Here’s Why L’Oréal Is Backing African Scientists In The $11 Billion Beauty Market 

CBx Vibe:Brown Skin Girl” Beyonce & SAINt JHN

By CultureBanx Team

  • L’Oréal awarded three leading African scientists its African Hair & Skin Research grant award
  • In 2019, Africa’s beauty and personal care market was estimated at $11B

L’Oréal is ramping up activity across Africa as the region accounts for 25% of skin problems, but only 1% of global research output. Face products and make-up have remained marginal but have strong potential, especially in a region with the fastest growing population.

Why This Matters: There is some scientific truth to the saying, “Black don’t crack” and researchers are delving deeper into what this is. L’Oréal awarded three leading African scientists its African Hair & Skin Research grant award. Africa’s beauty and personal care market was estimated to be worth  $11 billion in 2019. Consumers on the continent typically expect high quality products that are both reliable and affordable.

Nigeria is the rising star Sub-Saharan Africa beauty market due to its high population and projected growth

Specifically, Nigeria is the rising Sub-Saharan Africa beauty market star, due to its high population and projected growth. In other countries such as Kenya, only 15% of beauty and personal care products are sold in supermarkets.

Back in 2013, L’Oréal acquired the Kenyan company behind Nice & Lovely, a well-known mass-market skin and hair brand, for an estimated $17.6 million. Research shows that while wrinkles are the main sign of aging on caucasian skin, aging from sun damage manifests itself in a different way on darker skin, in the form of uneven pigmentation and dark spots.

Situational Awareness: Brands need to take a page out of Rihanna’s Fenty playbook. She released 40 shades and the darker ones were the first to sell out showing a great need in this market. Rih Rih’s Fenty makeup also went on to make a reported $100 million in the first 40 days and nearly $600 million in the first year.

CBx Vibe:Brown Skin Girl” Beyonce & SAINt JHN

CONTRIBUTOR

CultureBanx Team

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