L'Oréal Groupe, Beiersdorf, Givaudan, IFF, Kiko Milano and Ancorotti Cosmetics are behind The Value of Beauty, an alliance aimed at highlighting the economic and societal impact of the cosmetics industry to the European authorities.
Launched in Brussels on January 31, 2024, the alliance has published a report entitled " What is the Value of Beauty "The six founding members point out that the European beauty market generates €74.1 billion a year, and that 80 % of consumers in the European Union consider beauty products to be an essential part of their daily lives.
"With six founding members, the alliance represents different facets of our sector. I would like to welcome all members of our vast value chain, industry and associations to join the Value of Beauty Alliance. Together, we will amplify our voices and demonstrate the socio-economic importance of our industry for Europe".said Nicolas Hieronimus, CEO of L'Oréal Groupe.
The Value of Beauty alliance is open to all players who contribute to the cosmetics value chain in Europe and wish to participate in a better understanding of the ecosystem's economic and social contributions. Albéa and Puig have already committed to joining this collective effort.
