Urban Decay is an LA-based subsidiary of French cosmetics company L’Oreal. Founded in 1996 and acquired by L’Oreal in 2013, Urban Decay in 2020 had a revenue of $364 million. They describe themselves as “beauty with an edge. It is feminine, dangerous, and fun…appealing to celebrities, rock stars and anyone who relishes her individuality and dares to express it.” The company has conducted marketing strategies with Gwen Stefani, Lizzo, and Karol G among others.
Urban Decay’s competitors are active in the web3 space: Mac cosmetics is producing NFTs, NARS is building virtual communities with Roblox, and Too Faced is rolling out connected packaging for 100,000 samples of its Maximum Plump lip gloss in the form of NFC tags.
Urban Decay wants students to help in strategizing a brand identity in the Metaverse; more specifically, they want to students to find ways to reduce their average consumer age to 22 and stay true to their brand while doing so.