Luxury fashion brand Hermès has broadened its offerings in the beauty sector, introducing a new line of products that includes mascara, eyeshadow, and makeup brushes.
This decision aligns with the goal of catering to the aspirational shopper, who may not have the means to purchase the brand’s high-end clothing and accessories but still aspire to the lifestyle this brand symbolizes. The move occurs against the backdrop of rising inflation.
Luxury brands are recognizing beauty products as a means to attract new customers. After all, these beauty items prominently display their branding, permitting aspirational shoppers to inject a touch of luxury and exclusivity into their daily routines.
By broadening their presence in the beauty industry, brands like Hermès can tap into the yearning of aspirational shoppers for a touch of luxury at a more attainable level, all the while upholding an aura of elegance.
Products such as fragrances, cosmetics, skincare, and accessories offer consumers a chance to possess a fragment of the luxury brand’s essence, rendering it an appealing option for those with aspirations to elevate their way of life.
As reported by PYMNTS, consumers believe that the financial strains on their household budgets are unlikely to ease in the foreseeable future.
The University of Michigan’s initial consumer sentiment reading for October declined from September’s 68.1 to 63. The assessment of current economic conditions decreased to 66.7, down from 71 in the previous month.
However, it is the outlook for inflation that might, and perhaps should, give retailers and other merchants reason for concern.
In a survey conducted by the university, consumers anticipate inflation to reach 3.8% one year from now, compared to 3.2% just last month.
Considering this, as the holiday season approaches, consumers are grappling with the desire to buy gifts while being mindful of their budget constraints. In this context, even if they can’t allocate funds for a high-end clothing item, they might find reason to indulge in the beauty category.
Le Regard Hermès, introduced Sunday (Oct 15), encompasses a collection of six eyeshadow palettes that can be refilled, known as Ombre d’Hermès, the Trait d’Hermès Mascara, and a set of four makeup brushes called Les Pinceux Hermès. This product range was conceived under the creative direction of Gregoris Pyrpylis, who assumed the role of Hermès Beauty’s creative director in 2022.
In 2020, the French luxury brand ventured into the cosmetics industry with the introduction of lipsticks, and since then it has expanded its beauty range to encompass nail polish and fragrances. Their Le Plein Air complexion collection was unveiled in March. While the beauty segment remains relatively modest in size, the company saw a 15% increase in perfume and beauty sales during the year 2022.
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