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Brussels – The Value of Beauty Alliance, created to highlight the importance of Europe’s beauty value chain, will join L’Oréal, Beiersdorf, Givaudan, IFF, Kiko Milan and Ancolotti Cosmetics at a meeting in Brussels on Wednesday. The company will be inaugurated with the CEO and president of the company in attendance.
The six founding members launched a report titled “What is the value of beauty?” which aims to clarify the role that value chains have for the European Union’s economy and society, as well as for health and well-being. collected.
Europe’s beauty market generates €74.1 billion annually, and the report states that within the EU, 80% of consumers consider beauty products to be an essential part of their daily life.
“What is the value of beauty?” focuses on economics and innovation. health and welfare, and society and culture.
“With six founding members, this alliance represents many facets of our sector,” L’Oréal CEO Nicolas Hieronymus said in a statement. “I would like to welcome all members of our wide value chain, industries and associations to join the Value of Beauty Alliance. We will demonstrate its socio-economic importance.”
“Driven by the constant pursuit of innovation with a focus on sustainability, this vast and diverse ecosystem stretches across Europe, contributing to our economies, supporting our health and well-being, and supporting our lives. It shapes our society and culture,” continued Beiersdorf CEO Vincent Wernery.
Alvear and Puig have also committed to joining the partnership and said they welcome all companies contributing to the European cosmetics value chain and look forward to providing a better understanding of the economic and social contribution of the ecosystem. .