Turkey colour cosmetics market: LâOrÃ©al overtakes Avon during 2012 to become industry leader
Colour Cosmetics in Turkey - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-17 07:57:01
In 2012, Avon Kozmetik Urunleri Sanayi ve Ticaret AS lost its leading position within the Turkey colour cosmetics market to L´OrÃ©al. The share of the company went down from 28% in 2011 to 22% in 2012. The company lost share to its competitors, mainly to L´OrÃ©al and Kosan Kozmetik, in the last two years of the review period. Thus, it launched the Avon Luxe brand in order to increase the range and quality of the products it offers. The Avon Luxe brand targets the highest income groups of consumers. The company had a number of other new launches, such as Avon Perfect Kiss lipstick, which contains oils to protect lips.
In 2012, colour cosmetics current value growth was stimulated largely by the launch of value-added and better-quality products. With improved economic conditions, consumers started demanding higher-quality and more premium colour cosmetics. This led companies to invest in the production of higher-quality products. For example, the leading company Avon Kozmetik launched the Avon Luxe brand in 2012, which is a series of colour cosmetics products which contain precious stones. Consequently, the sector registered 16% value growth in 2012, compared with the review period CAGR of 13%. Also, the launch of the Essence brand by Eczacibasi Girisim Pazarlama in 2012 was another factor for growth.
Over the forecast period, colour cosmetics is predicted to register constant value CAGR of around 6% compared with the corresponding review period CAGR of 4%. The main factors that will fuel the growth will be improved economic conditions and increased investment by companies in terms of new product developments. Furthermore, increased company investments in masstige products and focus on premiumisation are expected. Companies are expected to focus on higher-quality lines or develop new lines with a masstige image. The leading company Avon, for example, will concentrate on its higher-quality products, particularly its new Avon Luxe brand, which it launched in 2012.
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