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In the first edition of the Vogue Business Beauty Index, The Ordinary emerged in the top spot bolstered by consumer perception of its quality, effectiveness and value for money. Charlotte Tilbury came in second place with strong engagement in the digital space, as well as holding the top position for innovation, with a particularly strong investment in virtual stores.
Brand performance for the Vogue Business Beauty Index was assessed using over 120 data points across consumer sentiment, digital, ESG and innovation.
The overall weightings of the assessment categories and their metrics are determined through industry relevance and importance to the consumer in order for us to objectively assess a brand’s performance. The final weighting for each category was agreed upon following a review process with our data analysts and expert editors.
Thirty brands were assessed in total, including both established leaders and beauty disruptors, enabling learnings from global brands and rapidly growing newcomers alike.
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Consumer research remains fundamental to the Vogue Business Beauty Index, with readers across a number of Condé Nast titles, including Vogue, GQ, Vanity Fair and Condé Nast Traveller, participating in a bi-annual luxury consumer sentiment survey that enables us to achieve granularity when it comes to understanding awareness, customer challenges and beliefs about brands.
Future iterations of the Vogue Business Beauty Index will also continue to expand the brands, metrics and digital platforms assessed, with new additions being prioritised in line with industry needs and developments.
The Estée Lauder Companies
The Ordinary emerges as the top-performing brand of the Index, being the best in consumer’s eyes, scoring highly across perceived quality and efficacy of the products. The brand plays on traditional indicators of luxury, while the affordable price point ensures it’s the most likely brand for consumers to purchase in their next beauty shop.
Puig
Charlotte Tilbury adopts a founder-as-influencer model, doing wonders for the digital engagement for her brand, and it ranks in the top five for this category of the index. The makeup artist-founded brand has recently evolved its virtual store on metaverse store platform Obsess in collaboration with Disney for the Charlotte x Disney 100 Beauty Wonderland, which boosted the brand’s AR/VR score for innovation.
L’Oréal Group
As one of the more established brands within the index, Kiehl’s holds the third spot thanks to consistent performance across all four assessment categories. The in-store experience is something that keeps consumers coming back while it continues to scale its digital experience, being one of few brands within the index utilising AI for skin diagnostics.
Shiseido
Coming in second for consumer sentiment and third for digital, Nars is one of the best-known and most-loved brands within the index. An international powerhouse, it is the top-performing index brand on Chinese social platforms and scores high globally for its beauty content.
LVMH
Rihanna-founded Fenty Beauty shows the power of fandom in the digital sphere, being the top-performing brand within the pillar. The brand utilises public moments for the singer, such as the 2023 Super Bowl, which generated over $11 million in media impact value (a measure of the value of all media placements and mentions across print, online and socials), according to Launchmetrics. Beyond its digital performance, Fenty Beauty revolutionised inclusive shade ranges during its 2017 launch, with the brand now considered the biggest champion of diversity within the index in consumers’ eyes.
The Vogue Business Beauty Index is available exclusively to Advanced Members, with a new edition published every year. Advanced membership also includes invitations to VIP networking events and meet-ups in addition to market, investment and data analysis, including:
- The Long View by Vogue Business — Interviews with high-profile CEOs exploring their most pressing issues, innovative solutions and strategic plans.
- Market Insights reports — In-depth analysis unpacking the risks and opportunities in global luxury markets.
- Fashion Exec’s Guide series — Expert industry insights, behind-the-scenes fashion news, global reporting and business-critical analysis.
Become a Vogue Business Advanced Member here.
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