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From its humble beginnings as a single hair salon in Mumbai, India, Lakmé has transformed into one of the world’s leading beauty brands. What started as a single salon in 1908 has now turned into a global empire, with more than 1,500 salons and counters in over 130 countries.
In this blog post, we’ll take a closer look at the history and growth of Lakmé, including some of the major milestones that have helped make it one of the most successful beauty brands in the world.
Lakme is a leading Indian cosmetic brand with headquarters in Mumbai. The brand was founded in 1952 by industrialist JRD Tata, who was concerned about the amount of money Indian women were spending on imported cosmetics. In 1996, Tata sold its shares to Hindustan Unilever, and the brand is currently the property of Hindustan Unilever, a subsidiary of Unilever.
The business model of Lakme
The success of Lakme was revealed by his financial model business model. Lakme to expand its presence began to form a franchise in 2000. These franchise opportunities are available to entrepreneurs in various cities where retailers are required to provide services to customers in accordance with Lakme standards. Lakme’s hybrid business model with a few company-owned salons and other salons as franchises have been successful and have made Lakme a household name throughout India.
In addition, Lakme’s business model is based on its production and sales strategies. Lakme’s production strategies focus on ensuring that the brand offers high-quality and chic products to its customers. The production strategy has helped the product overcome challenges and meet the changing needs of customers. In addition, the products offered by Lakme are customized to meet the needs of Indian women, making it a very popular brand.
Marketing strategies
Lakme’s marketing strategies have played a key role in the success of her business model. Although the products offered by the product are diverse and meet the different needs of different customers, the brand also ensures that these products are available at competitive and affordable prices.
Lakme is far superior to its competitors when it comes to providing products at low prices and high quality. Lakme also distributes its products in supermarkets and specialty stores, making them easily accessible. Additionally, product promotion takes place through advertising as well as samples and word of mouth.
How did Lakme go global?
Lakme did not prepare its products in the Indian market instead its products are easily available in about seventy countries around the world. It is associated with the FMCG industry and collaborates with personal care products. Even with its wide range and availability of stores, it has presented a tough challenge to other companies.
They are able to capture customer attention in a multi-product retail or e-tail area, increasing consumer expectations. Lakme Fashion Week, India’s leading fashion event is run by major celebrities, models, designers, hairdressers, and makeup artists.
With a diversified portfolio and using celebrity endorsements with other marketing techniques, the brand has climbed high steps into being recognized as a global brand.
