A new player enters the beauty sector. As explained by some media specialised in the beauty and cosmetics industry, L'Oréal Groupe, Beiersdorf, Givaudan, IFF, Kiko Milano and Acorotti Cosmetics are the founding companies of the Value of Beauty Alliance.
This new entity, as stated on its own website, has the main objective of bringing together the players in the European beauty and personal care value chain to raise awareness of the importance of cosmetic products and the positive economic and social contribution that the industry makes in Europe. The Value of Beauty Alliance emphasises that they are open to include any company belonging to the European value chain of the sector, including trade associations.
Vicent Warnery, CEO of Beiersdorf, has indicated that European legislative bodies have little knowledge of the cosmetics industry and all that surrounds it, and has highlighted its importance in the trade balance of many countries.
The Value of Beauty Alliance was presented last Tuesday in Brussels together with its first report: What is the value of beauty? How beauty & personal care shape our economy, society and wellbeing. In this report, among other relevant aspects of the sector, they talk about the impact on the global economy of the sector as well as its employability. Nearly three million people in the European Union work in the beauty sector, and it is expected that in the coming years, the sector will exceed 100,000 million euros per year. The entity points out that it is a very rich sector, as it is made up of multinationals, small and medium-sized enterprises, family businesses, packaging, marketing and distribution professionals and coexists with other industries.