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Markets & trends

What happened this summer?

As the news did not really pause this summer, here is a back-to-work summary to refresh your memory.

Markets & trends

The relatively slow progression of the European cosmetics market encourages brands to find new sources of growth around the world. However, under the presidency of Donald Trump, the United States are apparently determined to give up their traditional role of global growth driver, at least if they do not get economic counterparts from it. Several categories of cosmetics are already impacted by the trade war launched against China and the European Union. This summer, politic and commercial tensions have spread to Turkey, which has imposed 60% customs duties on cosmetics originating from the USA.

Despite this tense climate, many market segments remain very dynamic. Taking advantage of the increasing porosity between the two categories, several makeup brands are making forays into the dynamic skin care market. Driven by the growing diversity of beauty markets, foundation was the star category of the summer.

In general, Asia continues to offer a steady pace of growth. The boom of the men’s beauty market in Korea and China prompted Chanel to launch its very first make-up line dedicated to male consumers. In China, L’Oréal and A.S. Watson are joining forces to roll-out a concept store dedicated to make-up. In parallel, Switzerland’s Mibelle announced its entry into the South Korean market with the purchase of dermocosmetics brand Dr. G.

It remains to be seen which area would be likely to take over from Asia? With its young and growing population, Africa seems ideal, despite a still massive poverty and poorly regulated markets.

As far as trends are concerned, let’s note the respective attempts from H&M and Shiseido to transform market codes of the perfumery and makeup markets, respectively.

Companies

On the acquisitions front, L’Oréal has acquired the German organic beauty brand Logona and the La Roche Posay thermal station in France, while Beiersdorf tapped into the skin microbiome trend through an investment in S-Biomedic.

On the supplier side, Arcade Beauty purchased the fragrance business of K Fragrance, while Amcor and Bemis announced their merger. Also noteworthy is the strategic partnership between Givaudan and the Indian company Synthite.

Eventually, with regard to brands, let’s mention the partnership between L’Oréal and Facebook to develop the virtual make-up tests, or the opening of a L’Occitane en Provence experiential boutique on New York’s 5th Avenue.

V.G.

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