Exhibit 31.11 Fragmentation analysis for cleansers, moisturizers
and toners.
Fragmentation analysis (Exhibit 31.11)
depicts the build-up of cumulative share with each additional item (SKU),
starting from the largest to the smallest. It reveals the level of
fragmentation or concentration within the category and may be conducted at item or
brand level.
In this example pertaining to some facial care categories, the toner category, where
the top three items account for close to 50% of market share, is highly
concentrated. In contrast, it takes 14 items in the fragmented facial cleansers
category to cross 50% share of sales.
