cosmetics

These immersive events have become an important tool for educating, engaging and selling products directly to beauty consumers across the continent, offering a way for global brands to connect more directly and with more authority.

The Italian cosmetics giant has deftly engineered a premiumisation strategy, and has elevated its distribution, product selection and points of differentiation, heavily reducing discounts and promotions in the process. Chief executive Simone Dominici explained how it deployed its strategy in The State of Fashion: Beauty Volume 2.

At The Business of Beauty Global Forum, Front Row’s chief revenue officer Christopher Skinner and Tatcha’s chief marketing officer Nicole Frusci joined BoF’s Alice Gividen on stage to explore building a lasting beauty business in an ever-changing market.

When growth plateaus, beauty companies may remix their logos, colour schemes and even products in the hopes of appealing to a wider audience or re-engaging their core. But finding a new brand identity can sometimes mean upsetting fans of the old one.

The Business of Beauty gathered founders and leaders from companies such as Bansk Beauty, Glossier, Kenvue, Shiseido, Puig Beauty, Printemps, Elemis, L’Oréal, Nars Cosmetics, Unilever and Coty to discuss building agility in a rapidly changing market.

The once-promising Chinese travel retail market is showing little signs of recovery, causing global beauty giants to reevaluate their strategies and reduce promotions.

After years of double-digit growth and a perception of being impervious to wider economic downturns, the beauty industry is finding that cash-strapped customers aren’t interested in “little luxuries.”

Brands founded in Mexico were already riding a wave of national pride, as more customers look for more culturally authentic brands. Now TikTok Shop, savvy marketing and improved trade policy are helping them grow to the next level.