World`s Five Largest Cosmetic Brands Worth Over $40bn in 2020, a $4bn Increase Despite COVID-19 Crisis
The COVID-19 outbreak has severely impacted the multi-billion-dollar cosmetics industry, causing thousands of closed stores and weak first and second-quarter sales.
However, the largest cosmetics companies and top beauty brands globally managed to increase their value despite the coronavirus crisis. According to data presented by Buy Shares, the world’s five largest cosmetic brands hit over $40bn value in 2020, a $4bn increase year-on-year. With $11.7bn in brand value, L’Oréal ranked as the largest cosmetic brand globally.
L’Oréal Brand Value Jumped by $1.3bn in 2020
In 2019, the brand value of the French multinational cosmetic giant L’Oréal amounted to $10.38bn, revealed the Brand Finance 2020 annual report. In the last twelve months, this figure rose by $1.3bn, an 13% increase year-on-year.
The report revealed that L’Oréal`s brand value increase had been primarily boosted by steady growth in sales across key markets in the last decade, especially in Asia, where over 20% of net sales are concentrated. The North American market sales rose by nearly 20%, mostly driven by CeraVe, SkinCeuticals, La Roche-Posay, and Vichy, which all delivered double-digit growth. The Group has also benefited from its digital transformation strategy, especially in Eastern Europe, where online sales surged by 50%.
Gillette ranked as the second-largest cosmetic brand in 2020. Statistics show the value of the US brand, owned by the multinational corporation Procter & Gamble increased by 18% in the last four years, rising from $7.1bn in 2016 to $8.48bn in 2020.
With almost $7.4bn in brand value, NIVEA represents the third-largest cosmetic brand globally. In 2016, the German personal care brand vas valued at $6.1bn. In the next twelve months, this figure rose to nearly $6.7bn. After a slight drop in 2018, the NIVEA brand value jumped to $6.8bn last year and continued rising. Statistics indicate the value of brand owned by the Hamburg-based company Beiersdorf Global AG rose by almost 20% in the last four years.
Estée Lauder Brand Value Surged by 41% in Two Years
The Brand Finance data also revealed that the brand value of Estée Lauder, the fourth-largest cosmetic brand in the world, jumped by 27% in 2020, the most significant increase among the top five companies. In 2018, the US skincare brand was worth $4.4bn. Over the last two years, this figure surged by 41% to nearly $6.3bn in 2020.
Statistics show that 2019 has been the most successful year in Estée Lauder’s history, with the global net sales reaching almost $15bn, an 8.6% increase year-over-year. Although the US corporation reported a net loss of $6 million due to the COVID-19 outbreak, statistics show its online sales skyrocketed in the first half of 2020.
The value of the US skincare producer Clinique, the fifth-largest cosmetic brand in the world, jumped by 15.4% year-over-year to $6.22bn in 2020.
Analyzed by geography, the United States represents the leading region globally, with $59.5bn in the total value of the eighteen leading cosmetic brands and 42% market share in 2020. French cosmetic companies ranked second with $40.1bn brand value and 28.3% market share. Japan, Germany, and the United Kingdom follow, with $12.6bn, $9.5bn, and $8.5bn value, respectively.
Lagos State to Support Businesses Looted by Hoodlums
Lagos State to Support Businesses Vandalised and Looted by Hoodlums
Lagos State has announced plans to support businesses looted and vandalised by hoodlums last week.
The Deputy Governor of the stated, Obafemi Hamzat, made this known in a series of tweets put out on Friday.
He directed businesses vandalised in the state to fill a form attached through the link below.
“If you are a Lagos based business and your store got looted/vandalized this week, please fill this form by @LSETF https://t.co/lwPiXvFzTp. Let’s do what we can to support you,” he tweeted.
This was after Governor Babajide Sanwo-Olu said the state had activated the process of healing the destruction and massacre that happened earlier in the week when security operatives in army uniforms opened fire on armless #EndSARS protesters.
Sanwo-Olu said, “My heart bled after I went out today for a first-hand assessment of the destruction of assets of the Government and private properties. The level of destruction observed indicated that the violence was more than just a peaceful protest and agitations for police reforms. The proportion of devastation is a lot. This is not the Lagos that was handed over to me on May 29, 2019.
“Moving forward from the destruction, we have to continue the process of healing ourselves. We need to stop some of our citizens still using social media to instigate or incite the people. It will not be under my watch that we will lose the city that has the largest economy in the entire black nation. Enough is enough. I have moved around and I saw that our people want peace. On this, we are committed to bringing lasting peace back to the State.”
TVC Resumes Operations in Lagos Office Following Hoodlums Attack
TVC Commences Operations Less Than 72 Hours After Hoodlums Attacked and Destroyed the Company’s Lagos Office
Television Continental (TVC) station has resumed operations less than 72 hours after its Lagos office was attacked by hoodlums that hijacked the #EndSARS protest.
The television station was attacked on Wednesday by criminals would believe that the media platform was owned by one of the top Buhari supporters, Mr. Bola Ahmed Tinubu.
The attack followed the shooting of unarmed #EndSARS protesters, who had gathered to protest against the activities of the Special Anti-Robbery Squad (SARS) unit of the Nigerian Police Force (NPF) at the Lekki Toll Gate on Tuesday.
The peaceful protesters were shot by security operatives in Nigerian Army uniform before the commencement of curfew imposed by Governor Babajide Sanwo-Olu of Lagos State.
The killings now tagged Lekki Massacre attracted global attention as global leaders condemned the Federal Government or whoever ordered the shooting and called for an immediate investigation into the matter.
On Wednesday, criminals allegedly sponsored by interested parties to dislodge peaceful protesters took advantage of the situation to wreak havoc across Nigeria’s commercial hub, Lagos State, as several private establishments businesses were attacked and looted by these unscrupulous characters.
One of the establishments attacked was the National Newspaper also linked to Mr. Tinubu.
The hoodlums stormed TVC on Wednesday morning during a popular morning show, Your View, anchored by Mrs Morayo Afolabi-Brown, the programme did not end before the television station went off air as it was immediately set on fire.
However, Investors King gathered that TVC resumed operations on Saturday morning, although regular programs were yet to resume fully.
As at the time of writing, the station was airing promos of various programmes and from what we gathered, regular programming will return very soon especially from its Abuja office.
Ambassadorial Deal: Puma Names Wizkid as Brand Ambassador
Wizkid is Puma Latest Brand Ambassador
Puma, global sportswear, has named Nigerian superstar, Ayodeji Ibrahim Balogun popularly known as Wizkid as one of its global ambassadors.
Wizkid, 30, is the new Puma x JD ambassador for the relaunching of the Puma Suede Classics range.
Speaking on the deal, Wizkid said “It’s an honour to be the face of the new JD x Puma Suede Classics campaign.
“Puma is a brand I’ve loved and respected growing up, and so the decision to become an Ambassador felt completely natural. The Puma Suede is a classic shoe that can be worn by anyone at any age and I think my fans will really connect with that.”Also speaking on the partnership, Puma’s Sportstyle marketing director, said “We’re thrilled to have Wizkid as the face of the new Puma x JD Suede campaign.
“A truly innovative and exciting artist in the music scene, Wizkid embodies the passion and hustle we look for in someone to represent Puma and we look forward to working with him for the AW20 season.”
Wizkid is a Nigerian musician and songwriter that has worked with Beyonce, Drake, Wale and other international superstars.
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