What Does Dior Show Mascara have to do with Your Business?
February 18, 2009 by Red Lipstick Reporter
Filed under Blog
CEW Hosted the first West Coast Women in Beauty Series at the Beverly Hills Hotel
Brand Aid: Creating Opportunity in a Challenging Market. Beauty & Lifestyle expert, Martha McCully interviewed Pamela Baxter, President and Chief Executive Officer of LVMH Perfumes & Cosmetics of North America & President and Chief Executive Officer Christian Dior Inc.
No matter what type of business you’re running, I’m sure you’ve had concerns about today’s economy. How can you continue to build your business and brand when it seems that the consumer doesn’t want to spend money? Baxter shared strategies and insights which turned Dior’s Beauty brand around even in a down economy.
Baxter began her career in the beauty and fashion industry right out of college. During one of the countries past recessions, she had difficulty finding a job and ended up working behind a cosmetic counter as a makeup artist. She left the cosmetic counter for a short while as she attempted to start her own entrepreneurial venture. Her business venture didn’t go as planned. A decision by the landlord to turn the space the business was occupying into a bank changed her direction . Back to the cosmetic counter she headed to beg the company to give her back her old job. Fate? Perhaps. But, Baxter believes that success comes from following your passion, taking risks, and always be willing to learn something new.
Her Entrepreneurial venture in the past, she is holds several prestigious titles, including, Chief Executive Officer Christian Dior Inc. Dior was having trouble with their luxury cosmetic brand. They decided to scale back on distribution and make Dior cosmetics more exclusive. Then picked one product category on which to focus. Dior Show Mascara, is what they chose and it grew a stunning 45% in sales last year. Baxter stressed that no matter what is happening in the economy, people still want top quality and service. They may be willing to give some things up in order to keep luxury items in their lives. Baxter believes that sometimes you trade up and sometimes you trade down; Life is about choices; Ultimately people still want to believe in the dream.
How can You Apply Baxter’s Advice to Your Business?
Start by taking another look at what you’re currently doing.
- What one area of your business can you focus on?
- How you can make it better for your customers?
- Where can you scale back?
- Can you offer better service to your customers?
- Are your products or services the highest quality?
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Great article and very inspiring woman!