Brussels – More than 250 guests gathered at the majestic Museum of Art and History in Brussels to support the launch of the Value of Beauty Alliance.
Participants on Wednesday night included members of the European Parliament and the European Commission, and the new alliance was formed to highlight the importance of the European beauty value chain. It can touch the heart and spirit that it is specifically trying to touch.
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The event brought together beauty industry executives and journalists, including L’Oréal CEO Nicolas Hieronymus and Beiersdorf CEO Vincent Wernery, as well as officials from EU governing bodies. I listened to the keynote speech by.
The partnership is the brainchild of Hieronymus and Wernery and includes four other founding members: Givaudan, IFF, Kiko Millan and Ancolotti Cosmetics, whose top executives also said, “What is the value of beauty?” I was there to assist in the presentation of a report entitled “Something.”
It aims to crystallize the role that the beauty value chain plays in the European Union’s economy and innovation. society and culture, and health and welfare.
In his speech, Hieronymus called the partnership “a very important milestone for the European beauty and personal care industry.”
He said: “In an increasingly complex and uncertain world, the beauty and personal care industry, with its value chains firmly rooted in Europe, is a very important contributor to economies across the EU and a conduit for growth. ” “We are a powerhouse of science and innovation, a proud exporter of Europe’s cultural heritage and a pioneer in the field of sustainability.
“And, of course, it is also an industry that brings happiness, well-being and confidence to countless millions of people around the world, and of course in Europe as well,” Hieronymus continued. “But despite this, our industry is often misunderstood, undervalued, and perceived as wasteful and superficial. We’ve heard it time and time again. As a result, regulations, etc. , you may face additional challenges and complexities.
“That’s why the Value of Beauty Alliance aims to change this narrative,” he said. “Our aim is to reveal beauty in the industry across the entire value chain, celebrate the positive impact of beauty and personal care, and present the ‘Value of Beauty’ report.”
Jerome said: “Tonight is the start of this journey. Our industry has a very sophisticated value chain that includes farmers and researchers, manufacturing, packaging suppliers and distribution.”
She explained that the alliance’s founding members represent different aspects of the beauty field.
“We would like to welcome all members of our broader value chain, industries and associations to join the Value of Beauty Alliance,” the executive said. “Together we will raise our voices and demonstrate the socio-economic importance of our industry in Europe.”
The beauty and personal care industry contributes significantly to Europe’s economic value and is an important driver of growth, Hieronymus continued. The EU beauty market will be worth €74 billion in 2022, equivalent to generating €200 million per day.
“This reflects the high value EU consumers have for beauty, with 80% believing that beauty is very important to their lives,” he said. .
Europe is a major market and major exporter of “high-quality and highly desirable goods around the world,” Hieronymus continued. “When you go to China or America, ‘Made in Europe,’ ‘Made in France,’ and ‘Made in Italy’ make a big difference in sales.”
Although the EU’s beauty market accounts for only one-third of the population, it ranks second in sales after the United States and ahead of China.
EU beauty exports generated approximately 24 billion euros in 2022. “France is one of the world’s leading exporters of beauty and personal care products,” Hieronymus said.
In 2023, the sector was the third largest contributor to the country’s external trade surplus, after aviation and wine and spirits.
Together, beauty and personal care are estimated to add at least €29 billion per year to the European economy.
“The sector also supports the livelihoods of millions of Europeans who are self-employed and work in companies as diverse as small and medium-sized enterprises and large multinationals such as L’Oréal,” Hieronymus explained. “In fact, across the EU, more than 3 million people will be employed in this sector in 2022. This means that the beauty and personal care industry will [a cornerstone] It is a strong supporter of the European economy, a beneficiary of the single market and supports millions of Europeans. ”
He explained how this field is the cradle of scientific progress. “Innovation not only provides consumers with a wider range of products, improves product performance and improves the environmental footprint of industry, but also enables the EU to achieve the most competitive advantage by combining economic prosperity with scientific ingenuity. It also helps ensure that we remain on the front lines,” Hieronymus said. . “In addition to improving business performance, all companies have a responsibility to consider their social and environmental impact.”
He said the beauty industry has long been committed to protecting the planet and people, and working on sustainable solutions across the value chain.
Mr. Hieronymus pointed out that in recognition of these efforts, in 2022, five beauty companies were among the 13 companies that received triple A ratings out of 15,000 candidates from CPD.
“We also recognize our responsibility to human rights across our diverse ecosystem, including working with suppliers who promote ethical and responsible practices and support fair working conditions.” Hieronymus he said.
“The beauty and personal care industry is integrated into consumers’ daily lives unlike most other industries,” Warnery continued.
He cited research showing that the average European consumer uses more than seven different beauty and personal care products every day, and nearly 13 different products on a weekly basis.
Approximately 2 billion people worldwide currently experience skin conditions such as acne, eczema, and skin cancer, and the incidence continues to increase. In Europe, up to 90 percent of the population claims to have some degree of skin sensitivity.
The beauty and personal care industry has an important role to play in alleviating these conditions, which can impact patients’ mental health, according to Warnery.
For example, sunscreen can help fight melanoma. Cases are on the rise, impacting 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 not only contribute to your physical health, but also to your mental well-being.
“The beauty industry also serves to connect Europeans to a common cultural heritage,” said Wernery, citing the example of luxury fragrances. “The beauty and personal care industry helps export various skills of European know-how, culture and traditions around the world.”
He said the industry also contributes to promoting a more diverse and inclusive society.
“The beauty and personal care industry is a dynamic sector that is constantly evolving, fueled by the constant pursuit of innovation. With a strong focus on sustainability, this vast and diverse ecosystem extends across Europe. ”Wannery said.
He extended the invitation for collaboration to new companies and organizations active in the value chain. “This is an open platform,” Warnery said.
Starting next week, the Alliance will launch a positioning campaign and will provide regular updates on its activities and progress throughout the year.
“Symbolically speaking, it is important to be here in Brussels today because this partnership is part of the solution for even better synergies between key actors, including European decision-makers. ,” Warnery said. “The future of our industry is bright. Key categories such as fragrance, hair care, skin care and make-up are all expected to grow at around 4-6% per year, contributing billions of dollars to the European economy. brings.
“With the support of all stakeholders, we must continue to strengthen our competitiveness at a global level so that we do not fall behind and are able to exploit the full potential of our industry.” he said.
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