As per the study done by Euromonitor, the anti-ageing market in India is set to grow 132 per cent between 2013 and 2018, much faster than the skincare market growth of 67 per cent.
For Amway also anti-ageing is the fastest growing segment within the beauty category that is growing by around 30 per cent. It currently contributes to 35 per cent of the sales of Artistry and is expected to take it to 40 per cent by 2016.
“Earlier the products available in the anti-ageing segment were meant to delay signs of ageing. As the market is evolving the products now in demand are the ones which reverse the visible signs of aging process. The segmentation in the category is happening with the market maturing,” said Shveta Paul, Category Head - Beauty & Personal Care, Amway India Enterprises.
The segmentation also has helped the players introduce higher-priced newer products. According to Paul, Artistry is the leading brand in the super premium segment which has competing brands like Clinique, Estée Lauder and Lancôme. Amway hopes to double the sales of Artistry to Rs 200 crore in two years.
Similarly Attitude, the premium beauty brand of Amway too is expected to touch Rs 300 crore by that time. “Artistry targets the evolved and mature customers in the age bracket of 30 to 50 years, while Attitude is for the younger customers. Being a premium brand, Attitude has a larger customer base. Skin whiteners, hair colours and colour cosmetics are driving sales of Attitude,” she said.
Beauty products are growing much faster than Amway’s personal care products. The penetration of personal care products is deeper than beauty products. Sales volumes are high in personal care segment but lower price points restrict the revenue growth to 12 to 15 per cent. Source : http://www.mydigitalfc.com www.mlmnewspaper.com
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