Colour Cosmetics in Colombia

PROSPECTS

Colour cosmetics is set to see a positive performance over the forecast period

Colour cosmetics is projected to increase in value terms at current prices over the forecast period, with all categories expected to see positive performances. Colour cosmetics is benefiting from growing interest in, and access to social media networks, which can bring consumers closer to make-up trends and techniques, making them an everyday routine.

Consumers focusing on eye make-up

Earlier in the review period, the Colombian market was focused on lip products, which is the second largest category in colour cosmetics. However, a rising number of consumers have shifted towards eye make-up, which posted the fastest growth in 2018.

Drugstores and beauty specialist gain ground

Over the forecast period, drugstores and beauty specialist retailers, such as Farmatodo and Cromantic, will become increasingly important distribution channels in colour cosmetics, supported by a rising number of outlets and wider product offerings in all colour cosmetics categories. Farmatodo and Cromantic are known as go-to destinations for affordable colour cosmetics, as well as premium brands.

COMPETITIVE LANDSCAPE

Laboratorios de Cosmeticos Vogue SA leads colour cosmetics

Laboratorios de Cosmeticos Vogue SA was the leading player in colour cosmetics in value terms in 2018. The company has a wide portfolio, with brands across all colour cosmetics categories.

Launch of new brands at stand-alone outlets

La Riviera has lost its position as the largest premium make-up, skin treatment and fragrance chain in Colombia, thus companies in the Colombian market have had to reposition their brands and make choices regarding their distribution partners in the country. Beauty specialist retailers are expected to gain ground in colour cosmetics, with growth driven by expansion in outlet numbers and by the introduction of new brands, such as Miniso and Tonymoly.

Product innovation is key to growth

In order to remain relevant in this fast-moving category, L’Oréal, which has the brands Vogue, Maybelline and NYX Cosmetics, among others, under its umbrella, has invested heavily in new product innovation. In 2018, for example, Maybelline launched its new Superstay Matte Ink lipstick, Total Temptation washable mascara and Superstay 24-hour foundation.

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