A recent report on the world’s strongest beauty labels has highlighted the dominance of legacy brands, with long-running and affordable favorites such as Olay and Avon dominating the top ten.
Valuation firm Brand Finance’s annual ranking of the 50 biggest global beauty brands measures areas including current market value and customer loyalty, with the number one spot going to America’s Olay — which was launched in 1950.
The second and third spot went to US brand Avon and France’s L’Oreal respectively. Both companies have been around for over 100 years. In fact, all but nine of the top 50 brands are over 60 years old, and 15 of them are over 100 years old.
“Consumers are loyal to brands because of the trust factor, which is especially important in beauty products,” Elise Neils, managing director of Brand Finance USA told Forbes.
“Legacy brands have history and significance across generations, and women are more willing to be loyal to brands that they’re putting on their body.”
Historical Japanese companies Biore and Shiseido complete the top ten respectively.
Interestingly, beauty brands with a high social media following, including Clinique, Maybelline and Dior, aren’t in the top ten.
The Top 10 Global Beauty Brands
8. Estee Lauder