Procter and Gamble seal IMAN cosmetics deal

- Last updated on GMT

Related tags: Procter & gamble, Cosmetics

One of the world's largest beauty companies, Procter and Gamble
(P&G), has announced a licensing agreement which allow it to
add IMAN and I-MAN skincare products to its extensive cosmetics
portfolio - as well as giving it access to the lucrative
multi-racial, multi-cultural consumer markets. Tom Armitage
reports.

The multi-year licensing agreement with Impala will give P&G design and distribution rights to a number of beauty products - including the key IMAN and I-MAIN trademarks, providing marketing opportunities in six global markets worldwide.

The IMAN cosmetics range has a number of products - including cleansing and toning solutions, moisturizers and lipsticks - all of which are formulated and marketed exclusively for women with "skin of colour".

"This is a strategic next step in the evolution of the IMAN brands and what I offer women with skin of colour around the world"​, commented brand founder and former supermodel Iman. "I look forward to working with Marc Pritchard and the P&G team to grow our retail presence, while staying true to my customers and their unique beauty needs"​, she added.

Marc Pritchard, president of P&G global cosmetics and hair colourants also announced that P&G is, "thrilled to partner with IMAN, an innovative leader in creating the beauty products designed for women with skin of colour"​.

"IMAN and I-IMAN nicely complement out existing portfolio of global cosmetics brands and will help us serve even more women by providing them with products to help them look and feel beautiful",​ he added.

And the reasons as to why P&G want to invest in the IMAN and I-MAN brands are obvious. According to a report by market researchers Packaged Facts​, ethnic women represent $723 billion in purchasing power, which is predicted to increase to $1 trillion by 2008 - an undeniable window of opportunity that any cosmetics manufacturer would be keen to exploit.

Commenting on the launch of the IMAN cosmetic range in 1994, former supermodel Iman, says that "I could never find exactly what I needed for my own make-up"​ and notes that prior to the company's launch women with skin of colour were considered an "invisible" consumer group. "With P&G, I can now offer my products to the global, multi-cultural, multi-racial woman that is my customer",​ she said.

Related topics: Business & Financial

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