NOIR By L’Oréal
Disrupting Men’s Grooming with a Revolutionary Brand and Product
Abraham is the founder and CEO of Educo, an ed tech startup he founded to help a generation of Caribbean students who would’ve otherwise been left behind. Abraham was someone who struggled academically for most of life. After years of failure, everyone gave up on him.
This is when he decided to lift himself by his own bootstraps and make a change. By some crazy stroke of luck, he managed to a find a tutor and mentor who gave him the tools and support to become the person that he knew he was destined to be. He went from “D” student to #1 in Jamaica for Social Studies and Student Council President. From there he got a full ride to Howard University and the rest was history.
For the past 25 years, L’Oreal has hosted an annual global innovation competition where it challenges teams to disrupt the future of beauty. Over 95,000 people have competed since its inception. Each year, L’Oreal selects one of its flagship brands and gives contestants the opportunity to propose and implement a groundbreaking product, service, or experience.
• USA National Champions: Named #1 out of 114 Marketing Teams
• Selected from 25,000 Competitors as a Top 42 Marketing Team in the World
• Generated $240k*
The Face of the New Millennium is Multicultural
The sheer size of the black population is growing 35% more quickly than the rest of the US. (Nielsen)
The average income of the black household is increasing, and more young black consumers are entering their peak earning years (Nielsen)
Men of Color spend 34% more on personal care products (Nielsen)
Men of Color have unique skincare needs that are unmet by existing mass market products
We surveyed ~300 Men of Color and found that 85% still struggled with acne despite using other products
The success of brands like Shea Moisture, Bevel, and FentyBeauty clearly indicate that this market is starving for attention (RedCode)
And the Survey Says… Unmet Skin Care Needs For All
We validated these findings with research on that the skincare needs of millennial men of color. Research indicates increased melanin content in skin predisposes you to unique skin care challenges like hyper-pigmentation, keloids, and razor bumps. And as it stands, there aren’t products in the market that are effective, simple, and affordable. Competitors like Shea Moisture, Clinique, and Nubian Heritage are typically too expensive. And because of low brand equity and limited distribution, they haven’t been able to build the customer relationships to successfully penetrate the market.
A Product Mix That Addresses Unique Consumer Needs
Our Unique blend of ingredients helps combat oily and dry skin, as well as razor bumps. And when combined with the chemical compound Allantoin, our products are ideal for healthy skin of every shade and a healthy scalp as it helps rebuild and refortify skin.
Our 4-Step Expansion Strategy
Our expansion strategy begins with a soft-launch historically black colleges and universities, which provide unfettered access to a high concentration of men of color. From Central America, to South America, to Europe, to Africa.
This allows us to take a step by step approach to better understand our consumer base and gather data. This will allow us to position our brand for the Global stage.
3 Reasons We’re Starting Our Launch in The US
Diversity in Need
With the growing population of multicultural men — consumer preferences and tastes are evolving quickly. And this will require L’Oreal to adapt its product offering it wants to remain relevant.
Multicultural men are spending a lot more on their hygienic products. Up to 34% more. This creates a profitable and competitive market for our product.
Global tastemakers set the trends of tomorrow. So a strategy and product offering that is focused on building relationships with them, has massive potential for massive ripple effects in communities of color across the globe.
Community First Customer Engagement
As millennials skincare issues can often lead to bullying, low self-esteem, and even depression. That’s why we’re creating social programs to teach youth about skincare, health & wellness, and personal development.
We’re even providing scholarships and employment opportunities to studying STEM and business.
Show Me The Money
We believe our product should be accessible to multicultural men across the world, and our Cost Leadership model will allow us to do that. Using US Census Data and a projected market penetration rate of 5%, we estimate gross sales to be about $50MM by Year 2.
Typically R&D represents the biggest cost, but we believe we’ll be able to lower these costs by identifying synergies from related products targeting multicultural communities.
Wrapping It Up
Not only does this product satisfy a real need in the market, but it aligns perfectly with L’Oréal’s 2020 objectives. When you consider the overarching strategy of Universalization, Beauty for All, and campaigns like “Because We’re All Worth It” or the research center that just opened in South Africa — it shows that the time is NOW. L’Oréal is investing in and realizing the importance of multicultural communities.