Fashion houses and designers branch out into fragrances and cosmetics
Fashion houses tread a fine line when they branch out into fragrances and cosmetics, but the prize when they get it right can be phenomenal
From Chanel No. 5 to Dior's Addict, when a fashion house looks to fragrances and cosmetics for business, it's testimony to their place in luxury's hall of fame. While fashion and accessories come with heftier price tags, lip tints and fragrances dripping with a brand's essence present themselves as more "affordable" yet equally coveted options.
Many fashion houses have jumped on the bandwagon - Tom Ford, Burberry, Dolce & Gabbana, Gucci and Christian Louboutin. Lanvin, 3.1 Phillip Lim and Proenza Schouler have also opted to work with beauty brands on one-off capsule collections instead of launching full collections.
The results have been phenomenal. Tom Ford's sensual scents, high-pigmented eye colour palette and lip colours have been flying off the shelves since their 2007 launch. Tom Ford Beauty is expected to turn over more than US$275 million in retail sales this fiscal year, according to reports.
"I've cared about cosmetics and make-up since I was a kid, and at Gucci, I'd spend days working with a make-up artist to perfect the show look," says Ford, a former Gucci creative director who partners with industry giant Estée Lauder for his namesake beauty line. "I never had a desire to wear the clothes, but make-up? That I'm serious about."
Many have been tempted by the riches. Burberry expects 25 per cent growth in its beauty wholesale revenue in 2015. Gucci and Dolce & Gabbana's long-standing fragrance line with Procter & Gamble Prestige has convinced them to strengthen their collaboration. Dolce & Gabbana launched in Hong Kong in November last year and will soon release its Sicily-inspired luxury skincare line. Gucci Beauty launched this month in Hong Kong and is available at exclusive counters around town.
Entry-level price points have helped brands expand their client base. "Of course, cosmetics are more accessible," Ford says. "Our customer is the Tom Ford woman and anyone who aspires to be [one] if they can afford it."
Phillip Lim agrees. "It reaches out to new customers," he says. A capsule nail varnish collection by the Council of Fashion Designers of America honouree, which was launched in collaboration with NARS this summer, has sold out. Compared to his signature boxy Pashli satchel, which fetches more than HK$10,000, the nail varnish, retailing at HK$180 a pop, is much more affordable.
Fashion brands tread a fine line with their brand image when they expand into beauty and cosmetics. Control and moderation through exclusive distribution channels and price points are tactics used to maintain the luxury image.
"Beauty is approached the same way we do with fashion - we make luxury products," Ford says about his beauty collection and luxury perfumes, some of which cost more than HK$4,000.