We talk a lot about Chinese competition in sectors like automotive. This morning I was reading the recent publication by Susana Solís -MEP, brilliant- about the potential tariffs that could be imposed on China, and inevitably the topic resonates in my head. All the more so, because I have just participated in the plenary conferences of the CAFFCI, in Nanjing.
My view is the same, Susana, concern.
The position of the cosmetic industry is different, true. But some signs invite us to ask a question: could the transformation be similar?
Europe is a great global reference for the cosmetic industry. France, Italy, Germany, Spain and other European countries have built a tremendously competitive ecosystem in operations and knowledge. Large groups, SMEs, manufacturers, ingredient or packaging suppliers, research centers, universities and the network of experts have made Made in Europe synonymous with quality, safety and innovation. Brands, innovation and knowledge.
China, market and industrial capacity, until now -we used to say, perhaps with too much presumption-. This scheme is insufficient today. China is developing increasingly sophisticated own cosmetic brands, scientific capabilities, new ingredients, formulation technologies, efficacy and safety evaluation systems and a powerful industrial infrastructure. Added to this is an extraordinarily dynamic digital ecosystem, capable of connecting product development, trends and consumers at a speed difficult to achieve.
Europe retains exceptional assets. The most important cosmetic companies in the world, an extremely sophisticated ingredient industry, leading research centers, an extraordinary tradition in perfumery and formulation, and an industrial fabric made up of thousands of highly specialized SMEs. In addition, the least tangible but fundamental asset, trust.
The challenge may not be to protect, but to ensure that our industry continues to have the capacity to innovate and compete.
Europe and China are simultaneously competitors, markets, suppliers, customers, and scientific and industrial partners. European companies need to better understand China, but Chinese companies also need to understand Europe. And precisely there is an enormous space for cooperation.