Consultancy firm, Brand Finance reports that color cosmetics sales are still going strong despite big consumer trends like the 'no make-up selfie'.
The latest study from the market consultants report that the total brand value of the world's top 50 cosmetic companies rose by almost 5% over the last year, with French and US brands dominating the list.
Some of the most powerful brands within that category include Estée Lauder, Lancôme, Natura and Shiseido which analysts say have yet to be affected by this trend.
“Thousands of dollars raised by the #NoMakeupSelfie trend pale in comparison to the total brand value of these cosmetics brands, which is up from $101.5 billion in 2013 to $106.2 billion this year,” BF reps report.
Make-up sales going strong
The survey's findings also reveal the world's most powerful cosmetics brand to be L'Oreal, followed by Avon, with both companies seeing their brand value increase by 24% over the last year.
The color cosmetics' brand value is up 24% to $6.84 billion while the brand has been strengthened, and has been upgraded by Brand Finance from AA to AA+.
"America’s most valuable cosmetics brand Avon made a remarkable recovery," the analysts report.
"A drop in sales and bribery allegations in China had seen brand value fall 35% between 2012 and 2013. However; CEO Sheri McCoy’s robust approach, creating $400m savings at the expense of 1,500 staff, has seen the beginnings of a turnaround," they add.
Meanwhile; the findings indicate that Cover Girl is the highest new entry, with a brand value of $1.24bn thanks to celebrity endorsements include Katy Perry, P!nk and Janelle Monae.
L’Oreal still topping the list
L’Oreal is ranked as the only $10 billion cosmetics brand in the world.
Its value is up 24%, growing from $8.7bn last year to $10.8bn in 2014. The French company’s growing brand value is in line with its strong business performance, as enterprise value was up from $26.2bn to $37.6bn.
“The key to L’Oreal’s success is its unrivalled marketing focus and investment. Its marketing graduates, drawn from the world’s top universities, are well trained and well resourced,” says
Brand Finance chief executive David Haigh.
“With the perfectly constructed and enduring ‘you’re worth it’ slogan, L’Oreal has pulled off the trick of simultaneously capturing the mass market while maintaining an air of exclusivity,” he adds.