SWOT Analysis Of IT Cosmetics analyzes, IT Cosmetics is the fast-growing beauty brand built by Jamie Kern Lima.IT Cosmetics makes more than 300 beauty products, focusing on color cosmetics, brushes, tools, and most recently, skin care, which the company launched earlier this year. Innovative Technology is IT. Developed with leading plastic surgeons, IT Cosmetics creates clinically-proven, innovative problem-solving makeup and skin care products that harness cutting edge, anti-aging technologies and high-performance, skin-loving ingredients to provide you with serious beauty solutions that help you look and feel your most beautiful! Our mission is to empower you through confidence in your skin, your makeup and your own beauty. IT’s your beauty, but better!
Did you know?
L’Oréal acquired IT Cosmetics in 2016 for US$1.2bn and since the takeover the brand has doubled in size to reach the #2 position in the US selective make-up category.
IT Cosmetics was born, in a tiny Californian apartment in 2008, out of Jamie Kern Lima’s desire to create makeup products that really help correct rosacea and sparse eyebrows. Within eight years, Kern Lima sold that company, IT Cosmetics, to L’Oreal for $1.2 billion in cash. In 2019, she stepped down as IT Cosmetics CEO and recently published a memoir, “Believe It: How to Go from Underestimated to Unstoppable.”
This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by IT Cosmetics.
IT Cosmetics At A Glance – IT Cosmetics SWOT Analysis
Company: L’Oréal Group
Founders: Jamie Kern Lima | Paulo Lima
Year of establishment: 2008
CEO: Jamie Kern Lima
Headquarters: Jersey City, NJ, Southaven, MS
Employees (Dec 2020): 500
Ticker Symbol: LRLCY
Annual Revenue (Dec 2020): US$182 Million
Profit net income (Dec 2020): US$57.5 Million
Products & Services: Makeup | Cosmetics | Beauty, and Technology | Personal Care Products | Skin care products
Company Website: www.itcosmetics.com
Top IT Cosmetics Competitors
Competitors: bareMinerals | Jeunesse | M.A.C. Cosmetics | Forever Flawless | SISLEY | ULTA | Superdrug | The Body Shop International | Longrich | Lancome | Caudalie | Farmax | Bluemercury | Per-fekt Beauty
IT Cosmetics SWOT Analysis – SWOT Analysis Of IT Cosmetics
SWOT Analysis Of IT Cosmetics analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With IT Cosmetics SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about IT Cosmetics SWOT Analysis. Below Is The Detailed SWOT Analysis Of IT Cosmetics.
IT Cosmetics Strengths – IT Cosmetics SWOT Analysis
1. Association with the fashion business: The cosmetics major IT Cosmetics was initially made for professional models where they could withstand the strong lights and glare of the ramp. Their first set of customers who were either models, stylists, professional makeup artists, photographers etc. introduced the brand to key influencers of the fashion world like designers and editors of popular fashion magazines.
2. Employees: The employees of makeup are selected with a lot of attention to detail. The employees are primarily makeup artists or professionals who have had the direct or indirect connection and experience in the makeup industry. Which makes them not just experts in the domain but also prospective customers or influencers.
3. The wide range of Products: IT Cosmetics offer a wide range of cosmetics such as lipsticks, blush, rouge, eyeliner, mascara, foundation, concealers, eyeshadow etc. They also have mineral-based makeup in each of these categories and most of their makeup is available in lotion as well as powder forms.
4. Makeup for multiple segments: IT Cosmetics is true to its slogan ‘All ages. All races. All sexes’ wherein it makes makeup catering to a number of different segments. Though IT Cosmetics was meant for women, the vibrant colors and bright hues made the brand appealing to a younger audience. IT Cosmetics does research on all its products to ensure that they are suitable for all types of skin and thus makes the cosmetics suitable for women of all racial groups, ethnicities, and cultures as well as even men.
IT Cosmetics Weaknesses – IT Cosmetics SWOT Analysis
1. Pricing: IT Cosmetics are priced at a premium and only people from a higher income group can afford to purchase their makeup. The brand can be afforded only a select audience and thus the brand has to rely on value sale.
2. Suitable for Caucasian skin tones: IT Cosmetics are based on research done on Caucasians. The cosmetics are more suitable for white skin and less suited for dusky skin tones. This the cosmetics are not very popular in Asia.
3. Inability to adapt to new demands: The IT Cosmetics are finding it difficult to adapt to changing market demands. The cosmetics sector is filled with a; a large number of players and the market is highly fragmented. The inability to match up to changing demands is affecting the market position of IT Cosmetics.
IT Cosmetics Opportunities – IT Cosmetics SWOT Analysis
1. Change in customer behavior: Among the millennial generation, the number of women who use makeup on a regular basis has increased. With the growth of online shopping people is willing to experiment with new looks and invest heavily in branded cosmetics. This is a huge opportunity for beauty companies.
2. Regional orientation: In many of the emerging economies like India or China the makeup is related to traditional occasions which means that the regional orientation is crucial. If IT Cosmetics can think in terms of each region the opportunities will scale up for the business.
IT Cosmetics Threats – IT Cosmetics SWOT Analysis
1. Competition: The main competitors of IT Cosmetics are Sephora, Clinique, Maybelline and M.A.C. Cosmetics.
2. Organic makeup: More and more customers are concerned about the health risks in the usage of makeup with chemicals in them. This is affecting the sale of cosmetics brands in general.
IT Cosmetics SWOT Analysis Overview Template
This is the SWOT report that IT Cosmetics has done. Please let us know if you have additional suggestions to add.
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