The Philippines is now selling the most expensive cosmetic products at the highest prices in the world.
The country is also selling the cheapest ones, making it the world’s biggest exporter of cosmetics.
“This is the most significant growth rate in the last decade,” said a spokesman for the Philippine cosmetics market.
The market is dominated by cosmetics brand Lancôme and luxury brand Lancome Cosmetics, which together make up about a third of the country’s cosmetics sales.
They are the top two sellers in the Philippines, according to industry data.
In terms of the top 10 companies in the country, Lancome is the dominant brand in terms of sales and earnings.
It is also the biggest seller in the United States, according the United Nations Food and Agriculture Organisation (FAO).
“Lancome Cosmique is the top cosmetics brand in the US,” said Joao Paulo Oliveira, a spokesman at the Philippine-based multinational firm’s marketing arm, LVMH Cosmetics.
“We have to keep it up because our market is really big.”
The Philippines has also overtaken India as the world leader in cosmetic sales.
In 2014, India’s cosmetics market generated $4.5 billion, with the United Kingdom the country with the highest share at 20 per cent.
The Philippines’ cosmetics market grew from $8.5bn in 2013 to $9.6bn in 2014.
“The Philippines is one of the fastest growing economies in the Asia-Pacific region,” said Daniel Galvez, a professor of economics at the International Institute for Applied Systems Analysis.
“And we have a big consumer market.”
Galvez said the Philippines’ high level of spending on cosmetics is a result of its large population, which he said is more interested in fashion and beauty than everyday beauty.
“They are very good at spending,” Galvez told Al Jazeera.
Big brands’ In the Philippines there are currently six big brands. “
That is a good thing because you are getting a better product at a higher price.”‘
Big brands’ In the Philippines there are currently six big brands.
All six are part of a conglomerate, which includes luxury brands like Chanel, Estee Lauder, L’Oreal, Marc Jacobs and Prada.
Galvez added that the country has been investing heavily in marketing its cosmetics, including its own brand L’Oréal Cosmetics and a global brand called Lancômes.
Galves said that the cosmetics market is growing faster than the GDP.
“You can see it is growing very fast.
“Its products are very popular and it is one company.” “
Lolong [the country’s third-largest cosmetics company] is in the first half of next year and it will grow faster than it is,” he said.
“Its products are very popular and it is one company.”
Galves also said that companies like L’oreal and EsteeLon are doing well and that the Philippines could overtake China as the biggest cosmetics market in the next two years.
“When they have their next product launch in the year and a half, they will probably be a big brand,” he added.
‘Big brands in the middle’ Galvez’s research found that L’Esprit and L’ORéal were both the top brands in terms on sales.
However, Galvez also noted that other brands were also doing well.
“There are a lot of big brands in this middle [category].
There are a couple of them, for example, Lancôma and LVMh Cosmetics,” he explained.
Galvers research found, for instance, that Estee and LUX were in the third and fourth spots, respectively.
He also said the popularity of the brands in their respective categories is important for growth.
“It’s not good if you are just a small brand like LVMHS [Lancôme Cosmetics], but a bigger one like Estee,” he told Alja.
I do think that LVMHK Cosmetics will be in the top ten by the end of this year.”