Blooming dales

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Information about Blooming dales

Published on January 9, 2008

Author: Vilfrid


Looking Past the Looking Glass:  Looking Past the Looking Glass AAFA Presentation January 24, 2006 Howard Kreitzman Vice President, Cosmetics & Fragrances Bloomingdale’s Major Trends in Beauty:  Major Trends in Beauty The aging population has had a profound effect on the Beauty Business Growth of High End Skincare Products & Brands Explosion of High-Tech Category Sales Doctor Brands Skincare Luxury Makeup Cosmetic Surgery At Bloomingdale's, our average customer is 46 years old Growth of High End Skincare Products:  Growth of High End Skincare Products As technology & microbiology have advanced, discoveries in the laboratory are being translated into products at an accelerated rate New products that are being introduced to the marketplace have more concentrated levels of active ingredients, and reduced concentration of delivery agents, making them more efficacious Many products have as their base, natural ingredients that are in very limited supply “Procedure in a Jar”, microdermabrasion Growth of High End Skincare Products:  Growth of High End Skincare Products According to NPD reports, within the top dollar sales of prestige skincare products, 8 out of 10 top ten items were $55.00 and higher at retail, and for the most part outpaced their inventory share Highest priced lines experienced significantly better sales growth than the total Beauty Category at Bloomingdale’s; in particular, Crème de La Mer, La Prairie Most premium priced products from the major brands also sold at significantly high levels; Chanel #1 Collection Skincare, Lauder Renutriv, Lancome Absolue There is little or no price resistance Age defying products have replaced eye products as the second largest category, after moisturizers The importance of treatment rooms Explosion of High-Tech Category Sales:  Explosion of High-Tech Category Sales Strivectin has redefined high tech skincare, creating a new business model that our industry has embraced Through October, this brand has captured more than $43 million in sales, and while declining, has still captured the #7 rank YTD of all skincare products At Bloomingdale's, sales of high tech products now include Hylexin, Sovage, & Idebenol, all from Klein-Becker Pharmaceutical Laboratories, as well as Freeze 24, and Prevage from a joint venture between Elixabeth Arden & Allergan Labs We have experienced very strong results from all of these brands and products Doctor Brands Skincare:  Doctor Brands Skincare “Doctor Brands” have added yet another dimension to our industry, usually at a high average retail Dr. Perricone, largest of the group, continues to drive double digit increases in sales, delivering +11% in October, while increasing market share* New to the market, Drs. Rodan & Fields present a significant opportunity in a very specific category, well backed by the Lauder Corporation New brands emerge on an almost daily basis, who will survive? For Bloomingdale’s, this category has slow in gaining momentum, but we believe that a significant opportunity exists Luxury Makeup:  Luxury Makeup “A Rising Tide Lifts All Boats” As the luxury categories in general experience significant growth, makeup has been carried along by the trend If she’s carrying a $2500 Chanel handbag, she doesn’t want to pull out a $12 lipstick In the not too distant past, the highest price lipstick we carried was at $23.50, our current assortment includes a $50 premium product from La Prairie. In April, Chanel will introduce a new high end lipstick, Rouge Allure at $29.50, their highest price ever Our strongest growth brands are at the highest price levels, YSL, Dior, Trish McEvoy Foundations too, have moved upscale, and there are a few on the market with treatment properties Cosmetic Surgery:  Cosmetic Surgery Tobe, in it’s latest publication, “Youthfulness is the New Black”, reports that surgical and non-surgical procedures have jumped 44% over the previous year to 11.9 million in 2005 This confirms that plastic surgery is now moving into the mainstream, and is considered a viable option for improving one’s appearance and restoring youthfulness This also suggests that the appetite for alternative, non-surgical solutions continues to grow, as well as the virtually untapped market for post operative healing products A $500.00 face cream is cheaper than a facelift Summary:  Summary Discoveries in the lab are getting to counter much more quickly, and with more impressive claims, than in the past Aging consumers are embracing these new products There is no price resistance to high end products Luxury cosmetics are being brought along by this tide The increase in cosmetic surgical procedures provides multiple opportunities

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