wealth of women in developing markets, luxury brands are still underrepresented among this ranking. LANCÔME, DIOR and CHANEL are indeed the only three Luxury brands appearing, far behind OLAY and L’ORÉAL.
However, a separate French study by PROMISE CONSULTING that focused on preference instead of value placed LANCÔME, DIOR and CHANEL at the top of their ranking. For the eighth consecutive year, French luxury brands were the clear leaders. CHANEL led in both the Skincare and Make-up categories. DIOR ranked second in Makeup and third (behind CLARINS) for Skincare. LANCÔME finished fourth in both areas.
What conclusions can be drawn from these two studies? Whereas LANCÔME enjoys the highest brand value and CHANEL the lowest one, their Prestige is inversely proportional. Luxury is definitively not about brand value, it is above all about Desire…