'Our brands continue to demonstrate growth well in excess of the category average, driven by robust consumer demand for independent masstige
brands, as well as our success in expanding shelf space through innovation and cross-selling,' said Marc Anthony Venere, Founder and Chief Executive Officer of MAV Beauty Brands.
The report cited reasons of high spending per capita, affordable prices, strong consumer confidence, high literacy rates, young population with a high social media exposure and on top of that new entrants with the aim to fill the gap in the "masstige
She said the focus will be doubling down on the company's masstige
Glass serves as a point of differentiation for premium players to stand out from masstige
and mass players in a competitive beauty and personal care environment.
"Indonesia is a market with a huge potential mostly untapped, where Japanese masstige
brands could perform well."
Rounding out its strategic portfolio of non-competing brands, Markwins adds Lorac's prestige consumer to join masstige
brand Physicians Formula, entry point brand wet n wild, leading ethnic brand Black Radiance, top youth brand Lip Smacker, and its successful collection business to continue to cater to an all-inclusive consumer base.
"However, we have identified a significant market gap in the "masstige
" category, where products are sold at an average retail price between Dh100 and Dh250.
Enhanced category adjacencies, such as moving fashion next to perfumery and cosmetics, and introducing a new masstige
toiletries zone offering more affordable products, helps to engage customer interest and maximize the sales opportunity.
The mix at SM Beauty is wide and varied, ranging from masstige
(a portmanteau of mass and prestige) brands to luxury items.
The category produced five growth brands, including category leader Physicians Formula Butter Bronzer, a brand that was acquired by Markwins Beauty Products in 2012 as part of its strategy to add an up-market brand in the "masstige
" cosmetics space.
Helena, Calif., and most "masstige
" brands (bottles selling for $10-$20 retail) at the facility in Paso Robles, Calif., that was once Meridian Winery.
" brands like Olay have seen sales sag.