Beyond beauty fashion and beauty

THE PARALLEL TRAJECTORIES OF FASHION AND BEAUTY
BEYOND BEAUTY 2014
NICOLE TYRIMOU, BEAUTY AND PERSONAL CARE ANALYST

© Euromonitor International
2
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BEAUTY AND FASHION ALIGNMENT
GEOGRAPHICAL GROWTH OPPORTUNITIES
KEY CATEGORY FOCUS
FUTURE PROSPECTS

4
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
2008
2009
2010
2011
2012
2013
US$ million
Apparel
Beauty
Beauty Less Than A Third Of The Total Apparel Market

5
0
1
2
3
4
5
6
7
2004
2006
2008
2010
2012
2014
% Growth
Apparel vs. Beauty Growth
Apparel
Beauty
The Parallel Lives Of The Industries

6
Luxury Fashion And Premium Beauty Grow In Alignment
-4
-2
0
2
4
6
8
10
12
14
-40,000
-20,000
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
2008
2009
2010
2011
2012
2013
Year-on-Year % Growth
US$ Million
Designerwear
Premium Beauty
Designerwear % Growth
Premium Beauty % Growth

7
Different Roots To Entry
Collaborations
Licenses
In-House

9
US$ 1-4Billion
US$ 7 Billion
Premium Beauty - Asia Pacific Dominates while Western Europe Rises
US$ 34 Billion
US$ 20-25 Billion
4.5%
16%
4%
2.3%
0.7%
3.4%
%value growth 2013
15%

10
US$ 2-5Billion
US$ 5-8 Billion
Designerwear Remains Heavily Depended On Mature Markets
US$ 50 Billion
US$ 25-32 Billion
6%
9%
8%
7%
5%
1.5%
4.6%
%value growth 2013

11
Consumers In Emerging Markets Have The Highest Interest For Luxury

12
But.. Consumers’ Interest In Luxury Fragrance Remains Universal

14
0
1
2
3
4
5
6
7
8
9
10
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
Premium
Skin Care
Premium
Fragrances
Premium
Colour
Cosmetics
Premium
Hair Care
Premium
Sun Care
Premium
Bath and
Shower
Premium
Baby/Child
Products
% Value Growth
US$ million
2013US$mn
2011-12% growth
2012-13%
Slowdown In Top Two Premium Categories
KEY CATEGORY FOCUS

15
Brand Loyalty In Skin Care and Colour Cosmetics prevails
KEY CATEGORY FOCUS
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Apparel & Footwear
Skin care
Fragrances
Colour Cosmetics
% of respondents
Brand Loyalty within Consumers Interested in Luxury
Loyal
Disloyal
Source: Euromonitor International Analyst Survey
Note: Showing percent of respondents interested in luxury – purchasing habits

16
Fashion Brands Struggle To Make An Impact In Skin Care
KEY CATEGORY FOCUS

17
High profit margins
Asia Pacific influence
Affinity to luxury
Yves Saint Laurent Or Rouge
Christian Dior Dream Skin
Dolce & Gabbana skin care
Tom Ford men’s skin care
Fashion Brands Up Their Investment In Skin Care
KEY CATEGORY FOCUS

18
-1
0
1
2
3
4
5
6
-10
90
190
290
390
490
Fragrances
Colour
Cosmetics
Skin Care
Fragrances
Colour
Cosmetics
Skin Care
Christian Dior
Chanel
% Growth
US$ million
2008-13 value growth
2008-13 CAGR
The Fashion Giants Of Beauty
KEY CATEGORY FOCUS

19
Fragrance
Skin Care
Colour Cosmetics
New Entries From The Fashion World
KEY CATEGORY FOCUS

20
J Crew
Fragrances
& Other Stories
Beauty
Top Shop
Facial Make-Up
Apparel Brands Moving Into Beauty
KEY CATEGORY FOCUS

21
Fashion Brands Launching Stand-alone Beauty Stores
KEY CATEGORY FOCUS
RETAIL

22
Christian Dior took over Harrods London 2013
Chanel celebrates mother’s day London 2013
Events And Exhibitions Around The Brand
KEY CATEGORY FOCUS

23
Revival of the brand with new fashion line and accessories
Puig opens new office in Paris to be closer to fashion lines
90% of sales come from fragrances
Can Success In Beauty Revive The Fashion Image?
KEY CATEGORY FOCUS

25
US
Italy
Japan
France
China
UK
Russia
Germany
South Korea
Others
US$3.7 billion
US$1.5 billion
US$1.4 billion
The Future Of Designer Wear Stays In Mature Markets
FUTURE PROSPECTS
TOTAL in 2018 US$154 billion

26
Premium Future Growth Concentrated In Three Categories
FUTURE PROSPECTS
Country
2013-18 US$ mn growth
China
4,335
US
2,970
South Korea
1,489
Brazil
805
UK
755
Saudi Arabia
731
Russia
575
Germany
399
Key absolute growth markets
$20,6billion
$6.7billion
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Absolute Growth 2013-18 US$ million
US$ million
Skin care
Hair Care
Colour Cosmetics
Fragrances
Key absolute growth categories

27
0
2000
4000
6000
8000
10000
12000
14000
2013
2018
US$ million
Men’s designer wear selected top markets 20013 vs. 2018
US
France
China
South Korea
0
200
400
600
800
1000
1200
2013
2018
US$ million
Men’s premium skin care selected top markets 2013 vs. 2018
South Korea
China
US
France
Unexplored Territories – Men’s Grooming
FUTURE PROSPECTS

28
Unexplored Categories - Baby And Child Specific Products
FUTURE PROSPECTS

29
Key Takeaways
FUTURE PROSPECTS
Asia/China – Key white space for fashion brands in skin care
Middle East – Easy entry point for designer fragrances
USA – Holds equal potential across all beauty segments
Fashion
Beauty

30
Future Issues To Consider
FUTURE PROSPECTS
Fierce Competition
Sustaining Affordable Luxury
Lifestyle Status

THANK YOU FOR LISTENING
Nicole Tyrimou
Analyst - Beauty and Personal Care Research
Nicole.tyrimou@euromonitor.com
@Nicole_Tyrimou

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