品牌價(jià)值-最具價(jià)值和實(shí)力的化妝品品牌年度報(bào)告（英文）-2021.5-22正式版

Cosmetics502021TheannualreportonthemostvaluableandstrongestcosmeticsbrandsMay2021Contents.AboutBrandFinance44668GetinTouchBBrandFinanceGroupForewordExecutiveSummary1012161826BrandValue&BrandStrengthAnalysisBrandFinanceCosmetics50(USDm)CosmeticsIndustryExpertInsightsSectorReputationAnalysisMethodology2830313233De?nitionsBrandValuationMethodologyBrandStrengthBrandEquityResearchDatabaseOurServices3436373841ConsultingServicesBrandEvaluationServicesCommunicationsServicesBrandFinanceNetwork?2021Allrightsreserved.BrandFinancePlc.BrandFinanceCosmetics50May20213AboutBrandFinance.RequestyourownBrandFinanceistheworld'sleadingbrandvaluationconsultancy.BrandValueReportWebridgethegapbetweenmarketingandfinanceBrandFinancewassetupin1996withtheaimof'bridgingthegapbetweenmarketingand?nance'.For25years,wehavehelpedcompaniesandorganisationsofalltypestoconnecttheirbrandstothebottomline.ABrandValueReportprovidesacompletebreakdownoftheassumptions,datasources,andcalculationsusedtoarriveatyourbrand’svalue.WequantifythefinancialvalueofbrandsWeput5,000oftheworld’sbiggestbrandstothetesteveryyear.Rankingbrandsacrossallsectorsandcountries,wepublishnearly100reportsannually.Eachreportincludesexpertrecommendationsforgrowingbrandvaluetodrivebusinessperformanceandoffersacost-effectivewaytogainingabetterunderstandingofyourpositionagainstcompetitors.WeofferauniquecombinationofexpertiseOurteamshaveexperienceacrossawiderangeofdisciplinesfrommarketingandmarketresearch,tobrandstrategyandvisualidentity,totaxandaccounting.InsightWeprideourselvesontechnicalcredibilityBrandFinanceisacharteredaccountancy?rmregulatedbytheInstituteofCharteredAccountantsinEnglandandWales,andthe?rstbrandvaluationconsultancytojointheInternationalValuationStandardsCouncil.Visit/request-a-valuationoremailenquiries@brand?StrategyOurexpertshelpedcrafttheinternationallyrecognisedstandardsonBrandValuation–ISO10668andBrandEvaluation–ISO20671.Ourmethodologyhasbeencerti?edbyglobalindependentauditors–AustrianStandards–ascompliantwithboth,andreceivedtheof?cialapprovaloftheMarketingAccountabilityStandardsBoard.BenchmarkingBrandValuationSummaryBrandStrengthTrackingGetinTouch.RoyaltyRatesEducationForbusinessenquiries,pleasecontact:AnnieBrownAssociate+4402073899423/company/brand-?nancea.brown@brand?CostofCapitalAnalysisFormediaenquiries,pleasecontact:FlorinaCormack-LoydSeniorCommunicationsManager+4402073899444/brand?nanceCommunicationf.cormackloyd@brand?/brand?nance/brand.?nanceForallotherenquiries,pleasecontact:enquiries@brand?+442073899400CustomerResearchFindingsUnderstandinFormoreinformation,pleasevisitourwebsite:brand?nance.comenquiries@4BrandFinanceCosmetics50May2021CompetitorBenchmarkingBBrandirectoryistheworld’slargestdatabaseofcurrentandhistoricalbrandvalues,providingeasyaccesstoallBrandFinancerankings,reports,whitepapers,andconsumerresearchpublishedsince2007.+Browsethousandsofpublishedbrandvalues+Trackbrandvalue,strength,andratingacrosspublicationsandovertime+Useinteractivechartstocomparebrandvaluesacrosscountries,sectors,andglobalrankings+Purchaseandinstantlyunlockpremiumdata,completebrandrankings,andresearchVisitto?ndoutmore.BrandFinanceGroup.BrandFinanceInstituteBrandFinanceInstituteistheeducationaldivisionofBrandFinance,whosepurposeistocreateandfosteraprofessionalenvironmentforknowledge-sharingandnetworkingamongpractitionersandexpertsinthemarket.BFIorganisesevents,in-companytraining,andcorporateeducationalinitiativesaroundtheworld.Inthequestformarketingexcellenceandwiththepurposetoequipthebrandvaluationandstrategypractitionerswiththenecessaryskillsandtools,wehavedevelopedawiderangeofprogrammesandcerti?cationsincollaborationwiththemostcovetedbusinessschools,universitiesandthoughtleadersinthe?eld.BrandDialogueBrandDialogueisapublicrelationsagencydevelopingcommunicationsstrategiestocreatedialoguethatdrivesbrandvalue.BrandDialoguehasover25yearsofexperienceindeliveringcampaignsdrivenbyresearch,measurement,andstrategicthinkingforavarietyofclients,withastrongbackgroundingeographicbranding,includingsupportingnationbrandsandbrandswithageographicalindication(GI).BrandDialoguemanagescommunicationsactivitiesacrossBrandFinanceGroup'scompaniesandnetwork.VI360VI360isabrandidentitymanagementconsultancyworkingforclientsofallsizesonbrandcompliance,brandtransition,andbrandidentitymanagement.VI360providestraightforwardandpracticalbrandmanagementthatresultsintangiblebene?tsforyourbusiness.brand?nance.comenquiries@6BrandFinanceCosmetics50May2021Foreword.World’sTop50CosmeticsBrandsLoseOver$1225yearsago,on1stApril1996,IlaunchedBrandFinanceto‘BridgetheGapBetweenMarketingandFinance’.Ithoughtthatthegapbetweenthesiloswouldprogressivelydisappearas?nancepeoplelearnedtheimportanceofmarketingfordrivinggrowthandmarketingpeoplelearnedtheneedfor?nancialaccountability.Progresshasbeenmadebutthegapisstillthereandwearenowworkinghardthroughourpublications,rankings,forumsandtheBrandFinanceInstitutetrainingprogrammestonarrowthegap.Overthelast25yearswehavelivedthroughfourmajorrecessions:2001,whenthedotcombubbleburst;2009,whentheGreatFinancialCrashwashedoverus;2013,whentheEurocausedameltdowninEuropeandin2020,whentheCovidPandemicbroughttheworldtoahalt.DavidHaighCEO,BrandFinanceBrandFinancehasbeenthroughmanyupsanddownsbutwehavesurvivedbecausewehavealwaystriedtoleadourgrowingnichemarket.WeclaimtobetheWorldsLeadingBrandValuationFirm.Overthelast25yearswehaveinnovatedcontinuouslyinourmarketplaceandwehavetransparentlysharedourinnovations,knowledgeandtechniquestohelpgrowthemarket,mostobviouslyviaISOglobalstandardsonBrandValuationandBrandEvaluation.BillionWorthofBrandThroughoutthelast25yearswehavealwaysinvestedheavilyintrainingandprofessionalisingourstaff,inresearchtobringgreaterinsighttoourworkandinhighpro?lemarketingandcommunications.Wepracticewhatwepreachtoclients.Value.Therehasneverbeengreaterrecognitionofbrandsasassetsandtheneedtomanagethemforvalue.Wearepoisedforsigni?cantgrowthasCEOsandBoardswakeuptotheneedtomanagebrandsbetter.IstartedBrandFinanceinthesparebedroominTeddington.WenowoperatefromtheBrandExchangebuildingintheheartoftheCityofLondonandin25citiesworldwide.+

Totalvalueofworld’stop50mostvaluablecosmeticsbrandshasdeclinedby9%assectornegotiatesfalloutfromCOVID-19pandemicOverthelast25years,manyfamousbrandshavedisappearedordeclined.Manynewbrandshaveemerged.Sectorshaverisenandfallen.Oilandgasbrandsareindeclinewhiledata-andtechnology-drivenbrandsarebooming.AmericaandEuropearelosingouttoChinaandAsia.+++L’Oréalretainstitleofworld’smostvaluablecosmeticsbrand,brandvalueUS$10.2billionButwhiletheremaybevolatility,brandshaveneverbeenmoreimportantforNations,Companies,ProductsandServices.WithanudgefromBrandFinanceevenFootballteamsandtheMonarchynowrecognisethattheyhavevaluablebrands.YvesRocherissector’sfastestgrowingbrand,upimpressive71%Ihopethenext25yearswillbeasinterestingandfunasthelast.Iwouldliketothankalltheclients,staffandpartnerswhohavehelpedBrandFinanceoverthelast25years.FreshandTheBodyShoparenewentrants,claiming36thand49thspot,respectively+

Naturaissector’sstrongestbrandwithAAAbrandstrengthrating8BrandFinanceCosmetics50May2021BrandFinanceCosmetics50May20219ExecutiveSummary.BrandValue&BrandStrengthAnalysis.BrandValue&BrandStrengthAnalysis.consumersissigni?cantlyloweroutsideofEuropeandNorthAmerica,particularlyinmarketssuchasIndia,China,andJapan.Attheendoflastyear,thebrandundertooksomestrategicreshuf?ingofL’Oréal’sgeographiczones-withAPACbeingseparatedintoNorthandSouth–apotentialindicatoroffuturegrowthplanspost-pandemic.Top10MostValuableBrands10

12021:$10,222m2020:$11,747m-13.0%-10.9%-16.2%+0.1%-9.6%2Thebeautybehemoth’spositioninthemarketstillremainsacutabovetherestanditboastsanincrediblystrongheritageinthesector.Ithasbeen50yearssinceL’Oréal?rstusedtheslogan“becauseyou’reworthit”andthephrasestillbearsmeaningtoconsumerstoday,withthebrandsuccessfullyremainingrelevantthroughproductinnovationsandcontinuedfreshmarketing.0

22021:$7,550m2020:$8,479m30

32021:$6,192m2020:$7,391mYvesRocherupimpressive71%Thetotalvalueoftheworld’stop50mostvaluableThepandemichasundoubtedly4cosmeticbrandshasdeclinedby9%,decreasingfromforcedchangeupontheYvesRocher(brandvalueUS$2.4billion)isthefastestgrowingbrandinthisyear’sranking,followinganimpressive71%brandvalueincreaseand2

6US$137.5billionin2020toUS$124.8billionin2021.cosmeticssector,fromstiflingdemand-aresultoflifestylechangesandfinancialuncertainty-totherapidriseofdigitalisationande-commerce.Brandsthathaveshownsavvinessandtheabilitytoadaptwillbouncebackfromtheturmoilofthelastyear,unlikethosethathavefailedtoadaptquicklyenough.2021:$5,691m2020:$5,688mAsalargeanddiversesector,therehavebeenmixedfortunesforcosmeticsbrands,withcolourcosmeticsthemostnegativelyimpactedsegment,recordinganaveragebrandvaluedeclineof15%.Multi-levelmarketingbrands–includingAvon(down24%toUS$772million)andOriflame(down1%toUS$802million)-havefaceda12%dropinbrandvalueonaverage.Thesector’slargestbrandsinhaircare,razors,andfragrancehavealsobeenhardhitwithanaveragebrandvaluedropof10%.simultaneouslyjumpingeightspotsfrom28thto20th.5YvesRocherisbouncingbackfollowingasharpdeclineinbrandvalueisrecentyearsduetothedecisiontopulloutoftheUKamidBrexit.Thebranddoes,however,continuetoperformwellinmainlandEurope.DuringthepeakoftheCoronaviruspandemic,YvesRocher’sfactorieswererepurposedtocreatealcoholgels,producingnearly45,000bottlesaweek.1

42021:$5,687m2020:$6,291m62

72021:$5,189m2020:$5,576m-6.9%Thatbeingsaid,accordingtoBrandFinance’sGlobalBrandEquityMonitor,thecosmeticssectorhasthehighestreputationofallsectorsglobally–onlymatchedbythefoodsector.Astrongreputation,andthusastrongbrand,willstandcosmeticsbrandsingoodsteadtorecoveratpaceinthecomingyear.BrandValueChange2020-2021(%)72

8-37.2%-35.3%-29.7%-24.7%-24.0%-20.3%-19.5%-18.6%-17.6%-16.9%70.5%53.1%21.7%19.1%2021:$5,094m2020:$4,977m+2.4%-19.5%-12.2%-6.6%AnnieBrown81

5Associate,BrandFinanceL’Oréalstrikesagain2021:$5,005m2020:$6,216mL’Oréalhasretainedthetitleoftheworld’smostvaluablecosmeticsbrandsforthe2ndconsecutiveyear,despiterecordinga13%brandvaluelosstoUS$10.2billion.Thedropinbrandvalueislargelyaresultofthebrand’s?nancialoutlookdipping,aconsequenceofthepandemic.14.8%13.3%9.2%9.2%5.0%4.7%90

92021:$4,094m2020:$4,664m10Forthe?rsttime,BrandFinancehasconductedglobalmarketresearch,aspartoftheGlobalBrandEquityMonitor,forL’OréalandL’OréalParisbrands.Theresearchdemonstratesthatthebrand’sreputationamong2

112021:$4,013m2020:$4,297mbrand?nance.com/cosmetics12BrandFinanceCosmetics50May2021BrandFinanceCosmetics50May202113BrandValue&BrandStrengthAnalysis.BrandValue&BrandStrengthAnalysis.FreshandTheBodyShopstormintorankingNewentrantsFresh(brandvalueUS$1.1billion),andTheBodyShop(brandvalueUS$725million)arethesecondandthirdfastestgrowingbrands,up53%and22%,respectively.Enteringtherankingin36thposition,Fresh-whichwaspurchasedbyLVMHin2000–bene?tsfromthecombinationofLVMHcapitalbehindit,pairedwiththefoundersremainingincontrol.TheUK’sTheBodyShophasclaimed49thposition.ThebrandhasundertakenacompleteproductandbrandingoverhaulinrecentyearssinceitwasboughtbyBrazil’sNatura&CofromL’Oréal,nowpositioningitselfasanactivistbrandatthecore,thatwillbe‘foreveragainstanimaltesting’.Salesforthebrandweresolidonitse-commerceplatform,whichmorethancompensatedforsaleslostinstores,whichnumberat3,000inmorethan70countries.Naturaissector’sstrongestTop5StrongestBrandsInadditiontomeasuringoverallbrandvalue,BrandFinancealsoevaluatestherelativestrengthofbrands,basedonfactorssuchasmarketinginvestment,customerfamiliarity,staffsatisfaction,andcorporatereputation.Alongsiderevenueforecasts,brandstrengthisacrucialdriverofbrandvalue.Accordingtothesecriteria,Natura(up19%toUS$1.7billion)istheworld’sstrongestcosmeticsbrand,withaBrandStrengthIndex(BSI)scoreof86.7outof100andacorrespondingAAAbrandstrengthrating.12

32021:86.7AAA2020:88.3AAA-1.6+1.4+0.7-1.0BrandValuebyCountry22

172021:86.4AAA2020:85.0AAAAccordingtoBrandFinance’sGlobalBrandEquityMonitorresearch,NaturaisperceivedtobeanextremelystrongbrandacrossBrazilandSouthAmericaandalthoughthebrandislesserknownoutsidetheregion,itspropositionremainsfavouredinternationallythankstotheriseinpopularityofnaturalbrands.BrandValue(USDbn)%oftotalNumberofBrandsCountry32

19●●UnitedStatesFrance52.435.742.0%28.7%1892021:85.6AAA2020:84.9AAA●UnitedKingdom9.27.4%74Thebrandwaslargelyabletoshelteritselffromthenegativeimpactofthepandemicduetothediversi?edriskofitsbusinessoperations,whichcoversawidevarietyofproductsfrombath,fragrance,body,andmakeup.●●●●2

8GermanyJapanChinaOther8.16.5%6.0%4.0%5.4%26357.52021:85.5AAA2020:86.5AAA5.05Furthermore,thebrandisbolsteredbythesuccessofitsparentcompanyNatura&Co–whichownsAesop,TheBodyShopandAvon–whichscoreswellacrosscorporatebrandmeasuresincludinggovernance,sustainability,andemployeeappeal.6.72

13Total124.8100.0%502021:85.2AAA2020:85.7AAA-0.5brand?nance.com/cosmetics14BrandFinanceCosmetics50May2021BrandFinanceCosmetics50May202115BrandFinanceCosmetics50(USDm).Top50mostvaluablecosmeticsbrands2021BrandValueBrandValueChange2020BrandValue2021BrandRatingRating2020Brand20212020RankRankBrandCountry0002122102211221210201112012121012130210200121133111L'OréalFrance$10,222$7,550$6,192$5,691$5,687$5,189$5,094$5,005$4,094$4,013-13.0%-10.9%-16.2%+0.1%-9.6%$11,747$8,479$7,391$5,688$6,291$5,576$4,977$6,216$4,664$4,297AAA-AAAAAA-AAA-AAAAAAAAAAAAAAA-AAA-AAAAAAAAA-AAA-AAAAAAAAAAAAAAAAAA22GilletteUnitedStatesGermany33Nivea46GuerlainFrance54EstéeLauderPanteneUnitedStatesUnitedStatesUnitedKingdomUnitedStatesFrance67-6.9%78Dove+2.4%-19.5%-12.2%-6.6%85Clinique99Garnier10111213141516171819202122232425262728293031323334353637383940414243444546474849501113101215181420171928211622232926253127362432303533-Head&ShouldersLanc?meM.A.CUnitedStatesFranceUnitedStatesUnitedStatesUnitedStatesChinaMaybellineJohnson'sPECHOINClarinsFranceSK-IIJapanProcter&GambleOlayUnitedStatesUnitedStatesFranceYvesRocherRexonaAustraliaBeneFitUnitedStatesFranceAxe/Lynx/EgoSchwarzkopfNaturaGermanyBrazilL'OccitaneNeutrogenaLuxFranceUnitedStatesUnitedKingdomUnitedStatesSouthKoreaFranceOldSpiceSulwhasooElsève/ElviveSunsilkUnitedKingdomJapanShiseidoPalmoliveBioreUnitedStatesJapanFreshUnitedStatesChina3739344049424341483846-RejoiceClearFranceKoséJapanInnisfreeLaRoche-PosayBobbiBrownCHANDOPolaSouthKoreaFranceUnitedStatesChinaJapanOriflameAvonSwedenUnitedStatesUnitedKingdomUnitedStatesUnitedKingdomJapanTRESemméHerbalEssencesTheBodyShopSofina-45brand?nance.com/cosmetics16BrandFinanceCosmetics50May2021BrandFinanceCosmetics50May202117CosmeticsIndustryExpertInsights.CosmeticsIndustryExpertInsights.Thisyear,BrandFinancehaspartneredwithCosmeticsBusiness-theleadingonlineplatformfortheprofessionalbeauty,personalcare,andtoiletriesindustry-toconductaresearchstudytobetterunderstandwhattheirreadersbelievethefutureholdsforthebeautyandcosmeticsindustry.ambiguityforconsumershasgone,andthusitwouldseemtrusthasgoneup.Theyearaheadarere?ectiveofthedelayintheimpactofthepandemicontheconsumer,whichtheyhavebeenlargelyprotectedfromthusfar.Wethenaskedthesamequestion,butthistimeButdigitalisn’ttheonlyimportantfactor–abrand’sstanceonsustainability,itspurpose,anditsethicsarealsokeywhendrivingconsumerchoice.Abrand’stransparencyoverproductcontentsandclaimsscoresonlyslightlybehindonlinevisibility,withascoreof4.10outof5.Overthepreviousfewyears,wehavewitnessedmoreandmorechallengerbrandsrideonthesustainabilityand‘clean’waveinordertoaskedwhatfactorwouldhavethelargestimpactonconsumerchoiceinthecomingyear.Thereweresomeconsiderablemovementsintheanswers.Thedesireforsustainableandethicalbrandsjumped5spots,comingto10th.Thismaybearesultofreducedinteractionoutontopasthemostimportantfactortoconsumers.Thepricepointhasjumped5spotstobecomethethirdmostimportantfactor.Similarly,the?nancial/socialadviceandrecommendationsaseasily,andinperson,impactofCOVID-19hasjumped3places.Theseshiftsastheyusedto.Incontrast,recommendationfromfriends/family,slippedthefurthestdowntheranking,down5spotsWeconductedanonlinesurveyamong179industryprofessionals,whowereasked22questionsonthecosmeticsindustryoutlooksandkeymarketplayers.ingeneral,duetostayathomeorders–consumerssimplydon’thavetheopportunitytoseekcosmeticsWhatdrivesconsumerchoicetoday?differentiatethemselvesinthemarketandcompetewiththetraditionalpowerhouses,inresponsetotheever-increasingpressuresfromGenZto‘dobetter’fortheenvironmentandfutureproo?ngtheplanet.Respondentswere?rstaskedwhatin?uencesconsumerswhentheypurchaseaproductandwererequestedtoscore12factorsoutof5,rangingfromonlinevisibilityandtransparency,topriceandthesocialvaluesofbrands.Whatwillhaveabiggerorsmallerimpactintheyearahead?ComingoutastheleastimportantfactoraccordingtoCosmeticBusiness’sreadersisthe?nancial/socialimpactofCOVID-19,withascoreof3.55outof4.FactorsInfluencingCustomerChoice&RankinImportanceTodayRankYearAheadRankChangeComingoutontopwasbrands’onlinevisibilityande-commerceavailability,withascoreof4.24outof5.Theroleofdigitalhasbeenpropelledtotheforefrontofconsumers’interactionswithproductsacrossallsectors,aspeoplehavebeenforcedtoturnonlinetopurchaseaspandemic-inducedlockdownsareimposedglobally.Sittinginfourthistheimportanceofpeerrecommendationonsocialmedia(4.02).Withthenewstrictadvertisingregulationsinplaceacrosssocialmediachannels–in?uencersnowmuststatewhenanythingisapaidpromotion,gift,oradvert–theAdesireforsustainableandethicalbrands1261+5Factorssittinginthemiddleare:recommendationfromfriends/family(4.00);innovation&newproducts(3.98);pricepoint(3.82);desireforreducedpackaging(3.61);andabrand’semphasisonitscustomer‘community’(3.57).Abrand’sonlinevisibilityande-commerceavailabilityPricepoint-1+5+3-338Perhapsthemostsurprisingresponsewasthepricepoint,scoringquitelowcomparedtootherfactors.Withmanyexperiencing?nancialdif?cultiesandpurchasingpowertakingahitoverthelastyear,onemighthaveexpectedthistohavescoredhigher.Innovation&newproducts47Abrand’stransparencyoverproductcontentsandclaimsPeerrecommendationonsocialmediaIngredienttransparency52Mostimportantfactorsdrivingconsumerchoicetoday64-2Abrand'sonlinevisibilityande-commerceavailabilityAbrand'stransparencyoverproductcontentsandclaimsIngredienttransparencyDigitalfootprintisthoughttobeakeyfactorfor73-4PeerrecommendationonsocialmediaRecommendaionfromfriends.familyAdesireforsustainableandethicalbrandsInnovationandnewproductsconsumerchoiceSocialvaluesandpurposeofbrandsThefinancial/socialimpactofCOVID-19Desireforreducedpackaging89+1+30912105Sustainability,purposeandethicsalsoimportantfactorsPricepointSocialvaluesandpurposeofbrandsDesireforreducedpackaging101112Abrand'semphasisonitscustomer'community'The?nancial/socialimpactofCOVID-19Recommendationfromfriends/familyAbrand’semphasisonitscustomer‘community’-53.23.43.63.844.24.411-1Averageimportanceoutof10brand?nance.com/cosmetics18BrandFinanceCosmetics50May2021BrandFinanceCosmetics50May202119CosmeticsIndustryExpertInsights.CosmeticsIndustryExpertInsights.Whenaskedabouttheiroutlookontheindustryasawhole-aswellastheirorganisationspeci?cally-ingeneral,surveyrespondentshadabullish,optimisticview.However,afewrespondentsexpectedtheeconomicthedeclineinin-storesaleswitnessedlastyear.Asconsequencesandsupplychaindisruptionsduetothesomecategories,mainlycolourcosmetics,havelostout.Whilesomeoftheindustrysaleshaveshiftedtoonline,thegrowthinonlinesalesdoesnotoffsetProductoutlookbetheslowestgrowingproductsacrossthesectorinthecomingyear.Withtheforcedriseinhomespatreatments,theseresultsareperhapsunsurprising.Aswellaslookingatthesectorasawhole,respondentswereaskedaboutspeci?cproductsandhowtheywouldfareinthecomingyearfollowinggloballockdowns.Skincareandhaircarewereevidentleaders,withrespondentsbelievingthattheywillgrow93%and86%,respectively.Attheotherendofthespectrum,fragrancesandcolourcosmeticsareperceivedtoevidencefromtheChinesemarketsuggests,despitestorereopening’sand“revengespending”,saleshavenotfullybouncedback.Weexpect,therefore,thereturntopre-pandemicsaleslevelswilltaketime,andwewillseefundamentalshiftsinthecompositionoftheindustrybetweennowandthen.61%ofrespondentsbelievethatmalegroomingwouldgrowthefastestamongthesubcategories.Theexponentialriseinvideocallingthisyear,forcingmeninwhitecollarjobstolookatthemselvesalotmorefrequently,couldhavecausedthisresult.pandemictohaveamajorimpactondemand.Historically,thecosmeticsindustryhasbeenresilientduring?nancialcrises,butthelockdownsandlifestyleshiftscausedbythepandemichavemeantthatOutlookbysegmentvariessignificantlyduetolockdownsThoughtsonoutlook??GrowfastestStrugglethemost0%10%20%30%40%50%60%70%80%90%100%SkincareHaircare51%47%YourorganisationTheindustryasawhole-8%-9%??Body/bathPositiveNegativeHowmuchwillissuesnegativelyimpactthecosmeticsindustry?1-Notatall245-AlotMalegroomingFrangrance100%80%60%40%20%0%Supplychainvulnerability/disruption(COVID-19,Brexit,etc.)RetailerpricesqueezingFake/copycatbrandsandillicittradeGovernmentrestrictionsonmarketing/advertising-20%-40%-60%-80%Colourcosmeticsbrand?nance.com/cosmetics20BrandFinanceCosmetics50May2021BrandFinanceCosmetics50May202121CosmeticsIndustryExpertInsights.CosmeticsIndustryExpertInsights.Unileverleadspackimportantwin,giventhiswasidenti?edasoneofthemostimportantfactorsin?uencingconsumerchoicetodayandincreasinglyintheyearahead.Therefore,ifUnilevercaneffectivelyconveythismessagetoendconsumers,itsbrandsarelikelytobene?t.OthermetricsthatUnileverperformedtoponwereemploymentappeal(33%)and?nancialstrength(27%).Attheotherend,thebrandperformedworstforitsreputationintheindustrywithonly10%ofrespondentsagreeingthatitwasadmiredforthis.Topofmindbrandscomeoutontop,with98%ofrespondentssayingtheyarefamiliarwiththebrand.TheentireNivearangeiscentredonNiveaBlue,givingthebrandextremelyhighrecognitionvalueasdemonstratedintheresults.Similarly,L’Oréalscores98%forfamiliarity.Thesheersizeanddiversityoftheportfoliomeansthatthenameandproductsarehardtoavoidandthereforeknowntheworldover.CosmeticsBusinessreaderswerethenaskedaboutwhichoftheFMCGgiantstheyadmiredmostoutofEstéeLauder,Procter&Gamble,L’Oréal,LVMHMo?t,andUnileverbasedonsixcriteria:reputationintheindustry;brandportfolio;?nancialstrength;innovation;environmentalsustainability;andemploymentappeal.Thenextquestionwasadeeperdiveintospeci?cproductsintheindustry,lookingathowwelltheywereknownandhowwelltheywereadmired.Withtheiconicbluepackaging-whichthebrandsaysrepresentstrust,closeness,andcare-NiveahasUnileverperformsstrongestacrosstheboard,scoringhighestacrossthreeofthecriteria.Thebrandalsocomesoutontopbyaconsiderablemargin–with53%ofrespondentsagreeing–forbeingthemostadmiredforitsenvironmentalsustainability.ThisisanMostfamousbrandsamongreadersEstéeLaudersitsjustbehindUnilevertoppingthetwometricsonreputationintheindustry(46%)andbrandportfolio(29%).Ni