cosmetics

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.

The company is targeting €1 billion in annual beauty sales by the end of its 2027 financial year, following a shift from licensing to direct management of the production and distribution of its fragrances, makeup and skincare, said CEO Alfonso Dolce.

Much like its Western counterpart TikTok, the short-form video app Douyin has become a vital part of the beauty marketing and e-commerce playbook in China. But growth on the app can be just as ephemeral as its trends.

The suit alleges that the December 2023 purchase of the brand’s assets was an unauthorised sale, and seeks damages for “unjust enrichment”.