According to market analysts Euromonitor, the cosmetics sector in Russia grew by 14.3 per cent between 2002 and 2003 to reach $5,348 million. This figure is being driven by the fact that there is an increasingly diverse range of beauty products on the market that are being offered to the 70 per cent of Russian women wearing make-up from as young as age 10. This, combined with the fact that expendable income is rising in the country, means that the market continues to show strong potential for new product launches.
Taking up on opportunities in the market are players such as France's Yvan Serras, Switzerland's Les Naturelles, German player WIRUD and Irida Neva, which have all launched cosmetic lines during the month of September.
Yvan Serras is launching a number of lines in selected retail chains across the country, including the 160 SKU line of make-up, nail care and perfumes. Les Naturelles is launching skincare, bodycare and suncare product lines, together with a line of male skincare products and now has a dedicated web page on its internet site for the Russian market.
During the course of this Autumn German company WIRUD is also planning on launching a number of cosmetics lines on to the Russian market. Its brand WIRUINE is already well established on the Russian market, and capitalizing on this recognition it is aiming to launch a range of facial care, body care and hair care product lines. The company is aiming at the top end of the market and according to news provider CosmeticsinRussia.com, its products will be rolled out in department stores and beauty care outlets in the Moscow and St. Petersburg metropolitan areas priced at between $20-22.
Meanwhile domestic player Irida Neva is re-launching its hair colourant Irida Plus in gel form. The line complements its existing range of hair colourants, Irida Color. The colourant uses phitotechnology, and vitamins B5, C and F, together with UV protection and comes with a hair mask. It is said to lighten hair gradually, to bring even colouring to gray hair and comes in 16 different shades.