Korres is making an attempt to cozy up with Gen Z.
In January, the 25-year-old Greek skin-care model entered into Ulta Magnificence shops by means of the retailer’s Acutely aware Magnificence program, following its Ulta.com launch in Dec. 2020. Korres can also be offered at Sephora, HSN and Dermstore, amongst different retailers, however Ulta Magnificence has gained traction amongst Gen-Z magnificence clients. Utilizing its hero product, the Greek Yogurt Foaming Cleanser, Korres plans to introduce Gen Z to the model by highlighting throughout Instagram, TikTok and YouTube Korres’ Greek heritage, clear merchandise and emphasis on pores and skin well being.
Lena Korres, Korres co-founder and gm of North America, mentioned that is the primary yr that the model is “considerably” investing in digital adverts and paid social media, sharing that it’ll make investments at the very least 20% of its general gross sales again into advertising and marketing. Korres earned $30 million in U.S. gross sales in 2020 and $97 million globally. Korres mentioned the 2021 gross sales purpose is $120 million worldwide. In November 2017, Morgan Stanley invested over $56 million into Korres, which has allowed the model to push additional into worldwide markets. In Jan. 2020, Korres launched a post-menopausal assortment of merchandise, although Korres mentioned buyer demographics are extra evenly cut up between older baby-boomer and Gen-X clients and millennials.
“The Gen-Z shopper is the No. 1 precedence for the model’s development,” she mentioned. “They lead the pattern towards sustainability, inexperienced and clear magnificence, and that is the place our [brand identity] lives. Secondly, we’re underpenetrated in digital [sales] and social. It’s anticipated that manufacturers must go after that digital shopper, and that additionally helps the model throughout all our gross sales channels.”
To kick off its Gen-Z concentrating on, Korres launched in early January a yearlong social media marketing campaign throughout Instagram, TikTok and YouTube. It consists of product giveaways, encouraging clients to DM for corresponding personalised suggestions, and unpaid influencer product gifting. Paid adverts and unpaid social posts function a 20% off code for the cleanser, references to the corporate’s Greek heritage, photographs of Greek landscapes and close-ups of product textures. Korres started testing IG Reels in Nov. 2020, with movies that includes its yogurt cleanser.
In the meantime, its TikTok technique focuses on widespread seeding and paid influencer partnerships, relatively than natural model content material. Korres will discover extra alternatives for interactive activations in 2021. This technique is much like its YouTube technique, however with the added purpose of build up Korres’ owned account.
“In 2021, we’re celebrating our roots and renewing our dedication to our clients and the planet,” mentioned Donnie Soddu, Korres svp of promoting and digital. “We perceive [customers’] expectation for one-on-one connections and that they’re savvy relating to apparent promoting.”
Korres mentioned that going after Gen Z is sensible as a result of Korres’ worth proposition aligns with the youthful era. For instance, Korres’ yogurt cleanser rebalances the pores and skin’s pH stage and helps a wholesome microbiome, which is a burgeoning proposition behind many manufacturers that target gentler options for pores and skin points like pimples. The model has a farm-to-face course of for ingredient sourcing in Greece and is a clear model, primarily based on Sephora’s and Ulta Magnificence’s clear and aware magnificence requirements.
In keeping with a 2020 Mintel report on Gen-Z magnificence developments, the wonder trade has taken a success in gross sales as a result of Covid-19, however Gen Z is a vibrant spot as a result of their robust engagement. They’re much less involved by an absence of open shops and buy skin-care merchandise from manufacturers with self-care narratives. And very like millennials, they’re additionally curious about clear magnificence. Incumbent manufacturers like acne-focused Clear & Clear and Rodan & Fields have taken discover and have sought to future-proof their manufacturers with Gen-Z-focused offshoots. Manufacturers like Kinship, Tula and German model Babor’s Cleanformance assortment all function probiotics — a preferred ingredient presupposed to help a wholesome microbiome. They usually all goal Gen Z shoppers.
“Speaking to Gen Z is an elevated accountability for magnificence manufacturers,” mentioned Korres. “It’s a must to take them by the hand and present them the great issues for his or her pores and skin. We’ve to inform them this product not solely cleanses your pores and skin, however it’s additionally sulfate-free, it’s soap-free, it doesn’t have any artificial perfume, and it’s very mild. Plus there may be science [behind it, because] it balances the microbiome.”