French cosmetics giant Chanel recently unveiled its first line of color cosmetics specifically designed for men, confirming the continuing growth and evolution of the concept of male beauty, and in particular, the relevance of men’s makeup.
The line makeup Boy de Chanel includes a lightly colored liquid Foundation, lip balm, eyebrow pencil. The first launch of new products took place on 1 September in South Korea. We will remind that according to market research firm Euromonitor, in the next five years, the beauty market for men will increase by 15.2%.
The choice of this country is not accidental, because in her culture, unlike the European countries where men’s treatments are quite simple and restrained, men are actively using cosmetics. This forms a strong customer base for Chanel, and also creates fertile ground for the adoption by consumers of a new line of cosmetics that guarantees her success.
In addition, this will allow Chanel to use a strong heritage brand to offer an innovative product in the men’s cosmetics. It is expected that the new line of makeup will be well received, given the already existing concept of beauty, typical of Korean men.
In fact, according to the survey, the main consumers conducted by GlobalData in the third quarter of 2018, 75% of South Korean men say that they conduct treatments at home at least once a week, compared with 38% of the French domestic market Chanel.
This not only confirms the selection of Chanel to the South Korean market as a launching pad for his new collection, but also highlights South Korea for cosmetic manufacturers all over the world seeking to produce premium cosmetics for men and women.
New Chanel strategy differs from the strategy of other brands such as L’oréal and Covergirl, which recently attracted the ambassadors of men to promote their makeup. However, they have not yet started to develop cosmetic products for men.
From premium brands ample opportunities to penetrate relatively untapped segments of the market of men’s cosmetics, especially in the field of makeup. Eastern markets will be a key platform for market development in this direction. Thus, the success or failure of the launch of the new line of Chanel will be a key indicator of the ability to invest in this trend.