Gen Zs, soaring luxury market inspire Lancome Philippine comeback
MANILA, Philippines — For the French beauty brand Lancome, now is the right time to reintroduce itself to the growing luxury market and evolving discerning taste of Filipinos when it comes to beauty.
Lancome was last seen in the Philippines around 2014, 2015. Its reintroduction this year comes with its full-range beauty portfolio for skincare, makeup and fragrance, with the added bonus of an experiential pop-up store in Greenbelt 5. Apart from featuring some of its well-loved skincare, makeup and hero lines, the store also features beauty tech tools such as the Pro-Radiance Booster and Skin Screening for personalized customization.
"There are different reasons why we felt it was really the right moment to launch Lancome. One was the luxury market is really soaring, not only in luxury beauty. You see that in luxury fashion, luxury in design. There are so many categories in luxury that have soared," said L'Oréal Philippines managing director Yannick Raynaud to select Philippine press during the pop-up store's recent launch.
Lancome is one of the prestigious brands owned by the L'Oreal Group.
"Luxury has changed as well. The luxury of yesterday and today have changed because of Gen Zs, who are actually reinventing the luxury market in some ways. They are more demanding in terms of sophistication, personalization, elevated experience but also responsibility — demanding brands not just providing products, but providing meaningful experience," she added.
L'Oreal Luxe division general manager Son Ha Nguyen affirmed this observation.
"We see a dynamic growth in the Philippine market. We see a 50% growth year after year... Over the past few years, the consumer behavior have changed. Skincare has become more essential. Makeup is coming back with the masks coming out. Makeup is doing very well. Fragrance is booming," Nguyen said.
He added that apart from these, they also see a rising affluent consumer base in the country as well as the demand for more high quality and well-crafted items.
Citing a 2018 study titled "Beyond the Crazy Rich: The Mass Affluent of Southeast Asia," it is projected that the ranks of the mass-affluent class in the Philippines to increase by 8% per year from 2017 through 2030.
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With its return, the brand is putting the spotlight to some of its notable products.
Among these is the Advanced Génefique Face Serum, which it said is a patented serum containing six billion pre- and probiotic fractions in every bottle that helps strengthen the skin’s protective moisture barrier to create heathy and glowing skin for its users.
Its lipsticks are also popular, and the label introduces the L’Absolu Rogue that comes in cream and matte finishes.
Fragrance is a big market anywhere in the luxury department, and the brand introduces its hero line, Idole. It features a fresh and floral perfume that bursts with different notes — citrus, rose, jasmine, and white musk, and is layered over a vanilla base.
Raynaud said that when they started to think about the brand's "relaunch" in the country, they wanted to think they are starting something new.
Apart from the pop-up store, they are also planning on opening one stand-alone store this year and are looking at kiosks in high traffic areas of some malls.
