Lakme, positioned to be India’s biggest cosmetic brand worldwide is owned by Hindustan Unilever Ltd. and was founded in 1952. The brand has gained popularity mainly for its Lakme Salon and Lakme Fashion Week events conducted in the country. It is quite active even on social media via the Lakme Fashion Week page.
Lakme has always preserved the trust of its customers through its fabulous product quality. Starting from Bollywood celebrities to middle-aged working/non-working women, from teenagers to adult women, the brand has been stealing million hearts. In the brand trust reports, Lakme has been ranked 36th among the Indian brand trust list.
The Segmentation
Initially, Lakme started its journey as being a 100% subsidiary of the Tata Oil Mills (TOMCO) in 1952. The brand comprises its business segments into Skincare, Make-up and Lakme salon. These three segments gradually reached to the largest group of consumers. Therefore the strategic business segments of the company are starred in the BGC matrix. These strategies make the brand different from the other.
It also stands unique by identifying consumer needs with its phenomenal product planning and execution just at the right time.
The Implementation
The brand has taken into account the consumer service, quality, cost-saving offers for the customers. The company known as the Inform of Lakme Lever Private Limited (LLPL) holds about 360 salons, where 300 are franchised ones and 60 salons are owned and controlled by LLPL. Also, the Lakme Fashion Week events and the constant updates from the Lakme Fashion Week page reveal the true potential of the brand.
The Target Segment
The brand has grabbed the attention of the youth and the upper or upper middle societies through its network salon by efficient professionals and experts.
The brand aims to focus more on skin care and colour cosmetics, due to which it attracts the age group of 35-55 years. People falling within this group are primarily concerned about maintaining their beauty and preventing fast aging. They usually rely on various beauty products and skin care remedies.
Lakme has also developed a sense of awareness in the people migrating from the rural background by changing their lifestyle, through its beauty products enabling people to select perfect make-up and appropriate salons.
The Competitors
Lakme is currently struggling with the entrance of herbal products in the industry. Companies like L’Oreal, The Body Shop, Himalaya Herbals, Revlon, and Ponds are the competitors of Lakme. This opens the door for the customers to try different products and also some probability to switch to the other brands. However, the way Lakme enjoys its credibility is unparalleled.
Women need no introduction when it comes to the brand called ‘Lakme’. It seems that ‘make-up’ and ‘Lakme’ are two sides of the same coin. The winner of hearts or the king of the industry, Lakme has proved to be the best everywhere!
However, the entrance of herbal products and the rising awareness about chemicals in the make-up products is shaking the roots of Lakme and makes the future quite uncertain.
