L'Oreal's Color Riche Le Vernis nail color brand out of stock in India just four months after launch, company officials say, citing low pricing
September 25, 2012
(Industry Intelligence Inc.)
– Amid rapidly increasing demand for color cosmetics, L’Oreal officials announced that its Color Riche Le Vernis nail color brand has run out of stock in India just four months after its launch, The Economic Times reported Sept. 25.
Satyaki Ghosh, director of the consumer products division at L'Oreal India, cited low pricing as the reason for the sellout, saying he doubted that any L’Oreal nail color was currently being sold for less anywhere in the world.
That’s part of the company’s “sachet strategy” for cosmetics, which calls for consumers to sample products at low prices and then getting them to upgrade, Ghosh said.
The primary source of this article is The Economic Times, Mumbai, India, on Sept. 25, 2012.