As the huge billboards, multimillion-dollar advertising budgets and A-list endorsements illustrate, the women's beauty and personal-care market is one of the most dynamic, competitive and profitable in the world. Storied names such as La Mer, Chanel and La Prairie have had an enduring appeal for older women, but in recent years have gained an almost fanatical following among younger shoppers.
Women's cosmetics are still predominantly led by trends from the catwalk. Specialist companies such as Bobbi Brown and MAC utilise the runway to push exciting new looks and their hottest products. The Spring-Summer 2012 shows teased trends for silvery toned eyeliner and pink blush or bronzer, which were eaten up by the fashion magazines and created buzz amongst bloggers.
But the focus will be on the lips this year, according to Nero Lam, beauty service manager at Lane Crawford. 'Bright orange and neon pink' lipstick were all over the recent runway shows, and luxury brands such as Yves Saint Laurent have followed suit. Lane Crawford now offers a Cosmetic Concierge service for women put off by rapidly changing fads and the hard sell of traditional department store makeup concessions.
Away from the catwalk, the super-premium skin-care brands will this year be focusing more on scientific innovation to keep their edge, as women look to endlessly tested and proven beauty care products. When it comes to glamour, high concept, high science brands struggle against the Diors and Lancomes of this world, but it seems women today are less enamoured with style over substance.
'Brand loyalty is sticky,' says Noelle Cheng, Hong Kong brand director for La Prairie. 'However, innovation and science are so important now and there is a big advantage in pursuing technological breakthroughs.'
Technological innovation has focused predominantly on anti-ageing products, which have become the most lucrative trend in recent years. The blockbuster launch and record-breaking sales of La Prairie's Cellular Power Infusion proved that although science might not be sexy, looking younger definitely is. La Prairie is considered to be the most premium of brands, and it eschews traditional celebrity endorsements for a commitment to research and development. Cheng believes the brand has been buoyed by women who are buying anti-ageing products when they are as young as 25 for their 'proven and fast efficacy despite the premium pricing'.