African-American Hair-Care Opportunity To Reach $774 Mil. By Year-End
This article was originally published in The Rose Sheet
Executive Summary
Mintel says despite growth in the market for hair care tailored to Black consumers, in many cases African-Americans’ needs are still not being met. “Part of the challenge is that many companies aren’t marketing their products to Blacks using the right casting and culturally relevant messaging,” the market intelligence firm suggests.
You may also be interested in...
L’Oreal To Enrich Its Multicultural Offering As Parent To Carol’s Daughter
Firm says the acquisition of natural-positioned hair- and skin-care marketer Carol’s Daughter will enhance its multicultural beauty portfolio, which currently includes SoftSheen-Carson at the mass level as well as salon brand Mizani. The announcement was met with a mixed reaction from the brand’s fans, with some welcoming the news and others concerned that product quality will be compromised.
P&G Looks To “Transform” Categories, But Ackman Presses For Results
CFO Jon Moeller says product launches will make “obsolete our existing categories and transform them in ways that create competitive advantage” for the firm. Activist investor Bill Ackman, however, says P&G is “vastly under-earning relative to its intrinsic earnings power.”
P&G Restores Volume Growth In Beauty, Grooming After Pricing Run
Procter & Gamble reports strong consumer spending in the US and Europe after a 3% increase in product pricing over the past year. Dragging on fiscal third-quarter results, sales of SK-II in China fell 30% for the January-March period, while lower incidence of cough and cold impacted Health Care performance.