Research by: Dominique Turpin & Sandeep Puri
Abstract
In June 2022, Raymond Cloosterman, CEO and founder of Rituals Cosmetics, reflected on his company’s European success and plans for the next decade. Rituals had taken the European beauty industry by storm, opening two to three stores every week. Raymond’s ambition was to triple his business from €1 billion to €3 billion over the next 5 years. Part of that plan was the strong footprint of Rituals’ brick-and-mortar stores and an online share of 33%. While he believed it would be difficult to reach the target without expanding further into Asia, several key questions needed to be addressed – how could Rituals’ success be replicated in Asia and other markets worldwide, including doubling the number of stores from 1,000 to 2,000? In addition, what kind of organizational structure would be required to achieve this goal? How to maintain the unique DNA of the brand? How to take the Rituals concept to the next level? How to be a genuine leader in sustainability? And finally, how to grow further in Asia with what business model?
Learning Objectives
This case is designed for an MBA level or EMBA marketing program, specifically on brand management and luxury marketing. It can also be used in international marketing courses to discuss the different perspectives of global expansion for a luxury brand. The case is also suitable for courses like marketing management to introduce brand management, omnichannel retailing, and luxury marketing.
To cite this case: Turpin, D., & Puri, S. (2023). Rituals Cosmetics: Building the world’s leading well-being brand in Asia. IMD-7-2411. Lausanne, Switzerland: IMD.
To access this case: https://www.imd.org/research-knowledge/publications/?query=Rituals%2520Cosmetics%253A%2520Building%2520the%2520world%27s%2520leading%2520well-being%2520brand%2520in%2520Asia
