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Sanctuary CEO Alice Avis explains why Hong Kong is an important market for the leading UK spa brand |
Leading UK spa brand Sanctuary is leveraging Hong Kong to showcase its products in Greater China, tapping the fast growing "masstige" market.
Masstige, a marketing term formed from the words mass and prestige, has been described as prestige for the masses. The term popularised by Michael Silverstein and Neil Fiske in their book Trading Up and Harvard Business Review article Luxury for the Masses is used to define products as "premium but affordable". Victoria's Secret, Porsche Boxter and Sanctuary spa products are among the brands to have embraced the term.
Sanctuary is a premium spa brand in the UK. Ten years after opening its first women's day spa in Covent Garden (in 1977), Sanctuary launched a series of spa products covering facial, hand and body care. The brand has grown to be a popular household name. More than 64,000 women book a full day treatment at The Sanctuary every year, and its products for home use are sold in six countries (the UK, US, Canada, Thailand, Hong Kong and Taiwan).
Company CEO Alice Avis, who visited Hong Kong to launch the product range, described the city as an important market. "Our vision for Hong Kong is to achieve the same status as in the UK, where Sanctuary is the leading masstique spa brand," she said.
Self nurturing
The concept of spa is growing as people recognise its therapeutic benefits, Ms Avis continued. "One of the key benefits of going to a spa is for relaxation, but busy people can also achieve this at home. Every product (label) of ours says ‘take care of yourselves'. This doesn't mean taking a week off or even a whole day – women can lock the bathroom door, fill a bath, and enjoy products and rituals that they don't share with the family."
Sanctuary has joined with a Hong Kong partner, DNA Beaute, to launch its products through Mannings stores. Founder and CEO Maria Norman says masstige is one of the world's fastest growing retail trends.
"The Hong Kong beauty market has grown by between 6 and 8 per cent per annually over the past five years, while the masstige category has seen doubled digit growth," Ms Norman said. "Obviously this is fuelled by the strength of the Greater China market as a whole. Hong Kong is seen as an entry point for international brands, and the place where products are looked at."
Hong Kong is also a leading fashion hub, with one of the highest health and beauty per capita spends in Asia.
"We see Hong Kong as a very strong masstige entry point for China," Ms Avis said. "We will use the city as a platform to understand the China market and as a base for expansion further north."
Related link
The Sanctuary