The beauty giant Estee Lauder which already has a presence in South Africa, is looking to increases its penetration in Africa, starting with Nigeria. Jewish Business reports:
“According to recent market reports Estee Lauder is going ahead full tilt with their plans to introduce several of the top-selling brands in Africa, with plans to be active in marketing their products initially in Nigeria and later in Mozambique toward the end of the year. The company have announced their plans to gradually increase their presence in the economically developing countries such as Angola, Nigeria, Ghana, the Mozambique and Tanzania to begin with, following in the footsteps of their highly successful launch in Lagos during 2012
The company’s marketing department has already identified several key markets estimated to have the largest growth potential, with cities such as Abuja and Port Harcourt in Nigeria following in the footsteps of Lagos, as well as the capital cities of Africa’s largest and most well-developed countries reportedly being the key target for Estee Lauder’s marketing drives.
As well as planning to open additional stores in the Lagos region for the company already has a strong foothold Estee Lauder are reportedly also preparing to introduce their MAC brand of makeup to fresher markets in the region. The company’s marketing team and confident that thanks to its encompassing range of fragrances, the MAC brand will help Estee Lauder stamp a major footprint in the rapidly economically expanding in Cote d’Ivoireas well as in Botswana and Zambia.
Industry economists point to the fact that, Estee Lauder, like many of their competitors in the cosmetics industry has been suffering from the effects of the economic downturn in the U.S. and particularly in the European markets. In this last quarter, Estee Lauder did report an upturn in sales but only by conspicuously low levels. . .”
-Jewish Business has the full Story