Leadpreneur's
22 Mar 2023
Success Story of India's most Successful Beauty Brand...
If colour be to beauty what music is to mood, play on!
Holds the largest fashion event in the country, Lakme Fashion Week, a lifestyle fashion event where people showcase their love for beauty products and allow Indian fashion to gain recognition among global trends.
About Lakme:
Lakmé, which takes pride in being the Indian beauty authority for more than 65 years, was the first cosmetics company in the nation to offer makeup to Indian women. It is a full-service beauty brand that offers skincare, color cosmetics, and beauty treatments through the network of Lakmé Salons.
Founder, Founding Year, and HQ Location:
Lakme was founded in 1952 by J.R.D. and Simone Tata. Its headquarters are in Mumbai, Maharashtra, India.
Product Marketing countries:
its products are accessible in nearly 70 countries around the globe.
Business Model:
It is a D2C brand
D2C is an acronym for direct-to-consumer. A company manufactures a product on its own facilities and distributes it through its own channels.
These channels might include an e-commerce site, social media, and a physical store. It is applicable to practically every industry.
Growth:
Lakme has developed to have a diverse variety of goods and services encompassing all elements of beauty care and supplying items from head to toe to delight customers.
These include hair, teeth, ears, face, and body care products, as well as services such as Lakme beauty salons. The firm operates over 450 Lakmé Salons in prime locations in over 125 towns and cities.
Lakmé Salons are dedicated to the natural selection and exploration of the modern Indian feminine. Lakmé Salons provide a wide range of beauty and grooming services that are proud to reach international standards.
Even though the business had a significant online presence through its websites and social media accounts, it increased its efforts at the start of the pandemic to make sure it could continue serving its clients' needs and recommending home care treatments for them until they were ready to welcome them back into the salon. Additionally, the business used its franchising concept to spread its presence in Tier I, II, and III cities in India.
Every Lakmé Salon features a separate shop area so that clients may buy the goods that their "backstage specialists" have suggested to them after their treatment. Here you may find the top international items from its partner brands, such as Moroccanoil, TIGI Bedhead, Schwarzkopf, and Dermalogica.
Additionally, the company has teamed up with Bombay Shaving Company to expand its service options.
Investments:
To aid in the expansion of Lakmé Cosmetics, Realza Capital becomes a shareholder in the company. The Spanish private equity group hopes to strengthen its position in the professional hair care industry and assist the company's expansion into foreign markets with this investment.
Total Revenue:
For the fiscal year that ends on March 31, 2022, Lakme Lever Private Limited expects operating sales ranging from INR 100 crore to INR 500 crore. Its EBITDA has grown over the prior year by 697.5%. Its book net value has also improved by 7.64% over this time.
Advanced Technologies:
Their well-designed website has captivating UI components, with detailed info on products, which helps customers in having a great shopping experience.
“Virtual try-on” also helps people to experience how the makeup would look on their faces virtually with the help of their phones and tablets using augmented reality.
Lakme works on micro-emulsion technology to create a fine lightweight emulsion that can be easily absorbed by the skin ensuring smooth application.
Marketing Strategies:
Lakme markets its products using both conventional and digital approaches. It uses television, newspapers, fashion magazines, billboards, and other media to promote its advertising campaigns. Additionally, they use social media platforms like Twitter, Facebook, and YouTube to promote their goods. They have used an aggressive marketing approach, which has helped the business win the patrons' confidence.
In the brand's debut campaign, modernism and Indianness were combined. Supermodel and 1980s heartthrob Shyamoli Verma served as the brand's initial spokesperson. If color is to beauty what music is to mood, play on, read the slogan of the advertisement where she was shown playing a sitar and flute.
Lakme recognized that the greatest approach to draw clients was to project the idea that they, too, could be stunning and sophisticated like their favorite celebrities. Thus, they invited Rekha, a timeless beauty, and then Aishwarya Rai Bachchan, the 1994 Miss World, to serve as the brand ambassadors, capitalizing on Indian women's love for and obsession with Bollywood beauties.
Kareena Kapoor Khan, a leading figure in Bollywood fashion, is now the company's brand ambassador. Many Indian actresses have appeared in Lakme ads, including Shraddha Kapoor, Katrina Kaif, Bipasha Basu, Ananya Pandey, Lisa Hayden, and Mrunal Thakur. Lakmé's advertising campaigns consistently demonstrate their commitment to promoting women of all ages and ethnicities.
Future:
The brand's mission statement makes it clear that women, particularly Indian women, are its primary target market. It becomes obvious that the brand knows exactly what it wants to achieve and why it wants to do it. It aims to highlight the uniqueness, strength, and specialness of Indian women.