Product Extension Cosmetics Product
Table of Contents
About the company
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Company Profile
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Brand history timeline
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Brand Identity
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Concept Justification
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Market Analysis
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Current Marketing Research
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Luxury Beauty Product Marketing Research
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Key Competitors Analysis
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SWOT Analysis
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Target Market
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Customer Profiles
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Core Competition
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Product Description
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Color story
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Product Inspiration
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Product Design
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Introduction
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Miu Miu is an Italian high fashion women’s clothing and accessory brand and a fully owned subsidiary of Prada. It is headed by Miuccia Prada and headquartered in Milan, Italy. At a time when Prada was at its most minimalist, Miu Miu offered a counterpoint: a sensual, rebellious take on dressing-up. Early shows were staged in New York, London and Milan, but the world of Miu Miu crystalized when the label first showed in Paris in 2006. Embracing both couture savoirfaire and refined experimentalism, Miu Miu explores fashion as a rarefied form, giving elegance and sophistication a new and twisted meaning. Diverse inspirations, playing on masculine and feminine, historic references and a jilted modernity come together unexpectedly Occupying some of the world’s prime retail positions in cities including New York, London, Paris, Milan, Tokyo, Beijing and Hong Kong, Miu Miu’s global boutiques are the bricks and mortar embodiment of the experimental spirit of the brand.
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Profile Social Media: Official Websites: miumiu.com Official Social Media: Facebok/ Twitter/ Instagram/ YouTube Establishment: Year: 1993 City: Milan Country: Italy Founder: Miuccia Prada Head Desginer: Miuccia Prada (1993- Present) Business Strategy: Market Positioning: Premium Core Business: Apparel Target: Women Product Categories: Accessories/ Apparel/ Bags/ Jewelry/ Shoes Ownership (Top Shareholders) 1. Prada Holding B.V. 2. Janus Capital Management LLC 3. Ivy Investment Management Co 4. T. Rowe Price Asociates, Inc 5. Federated Equity Mgmt Co. Of Penn 6. Federtaed Kaufmann R 7. T. Rowe Price Growth Stock
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1 Three years after the launch of Miu Miu, the label shows its first collection at New York Fashion Week in 1995
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From NYFW to LFW in two short years, Miu Miu maintains the buzz that helped launch the brand.
The first boutique opened in Via della Spiga, Milan in 1993
Drew Barrymore is the first celebrity to grace a Miu Miu ad campaign. She channels the youthful rebellion of the label perfectly.
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Miu Miu joins the Paris Fashion Week calendar in 2006
Identity
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The creative process in Miu Miu is completely different from that of Prada. Rather than being young, Miu Miu is immediate. Prada is very sophisticated and considered; Miu Miu is much more naive. -- Miuccia Prada
Miu Miu is characterized by its avant-garde, sensual and provocative style, which seeks to evoke a luxurious sense of freedom and intimacy with attention to detail and high quality. Miu Miu target women are driven by a modern spirit of exploration and experimentation in their fashion choices. Miu Miu’s store concept was dramatically autonomous with a stronger contrast between classic materials and futuristic elements to reinforce a consistent spirit of Miu Miu’s modern luxury and sensual style.
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More and more luxury fashion brands are heavily investing in beauty lines as they acknowledge brand awareness on a greater platform can be accessed through the global demand for premium cosmetics. The global premium cosmetics market is expected to reach over $126 billion by 2019. Cosmetics ranges to be boosting the awareness of luxury fashion brands now more than ever, as a mascara or lipstick is often the first item a consumer looking to buy from a top designer can afford. Miu Miu’s aim is to capture a young sophisticated woman who values trendy fashion with a little extra edge. Nowadays, many luxury fashion brands such as Tom Ford, Chanel, Christian Dior, Givenchy, Saint Laurent Paris already have their own makeup product line. In order to meet consumer’s demand and increase brand awareness, now it is time for Miu Miu has their own makeup products
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Concept Justification
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The Un world, 2016. T growth growth reachi beauty
Americ The Am cosme advan
Europe Europe cosme Germa and pr
APAC: The A marke like Est major
MEA: r The yo brands Chane for 42%
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cas: largest market for premium cosmetics mericas was the largest segment in the global premium etics market with product innovation and technological nces being the major growth drivers in this region.
e: changing lifestyles boost market e is the second largest region in the global premium etics market.In the color cosmetics segment, in any, L’Oréal continued to lead the market in the mass remium segments in 2014.
: fastest growing market for premium cosmetics PAC market stands as one of the fastest growing ets in the premium cosmetics segment. Premium players tee Lauder and L’Oréal have all targeted China as a market in this segment.
rapidly growing market ounger population of consumers is eager to try new s, in particular international high-end brands like el, Gucci, and Dior. The premium segment accounted % of cosmetic sales in the Middle East.
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Cosmetics Market Research
nited States has the largest cosmetics market in the and its revenue is expected to exceed $62 billion in The US make-up market is expected to maintain positive h through 2018, with an anticipated compound annual h rate of 3.8% for the five-year period of 2013-2018, ing $8.4 billion. One of the major contributors to the y and cosmetics industry is premium products.
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Current Market
Financial Report
The Prada brand generated retail sales of Euro 1,028.5 million, an 18.5% decrease at current exchange rates (-16.6% at constant exchange rates). Sales fell in all regions; the Far East accounted for most of the decline, although sales in Japan were down just slightly. Miu Miu generated net sales of Euro 217.5 million, a 15.7% decrease at current exchange rates (-14.2% at constant exchange rates). The Middle East region had double-digit growth for the brand, but sales fell in all other geographical areas compared to the same six-month period of 2015. Net sales of the Church’s brand were Euro 25.1 million through its DOS network, a 2.7% decrease compared to the same six-month period of 2015 (+1.5% at constant exchange rates). The brand achieved organic sales growth in Europe and Italy, its two main markets. By July 31 2016 Miu Miu’s directly operated stores had made $217,498 (amount in thousands of euro). By July 31 2016 Miu Miu’s independent customers and franchisees had made $31,654.
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The world leader in beauty, L’Oréal is present in 130 countries on five continents. L’Oréal SA is a French cosmetics company headquartered in Clichy, Hauts-de-Seine with a registered office in Paris.It is the world’s largest cosmetics company. The company is active in dermatology , toxicology , tissue engineering and biopharmaceutical research fields and is the top nanotechnology patent-holder in the United States. L’Oréal Luxe opens a unique world of beauty Its international brands incarnate all the facets of elegance and refinement in three major specializations: skin care, make-up and perfume. L’ORÉAL LUXE: LANCÔME/ GIORGIO ARMANI/ URBAN DECAY YVES SAINT LAURENT BEAUTÉ
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The Estée Lauder Companies Inc is an American manufacturer and marketer of prestige skincare, makeup, fragrance and hair care products. The company owns a diverse portfolio of brands, distributed internationally through retail channels and digital commerce, and has its headquarters in Midtown Manhattan, New York City. Brand acquisitions began with an investment in the Toronto-based M•A•C Cosmetics in 1994, which the company then acquired in 1998. Bobbi Brown Cosmetics, designed by the celebrated makeup artist, was acquired in 1995. Cosmetics Brand: Bobbi Brown/ Estée Lauder/M.A.C/ Tom Ford Beauty/ Tory Burch Beauty
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Marc Jacobs is already a master of scent with ten different perfumes (and a new fragrance, Dot, is to be launched this August), as well as three fashion lines, but is now set to enter the world of cosmetics. Design studio Established was specially selected by Marc Jacobs and Sephora, the world’s best-known specialty beauty retailer, to partner on the design of Marc Jacobs Beauty. The highly anticipated makeup line will be sold exclusively in Sephora stores across North America Marc Jacobs Beauty, under the creative direction of Marc Jacobs, has been beautifully imagined by Established and is the perfect embodiment of the brand’s DNA in a makeup line. Price Range: Lipstick/lipgloss: $28-$30 Eyeshadows: $39-$59 Foundation: $48-$55
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From catwalk-inspired cosmetics to cutting-edge skincare and timeless fragrances, Christian Dior has brought us some of the most luxurious, trendsetting, and fashionable beauty products around. Christian Dior always searched his surroundings for “spots of color that would enliven the streets of tomorrow�. It all began in 1954 with a timeless lipstick that still incarnates refined elegance today. Later, Dior launched a complete makeup range. Sometimes sophisticated, sometimes natural and always themselves, women discovered the pleasure of playing with shades... Today, the collections are continuously enriched with each season for a veritable whirlwind of colors. Price Range: Lipstick/lipgloss: $30-$37 Eyeshadows: $60-$63 Foundation: $50-$82
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S
W
1. International luxury brand
1. Limited brand awareness globally
2. Creative Designs from an
2. Their products are not made out
established fashion house
environmentally friendly
3. High brand recognition
3. Very selected target audience
4. Attracts millennial
4. Few iconic products
5. High quality products
5. Limited product assortment
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O
T
1. Extend global expansion in South
1. Competition from other fashion
America and Asia
brand
2. Social media expansion
2. Threat from cheaper/ fake
3. Take advantage of brand
imitations
awareness early in emerging
3. Loosing luxury brand value.
markets
Prices are not match with the
4. Celebrity has influenced demand
brand value.
in domestic market
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Gender: Female Age: 18 to 30 Income: Over $120,000 per year Class: Uppermiddle class and up Education: Undergraduate and up Job: Student/ White collar/ Stylist/ Cosmetic blogger
Geographic: Lives in a big city like: New York City/ LA/ Shanghai/ Tokoyo
Psychographic: Have an urban lifestyle Fashion conscious Willing spend money on luxury makeup Avant-garde, and sensual style lover Not afraid to experiment with different styles
Behavioral: Socialise and meet up with friends Follow cosmetic bloggers in social medias Shopping during the weekend
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Target Consumers
Demographic:
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Consumer Profil Name: Amy Age: 21 Job: Student City: Los Angeles Education: Marketing major at UCLA Income: Parents make combined $120,000 per year Personality: Loves comestic/ Trend-setter/ Social/ Brand conscious Hobbies: Going out on the weekends/ Shop at orgainc market for daily supply/ Party lover Shops at: Sephora/ Bloomingdates/ Nordstrom Social media: Snapchat/ Instagram
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Name: Emily Age: 31 Job: Advertising Manager City: New York Education: Master of Arts Income: $ 145,000 per year Personality: Loves shopping/ Confident woman/ Focus on quality than quantity Hobbies: Reading/ Makes purchase several times a month/ Dining outside Shops at: Neiman Marcus/ Boutiques Social media: Facebook/ Instagram
le
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Obsess over Details Small details—the touch, the exact look, the feeling it imparts—really matter. Miu Miu focus on creating High quality product and beautiful packaging design.
Stay with our target customer Miu Miu is always more about fashion than Prada, more about atmosphere, more sensual. It’s light and free. Miu Miu target women are driven by a modern spirit of exploration and experimentation in their fashion choices.
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Organic Ingredients Cruelty-Free Non-Toxic
Natural Makeup Miu Miu realize that the beauty industry lacked sophisticated natural products. Miu Miu’s makeup lines fill that void with their luxurious offerings that are gentle, non-toxic, and eco-friendly. All the products are formulated with food-quality, organic ingredients—as in, they’re good enough to eat. Makeup shouldn’t just cover skin—it should improve its condition. The tinted lipbalms moisturize with plant oils and butters and taste amazing due to peppermint oil.
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Makeup Collection
Eyeshadows A palette of 4 shades Silky-Smooth Buildable Coverage Two Editions Spring/ Summer Edition Colors: Halogen Blue/ Crystal Pink Metallic Rosy Copper/ Neutral Beige Fall/ Winter Edition Colors: Matte Pumpkin/ Matte Deep Brown Reflex Blue with Pearl/ Metallic Caramel
Lipsticks 6 Colors Double core formula: Nourished/ Moisturized High Shine Comfort Smoothness
Cushion Foundation 6 Shades Vitamin E protects against free-radicals Weightless feel 24 hours of soft-matte perfection SPF 30 30
Product Description
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Color Story FALL/ WINTER 32
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Color Story 2 SPRING/ SUMMER
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Product Inspirations
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Eye Shadows Eye Shadows Eye Shadows
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Lipsticks Lipsticks Lipsticks
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Foundation Foundation Foundation
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Beauty Set Beauty Set Beauty Set
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Packaging Packaging Packaging
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-Thank you-
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Reference: http://www.pradagroup.com/en/brands/miu-miu https://www.savoirflair.com/fashion/83357/a-brief-history-of-miu-miu http://www.miumiu.com/en?cc=IT http://www.giorgioarmanibeauty-usa.com/home http://www.purseblog.com/beauty/best-dior-beauty-products/ http://www.chanel.com/en_US/fragrance-beauty/fragrance-beauty-skincare-140910 http://makeup.lovetoknow.com/Chanel http://www.lorealusa.com/brand/l%E2%80%99or%C3%A9al-luxe/yves-saint-laurentbeaut%C3%A9 http://www.yslbeautyus.com/home http://www.shiseidogroup.com/company/vision/ http://www.loreal.com/ http://www.stylist.co.uk/beauty/marc-jacobs-launches-make-up-line
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