THE WHAT? Six major beauty manufacturers, namely L’Oreal, Beiersdorf, Givaudan, IFF, Kiko Milano and Ancorotti Cosmetics, have launched the Value of Beauty Alliance to highlight the industry’s economic and societal contribution to the European Union.
THE DETAILS The Alliance kicked off with the presentation of a report titled What is the Value of Beauty, which encapsulates the crucial role of the beauty value chain for the EU economy.
THE WHY? Nicolas Hieronimus, CEO of L’Oreal Groupe, explains, “With six founding members, the alliance represents different facets of our sector. I would like to welcome all members of our extensive value chain, industry and associations, to join hands with the Value of Beauty Alliance. Together we will amplify our voices and demonstrate the socio-econmic significance of our industry for Europe.”