IMANCosmetics will have a great opportunity if the company broadens their customer reach through the use of social media.The beauty industry is polluted by mainstream cosmetic giants.
As a company whocaters to women of color, IMAN has the potential to dominate the beautyindustry through its niche market. IMANCosmetics was the first cosmetics and skincare collection designed for allwomen with skin of color4. This puts the company at an advantagewhen it comes to knowledge about what their customers want. What Iman noticed,and others are also starting to notice, is that representation has been a hugeproblem in the beauty industry.2 IMAN Cosmetics will thrive rightnow in the beauty industry, as consumers are looking for brands that focus oninclusivity when it comes to skin color. Fenty Beauty by Rihanna is a greatexample of how successful a beauty company can be when using social media. FentyBeauty currently has 2.9 million followers on Instagram.
5 Their Instagramis used to promote its inclusive products as well as utilize social mediabeauty influencers to create more brand awareness.3 IMAN Cosmeticscan use the same social media tactics as Fenty Beauty to increase its customerreach and increase its market sharein the beauty industry. Thebeauty industry has gained $1 billion for three consecutive years.1By utilizing social media to create better brand awareness, IMAN Cosmetics willexpand its customer reach. This strategy will allow the company to dominate thebeauty industry through social media. The company’s market share will increasedue to a growing consumer market. willall the company to successfully grab a hold of its niche brand References Group,The NPD.
“How Big is the Makeup Industry.” NPD Group, The NPD Group, 7 Feb. 2017, www.npd.com/wps/portal/npd/us/news/press-releases/2017/us-prestige-beauty- industry-adds-1-billion-in-sales-grows-6-percent-in-2016/.
Muller,Marissa G. “How Rihanna’s Fenty Beauty Is Ushering in a New Era of Inclusivityin the BeautyIndustry.” W Magazine, 19 Sept.
“5 Reasons Why Rihanna’s Fenty Beauty Was Named One of TIME’s Best Inventions of 2017.” Billboard, 22Nov. 2017,www.billboard.com/articles/news/lifestyle/8046279/rihanna-fenty-beauty-time-best-inventions-2017.”AboutIman.” IMAN COSMETICS, www.imancosmetics.com/aboutiman.”FENTYBEAUTY BY RIHANNA (@Fentybeauty) • Instagram photos and videos.” Instagram,www.instagram.com/fentybeauty/?hl=en.