BRUSSELS – More than 250 guests flocked to Brussels’ magnificent Museum of Art and History to help launch the Value of Beauty Alliance.
Among those present on Wednesday evening were members of the European Parliament and the European Commission; The new alliance specifically aims to touch hearts and minds, as the alliance was established to underline the importance of Europe’s beauty value chain.
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The event also included beauty executives and journalists listening to keynote speeches from L’Oréal chief executive Nicolas Hieronimus and Beiersdorf CEO Vincent Warnery, as well as figures from EU governing bodies.
The alliance is the brainchild of Hieronimus and Warnery, whose top executives ask “What is the Value of Beauty?” It includes four other founding company members (Givaudan, IFF, Kiko Milan and Ancorotti Cosmetics) who were on hand to help present a report titled:
This aims to clarify the role that the beauty value chain has for the economy and innovation of the European Union; society and culture, health and well-being.
In his speech, Hieronimus described the alliance as “a very important milestone for the European beauty and personal care industry.”
“In an increasingly complex and uncertain world, the beauty and personal care sector is a crucial contributor and growth channel for economies across the EU, with a value chain well-rooted in Europe,” he said. “We are a powerhouse in science and innovation, a proud exporter of European cultural heritage and a pioneer in sustainability.
“And of course it is also an industry that brings prosperity, happiness and self-confidence to countless millions of people around the world, but also in Europe,” Hieronimus continued. “But despite this, our industry is often misunderstood and underestimated, perceived as useless and superficial. I’ve heard this many times. As a result, we face increasing challenges and complexities, sometimes including regulations.
“So the Value of Beauty Alliance aims to change that narrative,” she said. “Our aim is to reveal the beauty of our industry across our entire value chain, celebrate the positive impact of beauty and personal care and enable the launch of the ‘Value of Beauty’ report.”
Hieronimus said: “Tonight marks the beginning of this journey. “Our industry has a very complex value chain that includes farmers and research scientists, manufacturing, packaging suppliers and distribution.”
She explained that the founding members of the alliance represent different aspects of the beauty industry.
“I invite all members of our broad value chain, industry and associations to join this Value of Beauty Alliance,” the executive said. “Together we will raise our voices and demonstrate the socio-economic importance of our sector in Europe.”
Hieronimus added that the beauty and personal care sector makes a significant contribution to Europe’s economic value and is an important engine of growth. The EU beauty market was worth €74 billion in 2022; This amounted to 200 million euros per day.
“This reflects EU consumers’ high regard for beauty, with 80 percent finding it very important to their lives,” he said.
Hieronimus added that Europe is “the flagship market and a major exporter of high-quality and highly desirable goods worldwide.” “When we go to China or the USA, ‘made in Europe’, ‘made in France’, ‘made in Italy’ really make a huge difference in sales.”
In terms of sales, the EU beauty market ranks second behind the US and ahead of China, despite having only a third of the population.
EU beauty exports will generate revenues of almost 24 billion euros in 2022. “France is the world’s leading exporter of beauty and personal care products,” said Hieronimus.
In 2023, the sector became the third largest contributor to the country’s positive foreign trade balance, after aviation, wine and spirits.
It is estimated that beauty and personal care together contribute at least 29 billion euros of added value to the European economy annually.
“The sector also supports the livelihoods of millions of Europeans who are self-employed or work in a wide range of companies, such as SMEs or large multinationals such as L’Oréal,” Hieronimus explained. “In fact, across the EU, the sector employed more than 3 million people in 2022. In other words, the beauty and personal care industry [a cornerstone] “It is a strong supporter of the European economy and beneficiary of the single market and supports millions of European citizens.”
He explained that the sector is the cradle of scientific developments. “Innovation not only offers consumers a broad range of products, improves product performance and improves the environmental footprint of our industry, but can also help ensure that the EU remains at the forefront of competitiveness by combining economic prosperity with scientific creativity,” said Hieronimus. . “In addition to driving business results, all companies now have a responsibility to consider their impact on society and the environment.”
He said the beauty industry has long been committed to protecting the planet and its people and is working on sustainable solutions across the value chain.
Hieronimus noted that the efforts were appreciated and that five beauty companies were among the 13 companies that received triple A grades from the CPD among 15,000 competitors in 2022.
“We also recognize that we have a responsibility for human rights across our diverse ecosystem, including working with suppliers that promote ethical and responsible practices and advocate for fair working conditions,” Hieronimus said.
“The beauty and personal care industry is embedded in our consumers’ daily lives like almost no other industry,” Warnery continued.
He cited a survey that found the average European consumer uses more than seven beauty and personal care products a day, and about 13 different products a week.
Today, approximately 2 billion people worldwide suffer from skin conditions such as acne, eczema and skin cancer, and their incidence continues to increase. In Europe, nearly 90 percent of the population claims to have some degree of skin sensitivity.
According to Warnery, the beauty and personal care industry plays a vital role in alleviating such disorders that can affect patients’ emotional health.
For example, sunscreen helps fight melanoma. These cases are increasing and affecting Europe’s healthcare system, which had to pay an estimated 2.7 billion euros in treatment costs alone in 2020.
Beauty and personal care products play a role not only in physical health but also in emotional well-being.
“The beauty industry also plays a role in connecting European citizens to their common cultural heritage,” Warnery said, citing fragrances as an example. “The beauty and personal care industry helps export diverse skills from Europe’s knowledge, culture and heritage around the world.”
He said the industry also helps support a more diverse and inclusive society.
“The beauty and personal care industry is a dynamic, ever-evolving industry fueled by the relentless pursuit of innovation. This large and diverse ecosystem, with a strong focus on sustainability, extends throughout Europe,” said Warnery.
He also conveyed the alliance’s invitation to new companies and associations working in the value chain. “This is an open platform,” Warnery said.
Starting next week, the alliance will begin its positioning campaign and provide regular updates on its actions and progress throughout the year.
“Symbolically, it’s important to be here in Brussels today because this alliance is part of the solution to achieve better synergy between major actors, including European decision-makers,” Warnery said. “The future of our industry looks bright. The core fragrance categories of hair care, skin care and make-up are projected to grow by 4 to 6 percent each year, bringing billions of dollars to the European economy.
“With the support of all stakeholders, we must ensure that we are not left behind, but we must also continue to increase our competitiveness at a global level to benefit from the full potential of our industry,” he said.
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