L’Oréal is ramping up activity across Africa as the region accounts for 25 percent of skin problems, but only 1 percent of global research output. Face products and make-up have remained marginal but have strong potential, especially in a region with the fastest-growing population. This is a big reason why the company is focused on the continent and awarded three leading African scientists its African Hair & Skin Research grant award.
Why This Matters: There is some scientific truth to the saying, “Black don’t crack” and researchers are delving deeper into what that is. Africa’s beauty and personal care market came in at $11 billion in 2017, something that L’Oreal plans to have a big share of. Consumers on the continent typically expect high-quality products that are both reliable and affordable.
Nigeria is the rising star in the sub-Saharan Africa beauty market due to its high population and projected growth
Specifically, Nigeria is the rising star of Sub-Saharan Africa’s beauty market due to its high population and projected growth. In other countries such as Kenya, only 15 percent of beauty and personal care products are sold in supermarkets.
Back in 2013, L’Oréal acquired the Kenyan company behind Nice & Lovely, a well-known mass-market skin and hair brand, for an estimated $17.6 million. Research shows that while wrinkles are the main sign of aging on caucasian skin, aging from sun damage manifests itself in a different way on darker skin, in the form of uneven pigmentation and dark spots.
Situational Awareness: Brands need to take a page out of Rihanna’s Fenty playbook. She released 40 shades and the darker ones were the first to sell out, showing a great need in this market. Rih Rih’s Fenty makeup also went on to make a reported $100 million in the first 40 days and nearly $600 million in the first year.
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This article was written by the CultureBanx Team for CultureBanx. Read the original.
