This student was asked to create a new brand under the Oil of Olay parent brand for a younger demographic. Bare by Olay is an invented, millennialized spin-off brand.
“The Millennial Generation, or "Millennials," is the largest generation in American history, according to the Boston Consulting Group's "The Millennial Consumer." At nearly 80 million strong, Millennials comprise one-quarter of the population in the U.S. and influence over $170 billion in spending power annually; a figure that will increase as Millennials reach their peak earning and spending years. Moreover, Millennials are trendsetters and the brands, products, and services they like are indicative of future trends for the population as a whole.” — Ayanna Mancuso, i media
Olay generates more than $2.5billion in annual sales and represents an 8% share of the global facial skin-care market, but its U.S. sales have declined each year since 2010. The current product is used mostly by middle-aged to older women.
