LSN : News : Stat: Skincare is beauty’s largest category with half of the market

BMW and Tyde design the world’s first battery-powered boat

The Icon by BMW and Tyde, France and Germany

Germany, France – The Icon, developed by BMW and boat-maker Tyde, encapsulates the start of a new era for sustainable mobility on water, with the first fully battery-powered and emission-free marine craft.

BMW and Tyde put their automotive and nautical expertise to work to create a prototype for The Icon revealed during the 76th Cannes film festival. The battery-powered marine craft boasts a range of some 50 nautical miles (100km) and a maximum speed of 33 knots (55km/hour). The 13.15m-long watercraft exhibits technological prowess on more levels than its sustainability credentials – the boat is nearly silent and does not generate waves or vibrations by rising above sea level, providing optimal comfort while cruising. The luxurious experience is further enhanced with a customised soundtrack composed by Hans Zimmer for a synaesthetic ride.

This innovative project, and the in-depth knowledge exchange between experts from different areas of mobility, show how luxury brands can embrace electric mobility futures.

Strategic opportunity

The Icon is a great example of how brands can future-proof luxury. While unique design and elevated comfort are at the core of luxury offerings, they should be combined with a reduced environmental impact

Studio Xuxa employs (s)painful graphic activism

Spain – Spanish-Brazilian design studio Xuxa has turned to Midjourney to create a poster campaign highlighting the destructive impact of climate change in the Spanish region for tourists. Using generative artificial intelligence, the duo behind the agency revisited the iconic vintage-style Visit Spain posters from the 1960s and 1970s that are familiar to most travellers.

Keeping elements of the old posters’ two-dimensional shapes, vibrant hues and vintage typography, the ads depict distressed visitors crumbling under the Spanish sun with the ironic title Visit Pain. With the sun covering the letter S in Spain, the new posters warn tourists about the dangers of extreme heat, including heatstroke and dehydration.

Our Graphic Activism design direction explored how activism narratives are being reframed through nostalgic aesthetics and online conversations. As the impending climate emergency becomes an increasingly important part of our daily lives, more design studios will use their creativity to raise awareness and design for change.

Visit Pain by Xuxa, Spain

Strategic opportunity

Educate and empower through design. With young consumers embracing the stereotype of being addicted to the internet, tap into this with designs and language that inform, educate, simplify and empower this generation to engage in impactful activist behaviour

Foresight Friday: Dan Hastings, deputy foresight editor

Victoria Ling for The Future Laboratory

The Future Laboratory team offer an end-of-week wrap-up of the topics, issues, ideas and virals we’re all talking about. This week, LS:N Global’s deputy foresight editor Dan Hastings highlights Pride Month initiatives, the rebirth of Victoria's Secret and adult nappies.

: Happy Pride Month! I hope to see brands and businesses move away from the 'love is love' narrative as they jump on the rainbow craze. Glamour UK took risks to show its commitment to queer individuals with heavily pregnant trans man Logan Brown on its June digital cover. As explained in The Zalpha Reckoning, young consumers will detect pinkwashing or fake advertising in seconds – only an authentic commitment will keep your business relevant

: Are fashion brands un-cancellable? As rumours about a Victoria’s Secret fashion show comeback 'shot in a castle in Barcelona' in May 2023 were confirmed by journalist Louis Pisano, Adidas will soon start selling the first pairs of its leftover Yeezy sneakers designed by the infamous Kanye West. It sounds like consumers have either forgotten or accepted both brands’ controversial past

: In other news, designer Bjørn Karmann has created a retro AI-powered and lens-free camera, demand for adult nappies is rising thanks to Taylor Swift fans attending the Eras Tour, and Spectrum is entering the growing neurodivergent-friendly market with an alternative club night for LGBTQ+ people in London

Quote of the week

'Being fat is what my body looks like. That's it. That's all. My brand is feel-good music. My brand is championing all people. My brand is Black girl liberation'

Lizzo

Stat: Skincare is beauty’s largest category with half of the market

Routinely, The Netherlands

Global – The special edition of The State of Fashion report dedicated to the new face of beauty by The Business of Fashion (BoF) and McKinsey & Co reveals that skincare represents 45% of the sector’s total market value and is beauty’s largest category. Along with fragrances, colour cosmetics and haircare, skincare is expected to ‘power ahead at a combined global CAGR of 6% between 2022 and 2027’.

BoF and McKinsey & Co predict that innovation, with brands increasing their focus on science-driven efficacy, and rising demand in premium, luxury and prestige products, will bring skincare to new horizons. The category is set to grow from £153bn ($190bn, €178bn) in 2022 to £209bn ($260bn, €243bn) by 2027, with gross margins of between 50% and 70%. The most remarkable growth could come from luxury and prestige skincare, with a CAGR of 11% and 7%, respectively, over the five-year period.

In Four Tween Skincare Brands Prioritising Self-Care, we previously analysed how the skincare market is growing, partly thanks to a new generation of consumers from Gen Alpha and Gen Z, 60% of whom say they bought their first beauty product before the age of 14.

Strategic opportunity

As consumers gather more information on skincare for themselves online, they will be drawn to brands and products that can teach them something new. Consider how to share knowledge that makes them feel empowered to take care of themselves