Estée Lauder vs L'Oréal | How Influencers Are Changing the Beauty Industry | 7

Business Wars

Wondery

History, Business, David Brown, Management

4.6 • 13.2K Ratings

🗓️ 24 February 2021

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

As the beauty business shifts towards boutique brands and upstarts, traditional titans of the industry like L'Oreal and Esteé Lauder are struggling to maintain a foothold. At the center of this cultural shift are beauty influencers, who are reaching a new wave of savvy, socially conscious consumers.

For more on how they’re reshaping the landscape, we speak with Arabelle Sicardi, an industry strategist and trend forecaster for over a decade and author of the upcoming book The House of Beauty. Sicardi lays out what’s driving the shift and how a historically white industry aims to adapt to a new generation of consumers hungry for diversity.

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Transcript

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0:00.0	Hey, Prime members, you can listen to Business Wars Add Free on Amazon Music.
0:04.6	Download the app today.
0:06.0	I'm David Brown and this is Business Wars.
0:36.0	This is Episode 7 and the conclusion of our series on Estee Lauder vs. Lauriel.
0:43.0	These two giants have dominated the makeup and beauty industry for more than 50 years.
0:48.0	During their reign, consumers gravitated toward their high-end legacy products
0:53.0	and they were willing to pay big bucks for the brand name.
0:57.0	But now we're seeing a new wave of competitors challenging these titans of industry.
1:01.0	Smaller brands that are getting attention from the taste makers of the 21st century, beauty influencers.
1:08.0	So what's driving the shift from big name to boutique brands?
1:12.0	And how will a historically white industry adapt to a new generation of consumers hungry for diversity?
1:19.0	For more, I'm chatting with Airebel Tsikarti.
1:22.0	Tsikarti has written about the beauty industry for over a decade working as an editor, strategist and trend forecaster.
1:28.0	They're currently writing a book about beauty and political power, the house of beauty.
1:32.0	We'll discuss the future prospects of the makeup industry and how Lauriel and Estee Lauder may well be relics of the past.
1:39.0	All that is coming up next.
1:51.0	Airebel Tsikarti, welcome to Business Wars.
1:54.0	It's good to be here.
1:55.0	It's great to have you.
1:56.0	Let's begin by talking about these two players that both sort of have humble origin stories.
2:01.0	Both Lauriel and Estee Lauder going on to become establishment brands that, well, by and large,
2:07.0	shape the future of makeup and beauty at least as we've known it for many years.
	...

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