Nicolas Krafft is now teaching at Columbia University as a guest speaker. Before being a teacher at this university, he worked for 20 years at L’Oreal of Paris. At L’Oreal, he was product manager and developed brands like Biolage and Matrix. He would probably be the right person to talk about what is happening in the hair care product industry in the 21t industry.
Nicolas Krafft of L’Oreal of Paris would know that the hair care product industry has changed a lot. Stylists are now online influencers and free agents. Salons are used to attract new clients and anybody now can buy their own hair care products online. Krafft sees that the traditional model has moved towards a future where products, where consumers engage each other online about products and products, will be distributed online and on omni-channels.
In the past, hair care products were mostly sold at salons. This system worked for many decades, but this system does not work in the 21st century. There have been great changes in technology and consumer preferences. What worked in the past will not work in 2020 and beyond.
Nicolas Krafft of L’Oreal of Paris knew that in the past, beauty brands were where innovation took place. Laboratories developed products that were out of the box and people with money made those product developments possible. The big brands would then use their sales forces to sell to salons. Hairdressers would be trained to use these products and create a network for these bands. It made it hard for new people to break these networks.
In 2020, Nicolas Krafft of Paris knows that beauty brands are ones that are creating innovation. Stylists are quickly innovating new products. Some share their new techniques online while some are starting their own brands. Influencers can go online and get audiences bigger than in the past.
When it came to beauty supply stores, Nicolas Krafft knew that they would sell their product to independent stylists and salons. These stores can in 2021 can set up websites and sell their products on them. Beauty suppliers have to have to build as well as attract exciting, new brands.