The trend in the last year or so in Japan has been for consumers to continue to buy but purchase in a lower price bracket than they would have done before the impact of the global recession started to affect their incomes. Hence the popularity of cut-price brands such as Uniqlo and H&M in Japan.
But with the resilience of the better-off sector at home, coupled with the emergence of a wealthy consumer base in other Asian countries – notably China – some of Japan’s cosmetics firms are devising new products that meet that demand for high-end products.
Kanebo Cosmetics is to strengthen its portfolio in the domestic market within Thailand with the launch on November 1st 2010 of the new Impress Granmula range, a super-prestige skincare collection with sets priced at 68,000 Baht.
“Kanebo Cosmetics is reinforcing its global prestige strategy with a strong emphasis on markets in Asia, Europe and the U.S.,” the company said in a statement. The firm’s strategy in Asia and China focuses on its leading prestige brands, Impress skincare, Lunasol makeup and the Sensai range.
And those products are finding a market, studies reveal. With the repercussions of the financial crisis fading, the number of people in the world identified as being affluent increased more than 17 percent in 2009, while a report by Euromonitor indicates that the market for prestige cosmetics grew 14 percent globally between 2004 and 2009 but at a much faster rate (52 percent) in Asia in the same period.
The new range of Granmula – the name is a combination of “grand” and “formula” – has been formulated with a range of active ingredients, which have been developed over a period of more than a decade by Kanebo. The ingredients include honeysuckle extract, soy milk ferment filtrate, seaweed and gamma-aminobutyric acid.
The result is a skincare range that improves firmness, resilience, clarity, moisture and texture, the company says, that is overlaid with a fresh fragrance devised from more than 20 floral and tree essences.