Inglot Cosmetics: How a small firm with vision successfully challenged established business rules

 Published On: Jun, 2014 |    No of Pages: 26 |  Published By: MarketLine | Format: PDF
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Introduction
Inglot Cosmetics (Inglot), a Polish cosmetics company founded in 1983, has evolved from a company known for selling cheap, powdery eye shadow trios in Polish supermarkets to one of the most internationally recognizable Polish consumer brands. It has achieved this while financing its growth solely with revenues from current operations and relying on word-of-mouth marketing.
Scope of this research
This case study identifies the size, growth, drivers and leading players in the global make-up market.
Looks at the future growth prospects of the global make-up market with forecasts.
Compares sales categories within the global make-up market.
Examines the opportunities presented by Halal cosmetics.
Research and analysis Highlights
The global make-up market is driven by increasing demand for advanced and sophisticated cosmetic products. While many Western cosmetics markets are reaching their saturation point, emerging and developing economies present lucrative revenue opportunities. Halal cosmetics are rising as one of the fastest growing consumer segments in the world.
Inglot Cosmetics started as a chemical producer and within only a few years, taking advantage of the changing political situation in Poland, the company became a large cosmetics manufacturer with a presence at all major beauty gatherings and events around the globe.
Within 20 years Inglot expanded rapidly and established its presence on six continents, in more than 57 countries. Its growth strategy relies solely on a franchise model. At present, Inglot is a record-setter among Polish firms selling abroad. Its breathable nail polish formula, called O2M, became a surprise hit with Muslim women.
Key reasons to purchase this research
How is Inglot successfully challenging established business rules to fight for a place in a difficult market?
What are the threats and opportunities in global make-up market?
Who are the main competitors and the main selling categories within the global make-up market?
What are the main growth drivers of the global make-up market?

OVERVIEW
Catalyst
Summary
OPPORTUNITIES IN GLOBAL MAKE-UP MARKET
Global make-up market expected to grow with CAGR of 4.8%
Face make-up sales generate over one third of market revenues
L'Oreal leads global make-up sales
Cosmetics sales driven by increasing demand for multi-purpose products
Demand for Halal make-up increasing at double digit rate
Lack of certification challenging growth of Halal market
INGLOT: SMALL FIRM WITH BIG VISION
Inglot riding the wave of Polish business creation
Fast response to increased competition brought by liberalization
Own distribution network brings better sales margins
Betting on quality allows savings on advertising
A bit of patriotism that makes financial sense
Fashion brand quality almost at a drugstore price
Freedom system offers over 3 billion combinations of colors
INGLOT BECOMES ONE OF THE MOST RECOGNIZABLE POLISH CONSUMER BRAND
Exploiting the potential of American markets
Make-up prices tripled in Middle East
Pray without worry with breathable nail polish formula
Banking on increasing consumer affluence in Asia-Pacific
Expansion model hinged on franchising proves profitable
Inglot breaks the pattern and becomes one of the most recognizable Polish consumer brands globally
Inglot's revenue increased by 40% in 2011
Concerns about the future after Mr. Inglot's sudden death
CONCLUSIONS
Challenging established business rules to fight for a place in a difficult market
Inglot proves small brand can succeed in a highly competitive industry
Change of ownership may challenge Inglot's further growth
APPENDIX
Definitions
Sources
Further Reading
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Disclaimer

TABLES
Table: Global make-up market revenues, 2008-13; ($bn)
Table: Projected global make-up market revenues, 2014-18; ($bn)

FIGURES
Figure: Global make-up market – segmentation by category, 2013 (%)
Figure: Global make-up market – segmentation by category, 2013 (%)
Figure: Inglot Cosmetics
Figure: Inglot stores
Figure: Inglot billboards
Figure: Inglot Cosmetics range of products
Figure: Inglot Freedom System
Figure: Inglot Virtual Color makeover platform
Figure: Inglot O2M Breathable Nail Enamel

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