INDEPENDENT PUBLICATION BY raconteur.

net #0493 12 / 12 / 2017

THE BEAUTY
ECONOMY
DEMAND FOR DIVERSITY 06
SMALL BRANDS CAN
14
CONSUMERS CALL OUT
03 IN BEAUTY REVOLUTION
ATTRACT BIG MONEY UNETHICAL BRANDS
Successful independent brands are Misleading claims and confusion have
Call for recognition of difference in age, race, culture and gender targets in an active acquisitions market the potential to damage reputations

155
152

143

134

125
122

98

88
83

73
72
 RACONTEUR.NET 12 / 12 / 2017 THE BEAUTY ECONOMY 03

© 2017 The Body Shop International Plc All rights reserved Absolutely no reproduction without the permission of the owners ® Registered trademark of The Body Shop International Plc
FOREVER
DIVERSITY

THE BEAUTY
ECONOMY
Men and women demand
diversity in beauty revolution
AGAINST
DISTRIBUTED IN

PUBLISHED IN ASSOCIATION WITH

Big beauty brands risk a consumer backlash as women – and men
– call for recognition of difference in age, race, culture and gender

ANIMAL
ucts to use. Brands could also invest
RACONTEUR

David M. Benett/Getty Images

SHARON THIRUCHELVAM more research and development

O
into products for women of colour
PUBLISHING MANAGER PRODUCTION MANAGER
ur notions of beauty are who possess more melanin than
Eleanor Antonia Bolcas
Cowan-Rawcliffe shaped by culture and Caucasian women and tend to age

TESTING
DIGITAL CONTENT MANAGER weighed down by his- in different ways, experiencing pig-
PRODUCTION EDITOR Elise Ngobi torical baggage. For too mentation and skin sagging more
Benjamin Chiou long, the beauty industry has sided acutely than fine lines and wrinkles.
DESIGN
with tradition and commercial ex- A similar complacency has been
MANAGING EDITOR Samuele Motta
Peter Archer Grant Chapman pedience, serving up a narrow and shown towards the men’s market
Kellie Jerrard restrictive vision of beauty that was where choice is even more limited.
youthful, feminine, Euro-centric It is no secret that men have long
and light skinned. But just as glo- used traditionally female skincare
balisation and digital forces have re- products and there is a burgeoning
CONTRIBUTORS shaped society, norms around beau- market for cosmetics particular-
ty have also begun to shift. ly among younger men. The male
1 Empowered by the internet, con- grooming industry, encompassing
ROSIE GREEN EMILY SEARES sumers, beauty influencers and inde- moisturisers, pomades, body hair
Award-winning Freelance editor and pendent brands are chipping away at removal products and blemish con-
journalist, she is beauty writer, who specialises the power grip once exclusively held cealers, was worth close to $50 bil-
editor at large of Red in retail, fashion, by the glossy media, public relations lion in 2016 and is expected to grow.
magazine, and was beauty and luxury, she
industry and mainstream beauty CoverGirl, a long-time proponent
beauty director at both contributes to a range of
Red and Elle. national publications. brands. Together they are leading a of diversity in the United States,
revolution and setting diversity at made a statement with the release of
JOSH SIMS SHARON its heart. The diversity agenda calls their new mascara So Lashes, which
Freelance writer, he THIRUCHELVAM upon the industry to refocus business Singer Rihanna and British Vogue featured its first CoverBoy, 19-year-
has contributed to Writer specialising in on consumers as people, to enable editor Edward Enninful are champions old beauty blogger James Charles.
the Financial Times, culture and innovation, them to become the most beautiful of diversity in the beauty industry The same campaign also featured
Wallpaper* and Esquire,

BAN
and is editor of Viewpoint.
AHMED ZAMBARAKJI
Grooming editor of Shortlist
she has contributed to
The Independent, i-D,
Vice and Forbes.
versions of themselves, regardless of observant Muslim beauty blogger
age, race, culture and gender. their foundation match. Women editor-in-chief of Vogue in April, he Nura Afia, 24, a Colorado native,
There is an urgent commercial with darker skin tones often end up immediately recruited new person- who represents a powerful segment
necessity for big brands to listen to paying 70 per cent more for founda- nel including black and mixed-race of the global beauty market in Mus-

ANIMAL
Mode and formerly with consumers or lose ground to inde- tion from specialist ranges. staff. Renowned make-up artist lim women. Women who wear the
Arena, he is a regular pendents and internet-born beauty The opportunity is there and the Pat McGrath joined as beauty edi- hijab are often serious beauty en-
contributor to Mr Porter, GQ, companies. “The beauty industry demand is growing. When inter- tor-at-large and Vanessa Kingori as thusiasts, favouring full make-up
GetTheGloss and AskMen. is becoming increasingly complex; national superstar musician and publishing director. and dramatic looks. What is more,

TESTING IN
our instinct is to dislike complexity,
but we either embrace it or we’re not
going to be around,” Camillo Pane,
chief executive of French beauty
Barbados-born businesswoman Ri- Just as black and Asian women have the global halal beauty market is
hanna released her Pro Filter Foun- been ignored by the mainstream rapidly growing and is expected be
dation line, which carries 40 tones, beauty industry, so too have older worth $52.02 billion by 2025, ac-
the darkest sold out fastest. Black women. Finally brands have dropped cording to Grand View Research.

COSMETICS
conglomerate Coty, observed sagely
at this year’s WWD Beauty Summit.
Marc Rey, president and chief
executive of Shiseido Americas,
also points out that sales growth
of 42.7 per cent in the independent
#ForeverAgainstAnimalTesting segment is far outstripping that of
mainstream brands.
Part of the big brands’ problem
SIGN THE PETITION NOW has been complacency. The mete-
oric growth of the South Korean
thebodyshop.com/ban-animal-testing market over the past decade has
put the beauty industry’s innova-
Although this publication is funded through advertising and
tion shortfall in sharp perspective.
sponsorship, all editorial is without bias and sponsored features
are clearly labelled. For an upcoming schedule, partnership
The $13-billion market has pushed
inquiries or feedback, please call +44 (0)20 3877 3800 or email through innovations in product
info@raconteur.net categories, products, textures and
Raconteur is a leading publisher of special-interest content applicators. It has eaten the main-
and research. Its publications and articles cover a wide range stream market’s share in East and
of topics, including business, finance, sustainability, healthcare, South-East Asia because it has for-
lifestyle and technology. Raconteur special reports are published mulated products, among those that
exclusively in The Times and The Sunday Times as well as online
women invest more than £4.8 billion
on products and services each year
worldwide, and spend twice as much
as other consumers on skincare. By
2051, all of England and Wales will
be as ethnically diverse as London
is now, according to the Institute of
Practitioners in Advertising.
The issue could be one of lack of
awareness among the top guard.
When Ghana-born London-raised
Edward Enninful was appointed UK
marketing claims such as “anti-age-
ing” and “age defying” that imply
ageing is a shameful and ugly process.
But there is still much to be done.
Research by Mintel finds that older
women feel frustrated by a lack of
information and guidance on how to
care for their skin as it ages. Brands
have the opportunity to formulate
make-up lines for older skin, and
train their sales staff to show older
women what techniques and prod-
Multinational beauty brands
must ensure that their messaging
is broadly consistent across mar-
kets. It is too easy for localisation
to appear more like moral relativ-
ism. Many of the top beauty brands
selling skin-whitening products in
Asian and African markets, where
paler skin was traditionally associ-
ated with higher status, are catering
to a lucrative though morally ambig-
uous market that is predicted to be
worth £24 billion by 2024, accord-
ing to Global Industry Analysts.
Nivea one of the leading multina-
tionals selling skin-whitening prod-
ucts was founded in Hamburg in 1882
when Europeans also equated beau-
ty with paleness. The brand’s very
name derives from the Latin niveus
meaning snow white. This year Nivea

70% 36% £138

have broad appeal, specifically for came under fire for a grossly mis-
at raconteur.net
Asian skin types and face shapes. judged White is Purity campaign that
The information contained in this publication has been obtained
from sources the Proprietors believe to be correct. However, no
In the most fundamental of ways, ran in the Middle East. Just as such
legal liability can be accepted for any errors. No part of this the mainstream beauty industry of black and Asian feel available more spent each a campaign would be considered
publication may be reproduced without the prior consent of the has failed to cater for dark skin women in the UK guidance and year by this unacceptable in Germany today, so
Publisher. © Raconteur Media tones. There are notable exceptions feel that high street advice at stores is demographic on too should it be unacceptable to con-
of course – MAC and, most recently, stores don’t cater lacking beauty products sumers in Ghana, the Philippines,
L’Oréal with its True Match range – for their beauty Ivory Coast and South Africa. Brands
needs
@raconteur /raconteur.net @raconteur_london but in 2016 some 61 per cent of wom- ought to be leading the diversity
en in the UK were not able to find Superdrug 2016 agenda, not trailing behind it.
/beauty-economy-2017
 RACONTEUR.NET 12 / 12 / 2017 THE BEAUTY ECONOMY 03

© 2017 The Body Shop International Plc All rights reserved Absolutely no reproduction without the permission of the owners ® Registered trademark of The Body Shop International Plc
FOREVER
DIVERSITY

THE BEAUTY
ECONOMY
Men and women demand
diversity in beauty revolution
AGAINST
DISTRIBUTED IN

PUBLISHED IN ASSOCIATION WITH

Big beauty brands risk a consumer backlash as women – and men
– call for recognition of difference in age, race, culture and gender

ANIMAL
ucts to use. Brands could also invest
RACONTEUR

David M. Benett/Getty Images

SHARON THIRUCHELVAM more research and development

O
into products for women of colour
PUBLISHING MANAGER PRODUCTION MANAGER
ur notions of beauty are who possess more melanin than
Eleanor Antonia Bolcas
Cowan-Rawcliffe shaped by culture and Caucasian women and tend to age

TESTING
DIGITAL CONTENT MANAGER weighed down by his- in different ways, experiencing pig-
PRODUCTION EDITOR Elise Ngobi torical baggage. For too mentation and skin sagging more
Benjamin Chiou long, the beauty industry has sided acutely than fine lines and wrinkles.
DESIGN
with tradition and commercial ex- A similar complacency has been
MANAGING EDITOR Samuele Motta
Peter Archer Grant Chapman pedience, serving up a narrow and shown towards the men’s market
Kellie Jerrard restrictive vision of beauty that was where choice is even more limited.
youthful, feminine, Euro-centric It is no secret that men have long
and light skinned. But just as glo- used traditionally female skincare
balisation and digital forces have re- products and there is a burgeoning
CONTRIBUTORS shaped society, norms around beau- market for cosmetics particular-
ty have also begun to shift. ly among younger men. The male
1 Empowered by the internet, con- grooming industry, encompassing
ROSIE GREEN EMILY SEARES sumers, beauty influencers and inde- moisturisers, pomades, body hair
Award-winning Freelance editor and pendent brands are chipping away at removal products and blemish con-
journalist, she is beauty writer, who specialises the power grip once exclusively held cealers, was worth close to $50 bil-
editor at large of Red in retail, fashion, by the glossy media, public relations lion in 2016 and is expected to grow.
magazine, and was beauty and luxury, she
industry and mainstream beauty CoverGirl, a long-time proponent
beauty director at both contributes to a range of
Red and Elle. national publications. brands. Together they are leading a of diversity in the United States,
revolution and setting diversity at made a statement with the release of
JOSH SIMS SHARON its heart. The diversity agenda calls their new mascara So Lashes, which
Freelance writer, he THIRUCHELVAM upon the industry to refocus business Singer Rihanna and British Vogue featured its first CoverBoy, 19-year-
has contributed to Writer specialising in on consumers as people, to enable editor Edward Enninful are champions old beauty blogger James Charles.
the Financial Times, culture and innovation, them to become the most beautiful of diversity in the beauty industry The same campaign also featured
Wallpaper* and Esquire,

BAN
and is editor of Viewpoint.
AHMED ZAMBARAKJI
Grooming editor of Shortlist
she has contributed to
The Independent, i-D,
Vice and Forbes.
versions of themselves, regardless of observant Muslim beauty blogger
age, race, culture and gender. their foundation match. Women editor-in-chief of Vogue in April, he Nura Afia, 24, a Colorado native,
There is an urgent commercial with darker skin tones often end up immediately recruited new person- who represents a powerful segment
necessity for big brands to listen to paying 70 per cent more for founda- nel including black and mixed-race of the global beauty market in Mus-

ANIMAL
Mode and formerly with consumers or lose ground to inde- tion from specialist ranges. staff. Renowned make-up artist lim women. Women who wear the
Arena, he is a regular pendents and internet-born beauty The opportunity is there and the Pat McGrath joined as beauty edi- hijab are often serious beauty en-
contributor to Mr Porter, GQ, companies. “The beauty industry demand is growing. When inter- tor-at-large and Vanessa Kingori as thusiasts, favouring full make-up
GetTheGloss and AskMen. is becoming increasingly complex; national superstar musician and publishing director. and dramatic looks. What is more,

TESTING IN
our instinct is to dislike complexity,
but we either embrace it or we’re not
going to be around,” Camillo Pane,
chief executive of French beauty
Barbados-born businesswoman Ri- Just as black and Asian women have the global halal beauty market is
hanna released her Pro Filter Foun- been ignored by the mainstream rapidly growing and is expected be
dation line, which carries 40 tones, beauty industry, so too have older worth $52.02 billion by 2025, ac-
the darkest sold out fastest. Black women. Finally brands have dropped cording to Grand View Research.

COSMETICS
conglomerate Coty, observed sagely
at this year’s WWD Beauty Summit.
Marc Rey, president and chief
executive of Shiseido Americas,
also points out that sales growth
of 42.7 per cent in the independent
#ForeverAgainstAnimalTesting segment is far outstripping that of
mainstream brands.
Part of the big brands’ problem
SIGN THE PETITION NOW has been complacency. The mete-
oric growth of the South Korean
thebodyshop.com/ban-animal-testing market over the past decade has
put the beauty industry’s innova-
Although this publication is funded through advertising and
tion shortfall in sharp perspective.
sponsorship, all editorial is without bias and sponsored features
are clearly labelled. For an upcoming schedule, partnership
The $13-billion market has pushed
inquiries or feedback, please call +44 (0)20 3877 3800 or email through innovations in product
info@raconteur.net categories, products, textures and
Raconteur is a leading publisher of special-interest content applicators. It has eaten the main-
and research. Its publications and articles cover a wide range stream market’s share in East and
of topics, including business, finance, sustainability, healthcare, South-East Asia because it has for-
lifestyle and technology. Raconteur special reports are published mulated products, among those that
exclusively in The Times and The Sunday Times as well as online
women invest more than £4.8 billion
on products and services each year
worldwide, and spend twice as much
as other consumers on skincare. By
2051, all of England and Wales will
be as ethnically diverse as London
is now, according to the Institute of
Practitioners in Advertising.
The issue could be one of lack of
awareness among the top guard.
When Ghana-born London-raised
Edward Enninful was appointed UK
marketing claims such as “anti-age-
ing” and “age defying” that imply
ageing is a shameful and ugly process.
But there is still much to be done.
Research by Mintel finds that older
women feel frustrated by a lack of
information and guidance on how to
care for their skin as it ages. Brands
have the opportunity to formulate
make-up lines for older skin, and
train their sales staff to show older
women what techniques and prod-
Multinational beauty brands
must ensure that their messaging
is broadly consistent across mar-
kets. It is too easy for localisation
to appear more like moral relativ-
ism. Many of the top beauty brands
selling skin-whitening products in
Asian and African markets, where
paler skin was traditionally associ-
ated with higher status, are catering
to a lucrative though morally ambig-
uous market that is predicted to be
worth £24 billion by 2024, accord-
ing to Global Industry Analysts.
Nivea one of the leading multina-
tionals selling skin-whitening prod-
ucts was founded in Hamburg in 1882
when Europeans also equated beau-
ty with paleness. The brand’s very
name derives from the Latin niveus
meaning snow white. This year Nivea

70% 36% £138

have broad appeal, specifically for came under fire for a grossly mis-
at raconteur.net
Asian skin types and face shapes. judged White is Purity campaign that
The information contained in this publication has been obtained
from sources the Proprietors believe to be correct. However, no
In the most fundamental of ways, ran in the Middle East. Just as such
legal liability can be accepted for any errors. No part of this the mainstream beauty industry of black and Asian feel available more spent each a campaign would be considered
publication may be reproduced without the prior consent of the has failed to cater for dark skin women in the UK guidance and year by this unacceptable in Germany today, so
Publisher. © Raconteur Media tones. There are notable exceptions feel that high street advice at stores is demographic on too should it be unacceptable to con-
of course – MAC and, most recently, stores don’t cater lacking beauty products sumers in Ghana, the Philippines,
L’Oréal with its True Match range – for their beauty Ivory Coast and South Africa. Brands
needs
@raconteur /raconteur.net @raconteur_london but in 2016 some 61 per cent of wom- ought to be leading the diversity
en in the UK were not able to find Superdrug 2016 agenda, not trailing behind it.
/beauty-economy-2017
04 THE BEAUTY ECONOMY
Disrupting luxury skincare
Groundbreaking innovation is at the heart of ELEMIS, Britain’s number-one luxury skincare
brand. Complex formulas, developed using a powerful blend of science and nature, are
specially crafted by a dedicated team of skincare experts. But it’s ELEMIS’ outstanding results
that truly set the brand apart as a global skincare leader
THE ELEMIS STORY
A pioneer in the beauty space for
more than 25 years, ELEMIS was one
of the first brands to remove para-
bens from products and has always
led with the need to innovate. Having
the customer’s lifestyle needs at the
heart of its proposition is fundamen-
tal. “It’s about listening to the client
and wrapping innovation around
what the client wants,” says ELEMIS
co-founder Noella Gabriel. “As the
environment changes, so does our
skin and body needs. It’s not about
jumping on trends; it’s about setting
trends and changing the landscape.”
With three dynamic co-founders at
the helm, Ms Gabriel together with
Sean Harrington and Oriele Frank
embrace an entrepreneurial spirit
with a personal passion that con-
tinues to drive the brand vision for-
ward. “We have incredible integrity;
all three of us wouldn’t still be here
otherwise,” says Ms Gabriel. “We are
open and honest, every ingredient is
looked at, and we always question, is
there something better?”
With sales in the UK up 18 per cent
on last year and double-digit growth
of more than 50 per cent in the United
States, the results speak for them-
selves. ELEMIS also continues to buck
the trend as in October the brand saw
a 19 per cent increase compared with
2 per cent skincare market growth,
according to NPD data.
AN EVOLUTION OF NATURE
AND SCIENCE
ELEMIS Peptide 4 Night Recovery
Cream-Oil, launched this year, was
a phenomenal triumph for the skin-
care leader. Boasting a 100 per cent
success rate in user trials, all test-
ers agreed they “looked like they’d
had eight hours’ sleep” after using
it. At the core of this product is a
new super-botanical that has never
been commercially grown called
night-scented stock. Cultivated on
a family-run farm in Britain, it is high
in the essential fatty acid Omega-3
and has an excellent level of vitamin
E – an industry first for the brand.
Ms Gabriel says the ELEMIS prom-
ise is to deliver products that people
need and make a real difference.
She says: “Peptide4 was designed
for the mature millennial, who is time
poor and lacking sleep. It nourishes
and feeds the skin overnight, so you
get that radiant, morning glow. We
call it beauty sleep in a bottle and
in every country globally it has been
a success entering straight into the
brands top five.”
When it comes to product devel-
opment, the journey becomes as
important as the product itself. Ms
12 / 12 / 2017
Gabriel explains: “The smell, the
touch the feel and, of course, ulti-
mately the results. We bring out new
products that excite the client tex-
turally. The skin is alive and it needs
to be stimulated.”
Beauty editors’ favourite ELEMIS’
Pro-Collagen Marine Cream sells one
pot every nine seconds globally. And
along with a winning formulation, it is
the cream’s texture that plays a key
part in its remarkable success. “The
after-feel of Pro-Collagen is excep-
tional,” says Ms Gabriel. “The skin is
firm and hydrated, not oily or greasy.
It feels like a smooth canvas on which
to apply make-up.”
MORE THAN SKIN DEEP
For 2018, ELEMIS will add to its
best-selling and multi-award-win-
ning Pro-Collagen range with a
brand-new creation, Pro-Collagen
Overnight Matrix. Described as the
“next generation of Pro-Collagen”, it
uses groundbreaking drone peptide
technology to target specific areas,
where stress has impacted the skin
and is most in need of elastin and
collagen stimulation. Clinical trials
have proven it to “visibly bring back
bounce” to improve deep-set lines
and delay the signs of ageing.
With soaring consumer demand
for vegan products, ELEMIS will also
unveil a new Superfood Skincare
collection in February. Compiled of
a Superfood Cleanser, Day Cream,
Night Cream and Facial Oil, the prod-
ucts aim to “balance and strengthen
skin with pre-biotics”. With extracts
COMMERCIAL FEATURE
from greens, grains and superfoods,
the range will leave the complexion
“fresh, glowing and super healthy”.
ELEMIS’ Superfood has been de-
signed to target the ever-changing
need of the mature millennial.
THE SKINCARE DISRUPTOR
Exciting product releases are not
the only innovation from the brand
this year. ELEMIS has disrupted the
traditional on-counter beauty ex-
perience with its new ELEMIS Skin Ex-
change concept, introduced at John
Lewis in London’s Oxford Street. This
new concept has led to a 37 per cent
increase in ELEMIS’ services since its
launch in September.
The new personalised facial expe-
rience has the time-poor millennial
customer at its heart and comprises
three fifteen-minute “skin fix” ele-
ments, aiming to deliver “maximum
results, in minimum time”.
Ms Gabriel says she designed the
new facial concept like a build-
your-own salad bar. “You pick your
base, then add your fillings and fi-
nally the all-important toppings.
And wow, what they deliver to your
skin is what you will see in the mirror
– the results are instant,” she says.
ELEMIS has also recently launched
The House of ELEMIS, a new cou-
ture beauty experience located in a
Mayfair London townhouse. Aiming
to cater for people who are “serious
about looking after their skin and se-
rious about looking after themselves”,
it comprises a full wellness approach
to skincare, with treatments that de-
01
liver results at every level for the mind,
body and, most importantly, the skin.
A DIGITAL INNOVATOR
ELEMIS’ personal approach trans-
lates from product development and
store experience to pioneering dig-
ital campaigns that embrace com-
munity and engage at every step.
It launched #ELEMISeveryday this
year, a new digital lifestyle cam-
paign that handpicked some of the
UK’s biggest influencers to celebrate
the “little things that make your skin,
body and day a little bit better”.
As part of the campaign, it appoint-
ed four ELEMIS ambassadors, who
“embody the #ELEMISeveryday philos-
ophy and who live it”. The ambassa-
dors have been sharing insights on the
brand to their followers with lifestyle
tips, articles and all-round inspiration.
“I use the Pro-Collagen range and
I’ve never seen such a big change in my
skin. The products really work, which is
why I keep going back to them,” says
ELEMIS ambassador Anneli Bush.
Lifestyle influencer Ms Bush of an-
nelibush.com says the partnership
with ELEMIS was a natural one for
her. “I absolutely love ELEMIS. They
are constantly bettering their prod-
ucts and they really listen to their
customers. The Pro-Collagen Marine
Cream with SPF 30 is my absolute
It’s the evolution of a legacy
British brand into a skincare
digital disruptor
RACONTEUR.NET
02
03
01
New facial
hero-product and the one I tend to
concept; ELEMIS rave about the most,” she says.
Skin Exchange, Listening to feedback from enthused
John Lewis, Oxford influencers, such as Ms Bush, has in-
Street
spired ELEMIS to develop digital-only
02 collections, sold exclusively on ELEMIS.
For the mature com. Its latest one comprises of the
millennial; ELEMIS ELEMIS BIOTEC range of skin-energis-
Peptide4 Night
ing products together with the FOREO
Recovery Cream-Oil
Luna Play Brush in a travel collection.
03 It is the first time ELEMIS has brought
Best-selling in a third-party skincare solution
formula; ELEMIS
Pro-Collagen
and it did so in response to customer
demand. “We were constantly seeing
Marine Cream
influencers talk about how they loved
using the ELEMIS BIOTEC Cleanser
with their FOREO,” says Ms Gabriel.
Responding to changing environ-
ments and lifestyle are key influenc-
es in new product development for
ELEMIS. But the constant need to inno-
vate and disrupt continues to drive the
brand forward to its global success.
ELEMIS is now on a significant drive in
the United States, embracing a digi-
tal strategy to disrupt with relevance
through the Superfood launch exclu-
sively online and a game-changing
influencer campaign in 2018.
“It’s the evolution of a legacy Brit-
ish brand into a skincare digital dis-
ruptor,” says Ms Gabriel.
RACONTEUR.NET
NEW INFLUENCERS
Skincare is
now a serious
business
“Skintellectuals”
have launched a
counter-attack
aimed at changing
the beauty industry
ROSIE GREEN
G
lass skin, a dermis so
perfectly even, plump
and glossy it’s practically
reflective, might be the
latest trend out of South Korea, but
a flawless complexion has been high
on women’s wanted list since before
Cleopatra bathed in asses’ milk.
What has changed though is how
consumers are pursuing it. The in-
ternet and social media have creat-
ed a seismic shift in what consum-
ers want from their products, where
they’re getting them from and who’s
influencing them to buy.
“There’s a new breed of beauty cus-
tomer called ‘skintellectuals’,” says
Nadine Baggott, a beauty writer,
whose YouTube channel The Beauty
Know It All has 44,000 followers.
“These are intelligent, affluent
women who think seriously about
skincare, the same way they think
about what to eat or how they exer-
cise. They are looking for something
beyond the hype, for active ingre-
dients at percentages that work.
They’re not paying for pretty pack-
aging or a tub of dreams.”
Caroline Hirons, another beau-
ty expert and “skinfluencer” with
178,000 Instagram followers,
agrees. “Women are much more in-
formed now, so they don’t want to
be patronised. Cosmetics compa-
nies need to up their game on how
they communicate. The big brands,
the ones that dominate the beauty
halls, need to innovate. Some of
their websites are practically pre-
historic. The counters need to up
their game too.”
Jess de Bene, one half of Jessan-
dAmy, a new agency that specialises
in integrated communications strate-
gy, agrees and adds: “When this cus-
tomer comes to the counter she has
done her research beforehand. We’ve
found women are now learning about
skincare from vlogs in the same way
they learnt about make-up a few years
ago, so now counters need to be places
to play, test and experience the brand.
Investing in well-trained, knowledge-
able staff is crucial.”
Ms Baggott also sees a signifi-
cant change in modus operandi of
this new skincare-savvy consum-
er. “They’re looking for solutions to
problems rather than a promise,” she
says. “Think acne, rosacea and sun
damage.” This observation is borne
out by a UK Mintel study that says 44
per cent of consumers reported hav-
ing a skin condition last year.
Look on skinfluencers’ social
media feeds and they are full of
women asking about the benefits
of different molecular weights of
hyaluronic acid, what percentage
of vitamin C is most efficacious
and which active ingredients can
be combined safely.
Ms de Bene says this trend has
seen some of the bigger brands
change tack and focus on ingredi-
ents, marketing products to em-
phasise actives rather than more
abstract claims. Reflecting this shift
are magazine pages, which are now
regularly devoted to the transform-
ative power of ingredients. “A whole
page on vitamin C? That would nev-
er have happened five or ten years
ago,” says Ms Baggott.
It makes sense that the brands set
to capitalise on the skintellectuals
rise are science-based, chemist or
doctor-led brands. Think Dr Bar-
Women are much
more informed now,
so they don’t want
to be patronised
bara Sturm, Dr Dennis Gross, Col-
bert MD, 111SKIN, MZ Skin, Lancer,
Zelens, Indeed Laboratories, The
Ordinary, Niod, Murad and Skin-
Ceuticals. New launches this year
include the purposefully stream-
lined range Lixirskin formulated by
no-nonsense dermo-pharmacist Dr
Colette Haydon and Tula, a probi-
otic-based line created by gastroen-
terologist Dr Roshini Raj.
Why is this new environment
suiting them? In an overcrowded
market with high levels of dis-
Dr Barbara Sturm
02
trust, their selling point is their
obvious credibility, says buying
director of Space NK Margaret
Mitchell. “Customers still trust
the name and face of a doctor for
their advanced skincare needs,”
she says. To prove her point she
says Dr Gross has seen triple-digit
growth in 2017.
Tom Leman, partner and head of
retail and consumer at City law firm
Pinsent Masons, points to other fac-
tors that make such companies ap-
pealing to investors. “Now so much
beauty is sold online, customers are
craving interaction on a human lev-
el,” he says.
“If a brand’s figurehead is a doctor
who has a presence on social media
then that’s hugely beneficial. They
are influencers as well as creators.
The conversation between them
and their consumer creates strong
loyalty and that makes the compa-
12 / 12 / 2017 THE BEAUTY ECONOMY 05
Lixirskin
01
111SKIN
03
01
New launches ny hugely attractive to buyers be-
this year include cause it’s more likely to yield recur-
Lixirskin by dermo- ring income.”
pharmacist Dr
Another benefit of doctor-led
Colette Haydon
(right) brands, says Ms Mitchell, is that “their
customers are also their patients,
02 and they are working with them day
Dr Barbara Sturm,
in and day out in their practices and
specialist in
aesthetic medicine clinics, so they understand their skin-
care concerns. They use this direct
03 consumer insight and their technical
Dr Yannis
Alexandrides,
qualifications to develop the right
products at the right time”.
founder of 111SKIN
There’s no doubt the skintellectu-
al consumer loves the straight-talk-
ing, results-led approach. After
years of being fed pseudo-science
and campaigns dominated by ce-
lebrities, who may or may not have
used the product, they crave cred-
ible, efficacious formulations that
they can adapt to their changing
needs. It’s empowering. “I call it
the democratisation of skincare,”
says Ms Baggott.
And the companies that capitalise
on skintellectuals’ passion will win
big. A Lucintel study says the skin-
care market is set to be worth $135
billion by 2021. Beauty, it seems, just
got serious.
04 THE BEAUTY ECONOMY
Disrupting luxury skincare
Groundbreaking innovation is at the heart of ELEMIS, Britain’s number-one luxury skincare
brand. Complex formulas, developed using a powerful blend of science and nature, are
specially crafted by a dedicated team of skincare experts. But it’s ELEMIS’ outstanding results
that truly set the brand apart as a global skincare leader
THE ELEMIS STORY
A pioneer in the beauty space for
more than 25 years, ELEMIS was one
of the first brands to remove para-
bens from products and has always
led with the need to innovate. Having
the customer’s lifestyle needs at the
heart of its proposition is fundamen-
tal. “It’s about listening to the client
and wrapping innovation around
what the client wants,” says ELEMIS
co-founder Noella Gabriel. “As the
environment changes, so does our
skin and body needs. It’s not about
jumping on trends; it’s about setting
trends and changing the landscape.”
With three dynamic co-founders at
the helm, Ms Gabriel together with
Sean Harrington and Oriele Frank
embrace an entrepreneurial spirit
with a personal passion that con-
tinues to drive the brand vision for-
ward. “We have incredible integrity;
all three of us wouldn’t still be here
otherwise,” says Ms Gabriel. “We are
open and honest, every ingredient is
looked at, and we always question, is
there something better?”
With sales in the UK up 18 per cent
on last year and double-digit growth
of more than 50 per cent in the United
States, the results speak for them-
selves. ELEMIS also continues to buck
the trend as in October the brand saw
a 19 per cent increase compared with
2 per cent skincare market growth,
according to NPD data.
AN EVOLUTION OF NATURE
AND SCIENCE
ELEMIS Peptide 4 Night Recovery
Cream-Oil, launched this year, was
a phenomenal triumph for the skin-
care leader. Boasting a 100 per cent
success rate in user trials, all test-
ers agreed they “looked like they’d
had eight hours’ sleep” after using
it. At the core of this product is a
new super-botanical that has never
been commercially grown called
night-scented stock. Cultivated on
a family-run farm in Britain, it is high
in the essential fatty acid Omega-3
and has an excellent level of vitamin
E – an industry first for the brand.
Ms Gabriel says the ELEMIS prom-
ise is to deliver products that people
need and make a real difference.
She says: “Peptide4 was designed
for the mature millennial, who is time
poor and lacking sleep. It nourishes
and feeds the skin overnight, so you
get that radiant, morning glow. We
call it beauty sleep in a bottle and
in every country globally it has been
a success entering straight into the
brands top five.”
When it comes to product devel-
opment, the journey becomes as
important as the product itself. Ms
12 / 12 / 2017
Gabriel explains: “The smell, the
touch the feel and, of course, ulti-
mately the results. We bring out new
products that excite the client tex-
turally. The skin is alive and it needs
to be stimulated.”
Beauty editors’ favourite ELEMIS’
Pro-Collagen Marine Cream sells one
pot every nine seconds globally. And
along with a winning formulation, it is
the cream’s texture that plays a key
part in its remarkable success. “The
after-feel of Pro-Collagen is excep-
tional,” says Ms Gabriel. “The skin is
firm and hydrated, not oily or greasy.
It feels like a smooth canvas on which
to apply make-up.”
MORE THAN SKIN DEEP
For 2018, ELEMIS will add to its
best-selling and multi-award-win-
ning Pro-Collagen range with a
brand-new creation, Pro-Collagen
Overnight Matrix. Described as the
“next generation of Pro-Collagen”, it
uses groundbreaking drone peptide
technology to target specific areas,
where stress has impacted the skin
and is most in need of elastin and
collagen stimulation. Clinical trials
have proven it to “visibly bring back
bounce” to improve deep-set lines
and delay the signs of ageing.
With soaring consumer demand
for vegan products, ELEMIS will also
unveil a new Superfood Skincare
collection in February. Compiled of
a Superfood Cleanser, Day Cream,
Night Cream and Facial Oil, the prod-
ucts aim to “balance and strengthen
skin with pre-biotics”. With extracts
COMMERCIAL FEATURE
from greens, grains and superfoods,
the range will leave the complexion
“fresh, glowing and super healthy”.
ELEMIS’ Superfood has been de-
signed to target the ever-changing
need of the mature millennial.
THE SKINCARE DISRUPTOR
Exciting product releases are not
the only innovation from the brand
this year. ELEMIS has disrupted the
traditional on-counter beauty ex-
perience with its new ELEMIS Skin Ex-
change concept, introduced at John
Lewis in London’s Oxford Street. This
new concept has led to a 37 per cent
increase in ELEMIS’ services since its
launch in September.
The new personalised facial expe-
rience has the time-poor millennial
customer at its heart and comprises
three fifteen-minute “skin fix” ele-
ments, aiming to deliver “maximum
results, in minimum time”.
Ms Gabriel says she designed the
new facial concept like a build-
your-own salad bar. “You pick your
base, then add your fillings and fi-
nally the all-important toppings.
And wow, what they deliver to your
skin is what you will see in the mirror
– the results are instant,” she says.
ELEMIS has also recently launched
The House of ELEMIS, a new cou-
ture beauty experience located in a
Mayfair London townhouse. Aiming
to cater for people who are “serious
about looking after their skin and se-
rious about looking after themselves”,
it comprises a full wellness approach
to skincare, with treatments that de-
01
liver results at every level for the mind,
body and, most importantly, the skin.
A DIGITAL INNOVATOR
ELEMIS’ personal approach trans-
lates from product development and
store experience to pioneering dig-
ital campaigns that embrace com-
munity and engage at every step.
It launched #ELEMISeveryday this
year, a new digital lifestyle cam-
paign that handpicked some of the
UK’s biggest influencers to celebrate
the “little things that make your skin,
body and day a little bit better”.
As part of the campaign, it appoint-
ed four ELEMIS ambassadors, who
“embody the #ELEMISeveryday philos-
ophy and who live it”. The ambassa-
dors have been sharing insights on the
brand to their followers with lifestyle
tips, articles and all-round inspiration.
“I use the Pro-Collagen range and
I’ve never seen such a big change in my
skin. The products really work, which is
why I keep going back to them,” says
ELEMIS ambassador Anneli Bush.
Lifestyle influencer Ms Bush of an-
nelibush.com says the partnership
with ELEMIS was a natural one for
her. “I absolutely love ELEMIS. They
are constantly bettering their prod-
ucts and they really listen to their
customers. The Pro-Collagen Marine
Cream with SPF 30 is my absolute
It’s the evolution of a legacy
British brand into a skincare
digital disruptor
RACONTEUR.NET
02
03
01
New facial
hero-product and the one I tend to
concept; ELEMIS rave about the most,” she says.
Skin Exchange, Listening to feedback from enthused
John Lewis, Oxford influencers, such as Ms Bush, has in-
Street
spired ELEMIS to develop digital-only
02 collections, sold exclusively on ELEMIS.
For the mature com. Its latest one comprises of the
millennial; ELEMIS ELEMIS BIOTEC range of skin-energis-
Peptide4 Night
ing products together with the FOREO
Recovery Cream-Oil
Luna Play Brush in a travel collection.
03 It is the first time ELEMIS has brought
Best-selling in a third-party skincare solution
formula; ELEMIS
Pro-Collagen
and it did so in response to customer
demand. “We were constantly seeing
Marine Cream
influencers talk about how they loved
using the ELEMIS BIOTEC Cleanser
with their FOREO,” says Ms Gabriel.
Responding to changing environ-
ments and lifestyle are key influenc-
es in new product development for
ELEMIS. But the constant need to inno-
vate and disrupt continues to drive the
brand forward to its global success.
ELEMIS is now on a significant drive in
the United States, embracing a digi-
tal strategy to disrupt with relevance
through the Superfood launch exclu-
sively online and a game-changing
influencer campaign in 2018.
“It’s the evolution of a legacy Brit-
ish brand into a skincare digital dis-
ruptor,” says Ms Gabriel.
RACONTEUR.NET
NEW INFLUENCERS
Skincare is
now a serious
business
“Skintellectuals”
have launched a
counter-attack
aimed at changing
the beauty industry
ROSIE GREEN
G
lass skin, a dermis so
perfectly even, plump
and glossy it’s practically
reflective, might be the
latest trend out of South Korea, but
a flawless complexion has been high
on women’s wanted list since before
Cleopatra bathed in asses’ milk.
What has changed though is how
consumers are pursuing it. The in-
ternet and social media have creat-
ed a seismic shift in what consum-
ers want from their products, where
they’re getting them from and who’s
influencing them to buy.
“There’s a new breed of beauty cus-
tomer called ‘skintellectuals’,” says
Nadine Baggott, a beauty writer,
whose YouTube channel The Beauty
Know It All has 44,000 followers.
“These are intelligent, affluent
women who think seriously about
skincare, the same way they think
about what to eat or how they exer-
cise. They are looking for something
beyond the hype, for active ingre-
dients at percentages that work.
They’re not paying for pretty pack-
aging or a tub of dreams.”
Caroline Hirons, another beau-
ty expert and “skinfluencer” with
178,000 Instagram followers,
agrees. “Women are much more in-
formed now, so they don’t want to
be patronised. Cosmetics compa-
nies need to up their game on how
they communicate. The big brands,
the ones that dominate the beauty
halls, need to innovate. Some of
their websites are practically pre-
historic. The counters need to up
their game too.”
Jess de Bene, one half of Jessan-
dAmy, a new agency that specialises
in integrated communications strate-
gy, agrees and adds: “When this cus-
tomer comes to the counter she has
done her research beforehand. We’ve
found women are now learning about
skincare from vlogs in the same way
they learnt about make-up a few years
ago, so now counters need to be places
to play, test and experience the brand.
Investing in well-trained, knowledge-
able staff is crucial.”
Ms Baggott also sees a signifi-
cant change in modus operandi of
this new skincare-savvy consum-
er. “They’re looking for solutions to
problems rather than a promise,” she
says. “Think acne, rosacea and sun
damage.” This observation is borne
out by a UK Mintel study that says 44
per cent of consumers reported hav-
ing a skin condition last year.
Look on skinfluencers’ social
media feeds and they are full of
women asking about the benefits
of different molecular weights of
hyaluronic acid, what percentage
of vitamin C is most efficacious
and which active ingredients can
be combined safely.
Ms de Bene says this trend has
seen some of the bigger brands
change tack and focus on ingredi-
ents, marketing products to em-
phasise actives rather than more
abstract claims. Reflecting this shift
are magazine pages, which are now
regularly devoted to the transform-
ative power of ingredients. “A whole
page on vitamin C? That would nev-
er have happened five or ten years
ago,” says Ms Baggott.
It makes sense that the brands set
to capitalise on the skintellectuals
rise are science-based, chemist or
doctor-led brands. Think Dr Bar-
Women are much
more informed now,
so they don’t want
to be patronised
bara Sturm, Dr Dennis Gross, Col-
bert MD, 111SKIN, MZ Skin, Lancer,
Zelens, Indeed Laboratories, The
Ordinary, Niod, Murad and Skin-
Ceuticals. New launches this year
include the purposefully stream-
lined range Lixirskin formulated by
no-nonsense dermo-pharmacist Dr
Colette Haydon and Tula, a probi-
otic-based line created by gastroen-
terologist Dr Roshini Raj.
Why is this new environment
suiting them? In an overcrowded
market with high levels of dis-
Dr Barbara Sturm
02
trust, their selling point is their
obvious credibility, says buying
director of Space NK Margaret
Mitchell. “Customers still trust
the name and face of a doctor for
their advanced skincare needs,”
she says. To prove her point she
says Dr Gross has seen triple-digit
growth in 2017.
Tom Leman, partner and head of
retail and consumer at City law firm
Pinsent Masons, points to other fac-
tors that make such companies ap-
pealing to investors. “Now so much
beauty is sold online, customers are
craving interaction on a human lev-
el,” he says.
“If a brand’s figurehead is a doctor
who has a presence on social media
then that’s hugely beneficial. They
are influencers as well as creators.
The conversation between them
and their consumer creates strong
loyalty and that makes the compa-
12 / 12 / 2017 THE BEAUTY ECONOMY 05
Lixirskin
01
111SKIN
03
01
New launches ny hugely attractive to buyers be-
this year include cause it’s more likely to yield recur-
Lixirskin by dermo- ring income.”
pharmacist Dr
Another benefit of doctor-led
Colette Haydon
(right) brands, says Ms Mitchell, is that “their
customers are also their patients,
02 and they are working with them day
Dr Barbara Sturm,
in and day out in their practices and
specialist in
aesthetic medicine clinics, so they understand their skin-
care concerns. They use this direct
03 consumer insight and their technical
Dr Yannis
Alexandrides,
qualifications to develop the right
products at the right time”.
founder of 111SKIN
There’s no doubt the skintellectu-
al consumer loves the straight-talk-
ing, results-led approach. After
years of being fed pseudo-science
and campaigns dominated by ce-
lebrities, who may or may not have
used the product, they crave cred-
ible, efficacious formulations that
they can adapt to their changing
needs. It’s empowering. “I call it
the democratisation of skincare,”
says Ms Baggott.
And the companies that capitalise
on skintellectuals’ passion will win
big. A Lucintel study says the skin-
care market is set to be worth $135
billion by 2021. Beauty, it seems, just
got serious.
06 THE BEAUTY ECONOMY
BEAUTY ACQUISITIONS
Small brands can now attract big money
Successful
independent beauty
brands are the
targets of private
equity investors
as well as major
brands in an active
acquisitions market
JOSH SIMS
E
stée Edit has become a
benchmark moment. Brand
giant Estée Lauder’s launch
of its cosmetics and skin-
care range last year, complete with
stores, not to mention the face of
American reality TV star and fash-
ion model Kendall Jenner, has been
followed by its recent closure.
Estée Lauder argues the brand
targeted at millennials is no longer
necessary, claiming the valuable
insights afforded by the launch
have been passed into its other busi-
nesses. But perhaps there is another
reason: “There’s a growing recogni-
tion [among the corporate giants of
the health and beauty sector] that
acquisition is better than going it
alone when you don’t have the com-
petencies required by the market,”
as Matthew Wiseman has it.
Mr Wiseman is a partner at merg-
ers and acquisitions specialists Cat-
alyst, which he joined to enable the
company to enter what is proving to
be an especially dynamic sector. In-
deed, if just a few years ago the norm
was for small, promising brands to
be snapped by big corporations, the
sector is seeing a new fluidity.
While discerning investors have
long showed interest in the beau-
ty business, now the private equity
community, especially in the United
States, has taken note of the opportu-
nities it offers. Too Faced Cosmetics
was bought by private equity in 2015,
but later sold to Estée Lauder and e.l.f
Beauty, now listed on the stock ex-
change, was also bought by a private
equity company.
12 / 12 / 2017
Jerrod Blandino As trade and private equity buyers
and Jeremy
have accounted for roughly 60 per
Johnson,
co-founders cent and 40 per cent respectively of
of Too Faced, the 344 deals made since 2011, 35 of
the cosmetics them in the UK, even retailers are
brand bought by
getting in on the act; both the more
Estée Lauder for
$1.45 billion last traditional bricks-and-mortar kind,
December with the likes of Boots in the UK
and Target in the US, buying beauty
brands, and online operators, such as
The Hut Group, which this autumn
acquired spa brand ESPA.
“The shift is being driven by com-
petition as much as anything else,”
says Mr Wiseman. “Corporations live
or die by their rate of sales growth.
The private equity community now
thinks it has to be part of the sector,
because it’s seeing brands achieve
the kind of growth not being seen
in many other sectors, and in the
UK they’re ready to invest earlier in
brands with potential.
“Just as brands have to be different,
so do retailers, and those that own and
manage brands have a point of differ-
entiation, a high return on their in-
vestment and, perhaps just as impor-
tantly, bring in an expertise they can
RACONTEUR.NET
within just the last three years have
Dave Kotinsky/Getty Images for Too Faced
recorded turnovers in excess of $200
million – and, given the low barriers
of entry in launching a brand, the pro-
liferation of brands there to buy. But,
Mr Leach stresses, it’s the online world
that has changed everything.
“Acquisitions are so dynamic in the
health and beauty sector recently
because of online noise. It has given
a voice for new products and brands,
and a means to present purpose-spe-
cific products in a new, more direct
way, whereas previously it would
take ages just to get a new product
in front of stores and then in front of
consumers,” he says.
The internet has brought new lev-
els of transparency – claims made
just a few years ago might not pass
scrutiny today – it has circumvented
the traditional and expensive pro-
motional model of using celebrities
– now make-up artists and other ex-
perts with loyal and often impressive
followings have more credibility –
and it has allowed small companies
to build a community of fans. Such
companies are as much communi-
cations brands, perfecting a simple
message with an identifiable tone of
voice, as they are makers of products.
“It’s taken time for acceptance [of
that shift] to grow among consum-
ers,” says Mr Wiseman. “But the pre-
use in other aspects of their business.” says the recent ebullience might be miums being paid for a small beauty
But why now? Tim Leach, man- attributed to a number of factors. brand that successfully proves its
aging director of corporate finance These include corporations realising point of differentiation is only going
advisers Baylor Klein, specialists in that it’s lower risk to acquire a brand to go up, as it has especially over the
the household, personal and beau- than invent one, the huge growth of last 18 months.” No acquisition is
many smaller brands making them without risk, but it’s clear to see why
ty care sectors, having worked with
the likes of Ren, Bull Dog and Fudge, tempting prizes – brands launched many are thinking it’s time to buy.
DRIVERS OF BEAUTY OR PERSONAL CARE MERGERS AND ACQUISITIONS
ANALYSIS OF 214 M&A TRANSACTIONS FROM 2010 TO 2016
ACCESS TO
CONSUMERS
• Tap into core demographic trends
• Increase share of wallet with current customers 60%
• Take advantage of technological innovation
ACCESS TO
INNOVATION
to enhance products or selling processes
• Leverage scientifi c research and innovation 20%
to enhance product formulation
ACCESS TO
DISTRIBUTION
CHANNELS
• Expand downstream into distribution
• Enter white spaces or emerging channels 12%
• Enter mature or emerging markets
ACCESS TO
MARKETS
• Benefi t from local distribution and locally
relevant brands and capabilities
8%
A.T. Kearney 2016
Trend
leader in
the beauty &
personal care
ingredients
market
RACONTEUR.NET
CASE STUDY
THE HUT GROUP
“We’ve owned ESPA for what
is it now ten weeks and
sales are already 100 per
cent up on last year,” says a
happy Matt Moulding, chief
executive of online health
and beauty retailer The
Hut Group. The latest
purchase follows similar
acquisitions by The Hut
Group of Glossybox,
Illamasqua and RY.
“The vast majority of our
business is in servicing
brands. But in owning
them too we get insight we
wouldn’t otherwise have.
And what’s interesting is
that, in ownership, we’re
allowed to take brands
global. Understandably
brands we don’t own want
to do things at their own
pace, and have their own
ideas,” says Mr Moulding.
Growing the brands it
owns also serves another
purpose, he explains. Taking
a brand from very small to
very large demonstrates
The Hut Group’s capabilities
and serves as a calling card
for other small brands that
might be looking for a buyer.
But, Mr Moulding stresses,
the current buying spree
across the sector only works
because of its current level
of fragmentation.
“It’s not like, say,
sportswear, dominated
by a few huge players –
nobody is going to buy Nike
in a hurry,” he says. “OK,
so nobody is going to buy
L’Oréal in a hurry either, but
this is still a sector with a
lot of brands that could be
much, much bigger. And
we’re definitely looking
for more opportunities
for acquisition, not least
because the market is
expanding so fast. It’s
not a question of making
four, five or six brands very
big, but of being a brand
house. And for that, having
four or five out of perhaps
thousands of brands isn’t
going to cut it.”
The Hut Group was
founded on proprietary
technology that enables it
to provide a local solution
to some 190-plus territories
and to take a brand big in
one territory and repeat the
success in others. It trialled
other product sectors,
including fl owers and
fashion, but came to focus
on health and beauty for
its low levels of returns, high
levels of repeat custom, the
sector’s relative tardiness
in getting on to the online
retail bandwagon, and for
its chiming with the zeitgeist.
“Not many people don’t
want to be healthier or look
better,” Mr Moulding notes.
He concedes that the
process of acquisition is
“nerve-wracking, not least
because the sellers think
they’re selling their brand
at its peak, and you’re
betting on being able to
take it further”.
The Hut Group, which saw
its sales in 2016 grow by 50
per cent to £501 million, sees
its acquisitions as primarily
being of intellectual property.
“Unlike a lot of private equity
firms, we’re not looking to
ride the moment and then
sell out a few years later,”
Mr Moulding says. “I don’t
think we’ll see some reversal
back to the market being
dominated by just a few big
companies. I think we’ll see
more brand houses being
formed by buying up these
small brands. And more small
brands to buy.”
Matt Moulding, chief executive,
The Hut Group
Q&A Emerging
beauty brands
Stirling Murray, founder and managing director of The Red
Tree international beauty brand consultancy, shares his
insight into the latest trends in the market
W
hat for you is the most
significant overarching
trend in the beauty
industry at present?
More new independent brands are
emerging than ever before, par-
ticularly in the skincare category.
They are being launched by entre-
preneurial idealists, many of them
women and many from the west
coast of the United States.
The founders of these brands be-
lieve that we should pay just as much
attention to what we put on our skin
as to what we eat. They develop
natural and organic products that
they themselves want to use. They
are their own brand’s consumer, with
an intimate sense of what others like
them would want. And they disrupt
the once accepted way of doing
business by placing their consum-
er, their community, at the centre of
everything they do. Once they gain
momentum, they become an at-
tractive proposition for investment
and acquisition, fuelling the frenet-
ic mergers and acquisitions frenzy
we’ve seen in the last three years.
Why are there so many independent
brands entering the market right now?
There has never been a better time
to launch a brand, primarily be-
cause it is easier to get your product
noticed than ever before.
Multinational
companies crave the
speed and inventiveness
that independent
brands offer
12 / 12 / 2017
COMMERCIAL FEATURE
Marketing campaigns on social
media are cost effective. Facebook,
for example, is a perfect platform for
brand owners to demonstrate what
the product does and how it should be
used. These brand owners will sell their
product through their own website
even if retailers don’t stock it.
Why aren’t large corporates so suc-
cessful at creating these brands?
Being consumers themselves, brand
owners can respond quickly to chang-
ing tastes. They are agile, nimble and
creative, always filling gaps in the
market. They have a driving passion
that large corporates, immersed in
process and cold-headed deci-
sion-making, find difficult to replicate.
Their strength of belief and clarity of
vision make them extremely persistent.
They are utterly determined to create
something that makes a difference.
What happens to the independent
brands after their launch?
They tend to go through a similar
cycle. If the product gains traction
in the marketplace, the founder will
often seek external seed or first-
stage investment to scale up the
business. A mid-tier company or pri-
vate equity firm might then purchase
the brand to build the business further
and resell it. The final stage would be
a sale to a large corporate ideally
placed to achieve full scalability and
rapid growth through its global distri-
bution networks.
What should owners do to make their
brand attractive to buyers?
They must build their brand with an
early focus on selling it, seeing it
through the eyes of a would-be in-
THE BEAUTY ECONOMY 07
vestor. The right management team is
crucial. There is a large pool of former
brand owners who have sold their
business and are keen to help others
do the same. The potential for global
growth must be clearly presented.
Most importantly perhaps, the founder
must have an unswerving focus on the
brand’s values, establishing and pre-
serving the authenticity of the brand,
with no dilution. Everything the brand
founder says and does must be con-
sistent with this goal.
How have large corporates respond-
ed to these independent brands?
Multinational companies crave the
speed and inventiveness that the in-
dependent brands offer, making them
highly attractive targets for acquisi-
tion and investment. Look at Native
deodorants, founded less than three
years ago and newly acquired by
P&G. Another example is Too Faced,
purchased by Estée Lauder for more
than $1 billion.
Investment continues to flow into the
sector. Milk Makeup, the award-win-
ning cosmetics line, received its first
tranche of investment in 2017. Mented
Cosmetics, a make-up line for women
of colour, was handed $1 million of in-
vestment only months after launch.
Many more new brands are arousing
curiosity and interest.
The Red Tree is a leading UK inter-
national beauty brand consultancy,
with a proven track record in building
brands. Focussed on delivering results
it provides clients with the intellectual
capital acquired from a combined 60
years of global beauty experience.
For more information please visit
theredtree.co.uk
06 THE BEAUTY ECONOMY
BEAUTY ACQUISITIONS
Small brands can now attract big money
Successful
independent beauty
brands are the
targets of private
equity investors
as well as major
brands in an active
acquisitions market
JOSH SIMS
E
stée Edit has become a
benchmark moment. Brand
giant Estée Lauder’s launch
of its cosmetics and skin-
care range last year, complete with
stores, not to mention the face of
American reality TV star and fash-
ion model Kendall Jenner, has been
followed by its recent closure.
Estée Lauder argues the brand
targeted at millennials is no longer
necessary, claiming the valuable
insights afforded by the launch
have been passed into its other busi-
nesses. But perhaps there is another
reason: “There’s a growing recogni-
tion [among the corporate giants of
the health and beauty sector] that
acquisition is better than going it
alone when you don’t have the com-
petencies required by the market,”
as Matthew Wiseman has it.
Mr Wiseman is a partner at merg-
ers and acquisitions specialists Cat-
alyst, which he joined to enable the
company to enter what is proving to
be an especially dynamic sector. In-
deed, if just a few years ago the norm
was for small, promising brands to
be snapped by big corporations, the
sector is seeing a new fluidity.
While discerning investors have
long showed interest in the beau-
ty business, now the private equity
community, especially in the United
States, has taken note of the opportu-
nities it offers. Too Faced Cosmetics
was bought by private equity in 2015,
but later sold to Estée Lauder and e.l.f
Beauty, now listed on the stock ex-
change, was also bought by a private
equity company.
12 / 12 / 2017
Jerrod Blandino As trade and private equity buyers
and Jeremy
have accounted for roughly 60 per
Johnson,
co-founders cent and 40 per cent respectively of
of Too Faced, the 344 deals made since 2011, 35 of
the cosmetics them in the UK, even retailers are
brand bought by
getting in on the act; both the more
Estée Lauder for
$1.45 billion last traditional bricks-and-mortar kind,
December with the likes of Boots in the UK
and Target in the US, buying beauty
brands, and online operators, such as
The Hut Group, which this autumn
acquired spa brand ESPA.
“The shift is being driven by com-
petition as much as anything else,”
says Mr Wiseman. “Corporations live
or die by their rate of sales growth.
The private equity community now
thinks it has to be part of the sector,
because it’s seeing brands achieve
the kind of growth not being seen
in many other sectors, and in the
UK they’re ready to invest earlier in
brands with potential.
“Just as brands have to be different,
so do retailers, and those that own and
manage brands have a point of differ-
entiation, a high return on their in-
vestment and, perhaps just as impor-
tantly, bring in an expertise they can
RACONTEUR.NET
within just the last three years have
Dave Kotinsky/Getty Images for Too Faced
recorded turnovers in excess of $200
million – and, given the low barriers
of entry in launching a brand, the pro-
liferation of brands there to buy. But,
Mr Leach stresses, it’s the online world
that has changed everything.
“Acquisitions are so dynamic in the
health and beauty sector recently
because of online noise. It has given
a voice for new products and brands,
and a means to present purpose-spe-
cific products in a new, more direct
way, whereas previously it would
take ages just to get a new product
in front of stores and then in front of
consumers,” he says.
The internet has brought new lev-
els of transparency – claims made
just a few years ago might not pass
scrutiny today – it has circumvented
the traditional and expensive pro-
motional model of using celebrities
– now make-up artists and other ex-
perts with loyal and often impressive
followings have more credibility –
and it has allowed small companies
to build a community of fans. Such
companies are as much communi-
cations brands, perfecting a simple
message with an identifiable tone of
voice, as they are makers of products.
“It’s taken time for acceptance [of
that shift] to grow among consum-
ers,” says Mr Wiseman. “But the pre-
use in other aspects of their business.” says the recent ebullience might be miums being paid for a small beauty
But why now? Tim Leach, man- attributed to a number of factors. brand that successfully proves its
aging director of corporate finance These include corporations realising point of differentiation is only going
advisers Baylor Klein, specialists in that it’s lower risk to acquire a brand to go up, as it has especially over the
the household, personal and beau- than invent one, the huge growth of last 18 months.” No acquisition is
many smaller brands making them without risk, but it’s clear to see why
ty care sectors, having worked with
the likes of Ren, Bull Dog and Fudge, tempting prizes – brands launched many are thinking it’s time to buy.
DRIVERS OF BEAUTY OR PERSONAL CARE MERGERS AND ACQUISITIONS
ANALYSIS OF 214 M&A TRANSACTIONS FROM 2010 TO 2016
ACCESS TO
CONSUMERS
• Tap into core demographic trends
• Increase share of wallet with current customers 60%
• Take advantage of technological innovation
ACCESS TO
INNOVATION
to enhance products or selling processes
• Leverage scientifi c research and innovation 20%
to enhance product formulation
ACCESS TO
DISTRIBUTION
CHANNELS
• Expand downstream into distribution
• Enter white spaces or emerging channels 12%
• Enter mature or emerging markets
ACCESS TO
MARKETS
• Benefi t from local distribution and locally
relevant brands and capabilities
8%
A.T. Kearney 2016
Trend
leader in
the beauty &
personal care
ingredients
market
RACONTEUR.NET
CASE STUDY
THE HUT GROUP
“We’ve owned ESPA for what
is it now ten weeks and
sales are already 100 per
cent up on last year,” says a
happy Matt Moulding, chief
executive of online health
and beauty retailer The
Hut Group. The latest
purchase follows similar
acquisitions by The Hut
Group of Glossybox,
Illamasqua and RY.
“The vast majority of our
business is in servicing
brands. But in owning
them too we get insight we
wouldn’t otherwise have.
And what’s interesting is
that, in ownership, we’re
allowed to take brands
global. Understandably
brands we don’t own want
to do things at their own
pace, and have their own
ideas,” says Mr Moulding.
Growing the brands it
owns also serves another
purpose, he explains. Taking
a brand from very small to
very large demonstrates
The Hut Group’s capabilities
and serves as a calling card
for other small brands that
might be looking for a buyer.
But, Mr Moulding stresses,
the current buying spree
across the sector only works
because of its current level
of fragmentation.
“It’s not like, say,
sportswear, dominated
by a few huge players –
nobody is going to buy Nike
in a hurry,” he says. “OK,
so nobody is going to buy
L’Oréal in a hurry either, but
this is still a sector with a
lot of brands that could be
much, much bigger. And
we’re definitely looking
for more opportunities
for acquisition, not least
because the market is
expanding so fast. It’s
not a question of making
four, five or six brands very
big, but of being a brand
house. And for that, having
four or five out of perhaps
thousands of brands isn’t
going to cut it.”
The Hut Group was
founded on proprietary
technology that enables it
to provide a local solution
to some 190-plus territories
and to take a brand big in
one territory and repeat the
success in others. It trialled
other product sectors,
including fl owers and
fashion, but came to focus
on health and beauty for
its low levels of returns, high
levels of repeat custom, the
sector’s relative tardiness
in getting on to the online
retail bandwagon, and for
its chiming with the zeitgeist.
“Not many people don’t
want to be healthier or look
better,” Mr Moulding notes.
He concedes that the
process of acquisition is
“nerve-wracking, not least
because the sellers think
they’re selling their brand
at its peak, and you’re
betting on being able to
take it further”.
The Hut Group, which saw
its sales in 2016 grow by 50
per cent to £501 million, sees
its acquisitions as primarily
being of intellectual property.
“Unlike a lot of private equity
firms, we’re not looking to
ride the moment and then
sell out a few years later,”
Mr Moulding says. “I don’t
think we’ll see some reversal
back to the market being
dominated by just a few big
companies. I think we’ll see
more brand houses being
formed by buying up these
small brands. And more small
brands to buy.”
Matt Moulding, chief executive,
The Hut Group
Q&A Emerging
beauty brands
Stirling Murray, founder and managing director of The Red
Tree international beauty brand consultancy, shares his
insight into the latest trends in the market
W
hat for you is the most
significant overarching
trend in the beauty
industry at present?
More new independent brands are
emerging than ever before, par-
ticularly in the skincare category.
They are being launched by entre-
preneurial idealists, many of them
women and many from the west
coast of the United States.
The founders of these brands be-
lieve that we should pay just as much
attention to what we put on our skin
as to what we eat. They develop
natural and organic products that
they themselves want to use. They
are their own brand’s consumer, with
an intimate sense of what others like
them would want. And they disrupt
the once accepted way of doing
business by placing their consum-
er, their community, at the centre of
everything they do. Once they gain
momentum, they become an at-
tractive proposition for investment
and acquisition, fuelling the frenet-
ic mergers and acquisitions frenzy
we’ve seen in the last three years.
Why are there so many independent
brands entering the market right now?
There has never been a better time
to launch a brand, primarily be-
cause it is easier to get your product
noticed than ever before.
Multinational
companies crave the
speed and inventiveness
that independent
brands offer
12 / 12 / 2017
COMMERCIAL FEATURE
Marketing campaigns on social
media are cost effective. Facebook,
for example, is a perfect platform for
brand owners to demonstrate what
the product does and how it should be
used. These brand owners will sell their
product through their own website
even if retailers don’t stock it.
Why aren’t large corporates so suc-
cessful at creating these brands?
Being consumers themselves, brand
owners can respond quickly to chang-
ing tastes. They are agile, nimble and
creative, always filling gaps in the
market. They have a driving passion
that large corporates, immersed in
process and cold-headed deci-
sion-making, find difficult to replicate.
Their strength of belief and clarity of
vision make them extremely persistent.
They are utterly determined to create
something that makes a difference.
What happens to the independent
brands after their launch?
They tend to go through a similar
cycle. If the product gains traction
in the marketplace, the founder will
often seek external seed or first-
stage investment to scale up the
business. A mid-tier company or pri-
vate equity firm might then purchase
the brand to build the business further
and resell it. The final stage would be
a sale to a large corporate ideally
placed to achieve full scalability and
rapid growth through its global distri-
bution networks.
What should owners do to make their
brand attractive to buyers?
They must build their brand with an
early focus on selling it, seeing it
through the eyes of a would-be in-
THE BEAUTY ECONOMY 07
vestor. The right management team is
crucial. There is a large pool of former
brand owners who have sold their
business and are keen to help others
do the same. The potential for global
growth must be clearly presented.
Most importantly perhaps, the founder
must have an unswerving focus on the
brand’s values, establishing and pre-
serving the authenticity of the brand,
with no dilution. Everything the brand
founder says and does must be con-
sistent with this goal.
How have large corporates respond-
ed to these independent brands?
Multinational companies crave the
speed and inventiveness that the in-
dependent brands offer, making them
highly attractive targets for acquisi-
tion and investment. Look at Native
deodorants, founded less than three
years ago and newly acquired by
P&G. Another example is Too Faced,
purchased by Estée Lauder for more
than $1 billion.
Investment continues to flow into the
sector. Milk Makeup, the award-win-
ning cosmetics line, received its first
tranche of investment in 2017. Mented
Cosmetics, a make-up line for women
of colour, was handed $1 million of in-
vestment only months after launch.
Many more new brands are arousing
curiosity and interest.
The Red Tree is a leading UK inter-
national beauty brand consultancy,
with a proven track record in building
brands. Focussed on delivering results
it provides clients with the intellectual
capital acquired from a combined 60
years of global beauty experience.
For more information please visit
theredtree.co.uk
08 THE BEAUTY ECONOMY 12 / 12 / 2017 RACONTEUR.NET

BEAUTY IN NUMBERS

PRODUCT BREAKDOWN OF GLOBAL COSMETICS MARKET BIGGEST BEAUTY MANUFACTURERS WORLDWIDE

Based on net manufacturer prices excluding soap, toothpaste, razors and blades Ranked by estimated annual revenue for financial year ending 2016

18.2% 10.5% 1
Toiletries,
Make-up deodorants
$28.6bn
36.4%
Skincare

22.9% 12%
Perfumes
Haircare
2

$20.5bn
L’Oréal 2017

GROWTH RATE OF THE GLOBAL COSMETICS MARKET (%)

$15.4 bn
4
5
3.4 3.8
4.9 4.9 5 2.9 1 4.2 4.6 4.6 3.8 3.6 3.6 4 $11.4 bn
$7.7bn

1 3 5 7

2004 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15 ‘16 2 4 6 8
Euromonitor 2017

MOST PROFITABLE BEAUTY MANUFACTURERS*

Ranked by profit margin for financial year ending 2016

23% 21.4% 18.3% 18.1% 17.6%

2.6 4.1 5
0.1 0.5
Procter Noevir Unilever LG L’Oréal
& Gamble Holdings Household

Beauty includes fragrances, make-up, skincare, bodycare, suncare, haircare, deodorant, plus cellulite and shaving products; it does does not ta
 RACONTEUR.NET 12 / 12 / 2017 THE BEAUTY ECONOMY 09

Beauty is big business, with the beauty and cosmetics market estimated to generate
$445 billion in annual sales worldwide. This infographic explores the leading brands
by revenue and profits, and the biggest markets in terms of sales

PREDICTED SALES GROWTH OF PREMIUM AND MASS

BEAUTY WORLDWIDE
Estimated absolute sales value growth between 2016 and 2021

Mass Premium

14 $14.9bn
Asia-Pacific
$8.6bn
$4 bn
$9.6bn
Latin America
$1bn
13
$4.4bn
$4.1bn
Europe
$3.2bn

$2.7bn
North America
$5.7bn
12
$2.7bn
$5.1bn
Middle East
and Africa $1bn
Euromonitor 2016
11

$5.3bn
TOP 10 BEAUTY AND PERSONAL CARE MARKETS
10 WORLDWIDE ($BN)

6 9 $5.4 bn
7 8
$5.9bn $5.5bn
$5.6bn $5.5bn 80 50.7 32.2 20.3
United States China Japan Brazil

9 11 13
7.9 8.9 10.2 11.7 14.4 16.5

10 12 14 Spain Russia Italy India France Germany

Euromonitor 2017

Women’s Wear Daily 2017

Profit as a percentage of sales Operating profit ($bn)

16.9% 14.8% 14.3% 14.2% 13.7%

0.9 1.6
0.4 0.3 0.6
Natura Beiersdorf Estee Lauder Kosé Henkel
Cosméticos Companies Corporation

ake into account bar soaps, razors, toothpastes, foods and diet foods, medicines, vitamins or detergents Women’s Wear Daily 2017
10 THE BEAUTY ECONOMY 12 / 12 / 2017
INDIA
Beauty star
rising among
India’s rich
The beauty economy is blossoming
in India among the world’s biggest
democracy’s rising middle classes
SHARON THIRUCHELVAM
I
ndia’s beauty market is flourish-
ing on a scale not seen before.
Growing at a rate of 15 to 20 per
cent a year, according to KPMG, it
is expanding twice as fast as sales in
the United States and Europe.
The $6.5-billion market is set to
top $35 billion by 2035, research by
the Associated Chambers of Com-
merce and Industry in India (Asso-
cham) and MRSS India shows.
For such a populous country that
also possesses an historic and so-
phisticated beauty culture – it is the
birthplace of Ayurveda, henna, kohl
and threading, to name but a few –
the change is long overdue.
“The evolution of a lower-middle
class with higher disposable income
and a younger demographic, aged
between 16 and 20, who are heavily
influenced by digital media, are ac-
celerating this growth,” says Jean
Christophe, managing director of
L’Oréal India. “The market poten-
tial is huge, as premium contributes
only 10 per cent to the overall mar-
ket, while it is 60 per cent globally.”
Premium beauty, an area that was
historically underserved in India, is
seeing the greatest boost, outstrip-
ping growth in the mass market at 6
per cent compared with 1 per cent in
2017, according to the Indian Beau-
ty and Hygiene Association. Young
urban dwellers, who are behind the
growth in sales, are buying their im-
ported products online, with 62 per
cent reporting they prefer e-com-
merce to physical stores.
Premium beauty,
an area that
was historically
underserved in
India, is seeing the
greatest boost,
outstripping growth
in the mass market
The successful online beauty bou-
tique Nykaa, which takes Sephora
as its inspiration, is responsible for
seeding the growing nascent mar-
ket. Nykaa imports leading and
niche prestige and mass brands,
such as L’Oréal, Olay and Kiehl’s,
and provides a springboard for
emerging Indian beauty brands.
Founded in 2012, the company de-
livers to more than 900 cities and
has plans to open a store in every
major city by 2020. Catering for both
men and women, the site features
tutorials and how-tos on everything
from royal wedding make-up to sus-
tainable beauty master classes.
Where India truly trail blazes is in
the men’s market, which has grown
42 per cent in the last five years, far
faster than the personal-care market
as a whole, reports Assocham. Hair-
care, beard-grooming, scents, spa
treatments and even make-up are
of interest to the middle-class Indi-
an super-groomer. Hair and beard-
care are taken especially seriously,
with premium Indian brands, such
as Beardo, Ustraa, Bombay Shaving
Company, The Man Company and
Lets Shave, carrying a selection of
innovative products including mous-
tache growth roll-on and beard balm.
Reflecting a larger trend towards
the indigenous and natural, the most
intense competition in Indian beau-
ty is felt among natural and herbal
brands. In 2016, the sector experi-
enced 12 per cent growth, according
to Euromonitor. The same research
also found that more than half of In-
dian consumers consider natural or
organic features influence their hair
and skincare purchases.
India’s beauty exports, which al-
ready exceed imports, are expect-
ed to see a large part of their future
growth in the natural segment, ac-
cording to Chemexcil. Brands such
as Biotique, Himalaya Herbals, Blos-
som Kochhar, VLCC, Dabur, Lotus,
Jovees, Kama Ayurveda, Patanjali
and Just Herbs are just some of the
herbal ranges reaching European,
RACONTEUR.NET RACONTEUR.NET 12 / 12 / 2017 THE BEAUTY ECONOMY 11
COMMERCIAL FEATURE
NOEMI CASSANELLI/AFP/Getty Images
MANJUNATH KIRAN/AFP/Getty Images
Mapping facial
skincare
It can sometimes be easy to forget that
02 your skin is your body’s largest living
American and Asian markets. bric that at times may seem curious organ. And while we understand the
A name we should expect to hear
more of outside India is Forest Es-
and arbitrary, it essentially privileg-
es home-grown products and Indian
impact that diet, climate and stress can
sentials. The Ayurvedic concept line
markets itself as “the quintessential
traditions. Shower gel, for instance,
which is typically produced and
have on the rest of our body, its effect on
Indian beauty brand” and has back- sold by multinational companies in our skin is underrated
ers that include Estée Lauder. On a India, has been declared a premium
much smaller scale, the independ- product and hit with a tax hike. Sales
ent Mumbai-based vegan brand are expected to fall and swing back
Saattvikaa is entirely natural and in favour of plain bar soap, which is
01
O
homemade, and formulates prod- deemed an essential under GST.
ucts using ingredients such as cold- Colour cosmetics have been hit with ur skin defends our body your skin and, crucially, how your alongside asking you about your
01 pressed oils, organic herbs, natural a 24 to 28 per cent tax increase, making against a whole range of lifestyle affects your skin,” Derm- lifestyle, Dermalogica therapists
Indian fashion
designer Abhi
clays, organic essential oils and hy- the cheapest of eye shadows and lip- environmental attacks. alogica’s education director Sally will be able to advise on factors
Singh’s spring- drosol (distilled floral water). sticks less appealing to the lower-mid- It helps get rid of toxins Penford explains. such as pollution, hormonal chang-
summer collection Founded in 2016 by Charu Shah, dle classes. Analysis by Euromonitor and it continually renews itself. So Dermalogica’s Face Mapping® es or product usage and how
at the Amazon a former architect who grows many suggests that the lower end of the mar- why do we treat its care as a cos- allows the customer to build a pic- they’re affecting your skin.
India Fashion
Week in New Delhi
of the ingredients herself, the brand ket may fall off to the benefit of mass metic issue and not a health issue? ture of what’s going on with their For example, a lot of make-up
in October has more than 30 products, includ- sectors, as well as international players Though, of course, a certain skin past, present and future. A Der- contains artificial colour such as
ing soaps, toothpaste, hair and body such as Unilever’s Lakmé brand. amount of our skin’s behaviour malogica professional skin thera- D&C reds that can cause black-
02 oils, talcum powder, and shampoos GST also favours hair oils, classi- is predetermined, day-to-day pist uses Face Mapping to assess heads. Central heating and air
Prime minister
and conditioners. fied as a necessity and which have changes can affect our skin more every area of the facial landscape. conditioning can cause dehydra- Face Mapping is a crucial part To this end, Dermalogica works
Narendra Modi’s
Goods and The Indian beauty market faces chal- received an 18 per cent tax decrease, than you think and recognising that tion and contribute to crepe-like of Dermalogica’s dedication to at the cutting edge of skin tech-
Services Tax lenges, however. Despite surviving the while a 4 to 28 per cent tax rise has your skin is ever-changing is crucial texture on the skin. education. “We really want every nology, working on innovative ways
could have a initial impact of prime minister Nar- been whacked on shampoos and in developing a skincare routine “We play detective really,” Ms Pen- individual to be empowered with constantly to transform its prod-
big impact on
endra Modi’s demonetisation policies, conditioners. Euromonitor forecasts that really works for you.
We produce ford says. “You might, for example, knowledge about their skin to make ucts. Dermalogica’s vision is for skin
sales of colour
cosmetics that the sector is yet to feel the full effect of that the move will drive consump- Dermalogica’s core belief is that products that work be affected by seasonal changes. informed choices about the prod- health over beauty and its products,
will be hit with big the Goods and Services Tax (GST). tion of hair oils up by 2.3 million education is key to understanding When winter comes you may spend ucts they use,” says Ms Penford. free from common irritants and in-
tax hikes The GST, which came into force litres in 2018, giving international skin. It educates its therapists so more time indoors with the central “You might look at your face, but gredients that can cause breakouts,
in July, is the most far-reaching tax players a good reason to begin inno- they can pass the knowledge on to Through touch and sight they may heating on or you might play lots of not realise what it’s telling you. By reflect this. Dermalogica products
reform to have been undertaken in vating in this area where for the most the customer to make an informed ascertain conditions such as con- sport outside in the cold.” This in turn knowing things like, for example, are researched and developed by
India for 70 years. Possessing a ru- part local brands dominate. decision. “Our product is sold by gestion, breakouts, sensitivity, dehy- affects what products you need to being pregnant can affect the the International Dermal Institute,
professional skin therapists, people dration, and/or hyperpigmentation. use and when, such as a light foam- skin’s pigmentation, you can find which provides postgraduate edu-
who truly understand skin histol- By looking under a magnifying ing cleansing wash in summer or a the right product solutions at the cation in skin therapy. This dedica-
ogy and how ingredients affect lamp and observing skin up close, winter barrier cream. right time.” tion to the science is also reflected
INDIAN BEAUTY AND WELLNESS MARKET BREAKDOWN
Personalising your skincare in the no-nonsense branding, which
IN THOUSAND CRORES*
regime doesn’t mean that having focuses on results and not how
2012 2013 2014 2015 2016 2017
a core basic routine is a bad thing. pretty the bottle might look on your
“A skin therapist will get you on a bathroom shelf.
11.6 good solid daily regime that fits Having a trusted relationship
13.9
your overall skin type and your life- with a skin therapist means you
BEAUTY AND 16.7
style,” says Ms Penford. “But the in- are able to consult them when you
WELLNESS 18.4
22.1 teresting part is knowing what your have questions about your skin’s
26.5 skin needs each day when you look changes or you need a more inten-
in the mirror. This is where you can sive treatment. For example, if you
decide whether your skin needs a need dramatic results fast, Derm-
17.4
20.9 targeted product such as a serum, alogica’s ProSkin 30 treatment will
COUNTER
SALES OF 25.1 exfoliant or mask. It’s about having target your key skin goals from pig-
BEAUTY 27.6 a collection of key problem-solving mentation and scarring to uneven
PRODUCTS 33.1 products on hand to respond to skin tone or acne, in just 30 minutes.
39.7 what your skin needs that day.” In 60 minutes your skin therapist
These problem-solving products can take you and your skin on the
4.2 are a result of years of careful re- ultimate treatment experience.
5.1 search. Dermalogica’s products Developing a good skincare rou-
FITNESS AND 6.3 are created in response to real tine comes back to knowing that
SLIMMING 7
consumer needs without being your skin is an ever-changing story.
8.5
10.4 slave to the latest fads. “We pro- What works for you now might be
duce products that work,” says completely different in three months’
Mr Penford, simply. The outcomes or a year’s time and what your skin
1
are based on clinical studies and needs might not be what you think
1.3
the work of thousands of thera- it needs. Knowing who to turn to for
1.7
REJUVENATION
2.2 pists using Dermalogica products these answers is the first step.
2.9 around the world every day, rather
3.7 than the result of a marketing strat- For more information please visit
egy or knee-jerk reaction to trends. www.dermalogica.co.uk
*One crore is the equivalent of ten million rupees NSDC/KPMG 2016
10 THE BEAUTY ECONOMY 12 / 12 / 2017
INDIA
Beauty star
rising among
India’s rich
The beauty economy is blossoming
in India among the world’s biggest
democracy’s rising middle classes
SHARON THIRUCHELVAM
I
ndia’s beauty market is flourish-
ing on a scale not seen before.
Growing at a rate of 15 to 20 per
cent a year, according to KPMG, it
is expanding twice as fast as sales in
the United States and Europe.
The $6.5-billion market is set to
top $35 billion by 2035, research by
the Associated Chambers of Com-
merce and Industry in India (Asso-
cham) and MRSS India shows.
For such a populous country that
also possesses an historic and so-
phisticated beauty culture – it is the
birthplace of Ayurveda, henna, kohl
and threading, to name but a few –
the change is long overdue.
“The evolution of a lower-middle
class with higher disposable income
and a younger demographic, aged
between 16 and 20, who are heavily
influenced by digital media, are ac-
celerating this growth,” says Jean
Christophe, managing director of
L’Oréal India. “The market poten-
tial is huge, as premium contributes
only 10 per cent to the overall mar-
ket, while it is 60 per cent globally.”
Premium beauty, an area that was
historically underserved in India, is
seeing the greatest boost, outstrip-
ping growth in the mass market at 6
per cent compared with 1 per cent in
2017, according to the Indian Beau-
ty and Hygiene Association. Young
urban dwellers, who are behind the
growth in sales, are buying their im-
ported products online, with 62 per
cent reporting they prefer e-com-
merce to physical stores.
Premium beauty,
an area that
was historically
underserved in
India, is seeing the
greatest boost,
outstripping growth
in the mass market
The successful online beauty bou-
tique Nykaa, which takes Sephora
as its inspiration, is responsible for
seeding the growing nascent mar-
ket. Nykaa imports leading and
niche prestige and mass brands,
such as L’Oréal, Olay and Kiehl’s,
and provides a springboard for
emerging Indian beauty brands.
Founded in 2012, the company de-
livers to more than 900 cities and
has plans to open a store in every
major city by 2020. Catering for both
men and women, the site features
tutorials and how-tos on everything
from royal wedding make-up to sus-
tainable beauty master classes.
Where India truly trail blazes is in
the men’s market, which has grown
42 per cent in the last five years, far
faster than the personal-care market
as a whole, reports Assocham. Hair-
care, beard-grooming, scents, spa
treatments and even make-up are
of interest to the middle-class Indi-
an super-groomer. Hair and beard-
care are taken especially seriously,
with premium Indian brands, such
as Beardo, Ustraa, Bombay Shaving
Company, The Man Company and
Lets Shave, carrying a selection of
innovative products including mous-
tache growth roll-on and beard balm.
Reflecting a larger trend towards
the indigenous and natural, the most
intense competition in Indian beau-
ty is felt among natural and herbal
brands. In 2016, the sector experi-
enced 12 per cent growth, according
to Euromonitor. The same research
also found that more than half of In-
dian consumers consider natural or
organic features influence their hair
and skincare purchases.
India’s beauty exports, which al-
ready exceed imports, are expect-
ed to see a large part of their future
growth in the natural segment, ac-
cording to Chemexcil. Brands such
as Biotique, Himalaya Herbals, Blos-
som Kochhar, VLCC, Dabur, Lotus,
Jovees, Kama Ayurveda, Patanjali
and Just Herbs are just some of the
herbal ranges reaching European,
RACONTEUR.NET RACONTEUR.NET 12 / 12 / 2017 THE BEAUTY ECONOMY 11
COMMERCIAL FEATURE
NOEMI CASSANELLI/AFP/Getty Images
MANJUNATH KIRAN/AFP/Getty Images
Mapping facial
skincare
It can sometimes be easy to forget that
02 your skin is your body’s largest living
American and Asian markets. bric that at times may seem curious organ. And while we understand the
A name we should expect to hear
more of outside India is Forest Es-
and arbitrary, it essentially privileg-
es home-grown products and Indian
impact that diet, climate and stress can
sentials. The Ayurvedic concept line
markets itself as “the quintessential
traditions. Shower gel, for instance,
which is typically produced and
have on the rest of our body, its effect on
Indian beauty brand” and has back- sold by multinational companies in our skin is underrated
ers that include Estée Lauder. On a India, has been declared a premium
much smaller scale, the independ- product and hit with a tax hike. Sales
ent Mumbai-based vegan brand are expected to fall and swing back
Saattvikaa is entirely natural and in favour of plain bar soap, which is
01
O
homemade, and formulates prod- deemed an essential under GST.
ucts using ingredients such as cold- Colour cosmetics have been hit with ur skin defends our body your skin and, crucially, how your alongside asking you about your
01 pressed oils, organic herbs, natural a 24 to 28 per cent tax increase, making against a whole range of lifestyle affects your skin,” Derm- lifestyle, Dermalogica therapists
Indian fashion
designer Abhi
clays, organic essential oils and hy- the cheapest of eye shadows and lip- environmental attacks. alogica’s education director Sally will be able to advise on factors
Singh’s spring- drosol (distilled floral water). sticks less appealing to the lower-mid- It helps get rid of toxins Penford explains. such as pollution, hormonal chang-
summer collection Founded in 2016 by Charu Shah, dle classes. Analysis by Euromonitor and it continually renews itself. So Dermalogica’s Face Mapping® es or product usage and how
at the Amazon a former architect who grows many suggests that the lower end of the mar- why do we treat its care as a cos- allows the customer to build a pic- they’re affecting your skin.
India Fashion
Week in New Delhi
of the ingredients herself, the brand ket may fall off to the benefit of mass metic issue and not a health issue? ture of what’s going on with their For example, a lot of make-up
in October has more than 30 products, includ- sectors, as well as international players Though, of course, a certain skin past, present and future. A Der- contains artificial colour such as
ing soaps, toothpaste, hair and body such as Unilever’s Lakmé brand. amount of our skin’s behaviour malogica professional skin thera- D&C reds that can cause black-
02 oils, talcum powder, and shampoos GST also favours hair oils, classi- is predetermined, day-to-day pist uses Face Mapping to assess heads. Central heating and air
Prime minister
and conditioners. fied as a necessity and which have changes can affect our skin more every area of the facial landscape. conditioning can cause dehydra- Face Mapping is a crucial part To this end, Dermalogica works
Narendra Modi’s
Goods and The Indian beauty market faces chal- received an 18 per cent tax decrease, than you think and recognising that tion and contribute to crepe-like of Dermalogica’s dedication to at the cutting edge of skin tech-
Services Tax lenges, however. Despite surviving the while a 4 to 28 per cent tax rise has your skin is ever-changing is crucial texture on the skin. education. “We really want every nology, working on innovative ways
could have a initial impact of prime minister Nar- been whacked on shampoos and in developing a skincare routine “We play detective really,” Ms Pen- individual to be empowered with constantly to transform its prod-
big impact on
endra Modi’s demonetisation policies, conditioners. Euromonitor forecasts that really works for you.
We produce ford says. “You might, for example, knowledge about their skin to make ucts. Dermalogica’s vision is for skin
sales of colour
cosmetics that the sector is yet to feel the full effect of that the move will drive consump- Dermalogica’s core belief is that products that work be affected by seasonal changes. informed choices about the prod- health over beauty and its products,
will be hit with big the Goods and Services Tax (GST). tion of hair oils up by 2.3 million education is key to understanding When winter comes you may spend ucts they use,” says Ms Penford. free from common irritants and in-
tax hikes The GST, which came into force litres in 2018, giving international skin. It educates its therapists so more time indoors with the central “You might look at your face, but gredients that can cause breakouts,
in July, is the most far-reaching tax players a good reason to begin inno- they can pass the knowledge on to Through touch and sight they may heating on or you might play lots of not realise what it’s telling you. By reflect this. Dermalogica products
reform to have been undertaken in vating in this area where for the most the customer to make an informed ascertain conditions such as con- sport outside in the cold.” This in turn knowing things like, for example, are researched and developed by
India for 70 years. Possessing a ru- part local brands dominate. decision. “Our product is sold by gestion, breakouts, sensitivity, dehy- affects what products you need to being pregnant can affect the the International Dermal Institute,
professional skin therapists, people dration, and/or hyperpigmentation. use and when, such as a light foam- skin’s pigmentation, you can find which provides postgraduate edu-
who truly understand skin histol- By looking under a magnifying ing cleansing wash in summer or a the right product solutions at the cation in skin therapy. This dedica-
ogy and how ingredients affect lamp and observing skin up close, winter barrier cream. right time.” tion to the science is also reflected
INDIAN BEAUTY AND WELLNESS MARKET BREAKDOWN
Personalising your skincare in the no-nonsense branding, which
IN THOUSAND CRORES*
regime doesn’t mean that having focuses on results and not how
2012 2013 2014 2015 2016 2017
a core basic routine is a bad thing. pretty the bottle might look on your
“A skin therapist will get you on a bathroom shelf.
11.6 good solid daily regime that fits Having a trusted relationship
13.9
your overall skin type and your life- with a skin therapist means you
BEAUTY AND 16.7
style,” says Ms Penford. “But the in- are able to consult them when you
WELLNESS 18.4
22.1 teresting part is knowing what your have questions about your skin’s
26.5 skin needs each day when you look changes or you need a more inten-
in the mirror. This is where you can sive treatment. For example, if you
decide whether your skin needs a need dramatic results fast, Derm-
17.4
20.9 targeted product such as a serum, alogica’s ProSkin 30 treatment will
COUNTER
SALES OF 25.1 exfoliant or mask. It’s about having target your key skin goals from pig-
BEAUTY 27.6 a collection of key problem-solving mentation and scarring to uneven
PRODUCTS 33.1 products on hand to respond to skin tone or acne, in just 30 minutes.
39.7 what your skin needs that day.” In 60 minutes your skin therapist
These problem-solving products can take you and your skin on the
4.2 are a result of years of careful re- ultimate treatment experience.
5.1 search. Dermalogica’s products Developing a good skincare rou-
FITNESS AND 6.3 are created in response to real tine comes back to knowing that
SLIMMING 7
consumer needs without being your skin is an ever-changing story.
8.5
10.4 slave to the latest fads. “We pro- What works for you now might be
duce products that work,” says completely different in three months’
Mr Penford, simply. The outcomes or a year’s time and what your skin
1
are based on clinical studies and needs might not be what you think
1.3
the work of thousands of thera- it needs. Knowing who to turn to for
1.7
REJUVENATION
2.2 pists using Dermalogica products these answers is the first step.
2.9 around the world every day, rather
3.7 than the result of a marketing strat- For more information please visit
egy or knee-jerk reaction to trends. www.dermalogica.co.uk
*One crore is the equivalent of ten million rupees NSDC/KPMG 2016
12 THE BEAUTY ECONOMY 12 / 12 / 2017 RACONTEUR.NET RACONTEUR.NET 12 / 12 / 2017 THE BEAUTY ECONOMY 13

WELLNESS

juice-freak jamie

PUBLISHED ON

‘Wellness’ is juice-freak jamie

I’m beautiful and happy

not always a
healthy choice
Instead of helping ple become aware of, and make
choices towards, a more successful
a healthy lifestyle, existence”. But some 40 years later,
the word has become a far-reaching
wellness may be hashtag that fragments the class sys-
tem and encourages us to empty our
misunderstood pockets rather than take personal re-

and could be sponsibility for our actions. Wellness

has been used to sell everything from
turning toxic bee-sting therapy to recipe books.
For example, Goop, the wellness
juggernaut founded by Hollywood
star Gwyneth Paltrow – she of the
shiny skin and perma-smile – has
grown, with $15 million to $20 mil-
lion in venture capital, to include
AHMED ZAMBARAKJI certified organic skincare, supple-

I
t is no small coincidence that
the wellness industry is thriving
at a time when the NHS is in cri-
sis. Wellness may not be a sub-
stitute for medical attention, but it
has a benevolent softness about it.
It embodies the kind of humanity
that is increasingly scarce in an
overburdened and underfunded
healthcare system.
If GPs shrug their shoulders at
the ever-growing list of modern ail-
ments, such as food intolerances,
ments, clothing, a forthcoming
magazine published by Condé Nast
and a captive audience of one mil-
lion unique visitors a month.
But it’s not all snake oil. Certain as-
pects of the wellness movement have
tangible effects, especially those that
pre-date the craze; for instance, med-
itation, acupuncture, Ayurveda, yoga
and herbal medicine. And, as our in-
terest in health grows, nutrigenomics,
direct-to-consumer DNA testing and
preventative medicine hold a huge ogens, big pharma, endocrine dis- The problems came when clean As it turns out, wellness in the
amount of potential. ruptors and additives. But above all, eating was repackaged as a cure-all wrong hands, has very little to do

New digital-first
Providing insight for forward-thinking
executives, written by leading journalists,
adrenal fatigue and leaky gut, then The issue, of course, is not in the there is the fear of being fat. and doctors behind the movement with being healthy. On Instagram,
wellness gurus will readily prescribe products or practices themselves, A quick glance at social media were accused of being frauds. Alka- bikini-clad “yoginis” and endless
a three-week juice cleanse, a tub of but in the lack of regulation around confirms one undeniable fact that line pioneer Dr Robert Young, an in- gym selfies feature smug commen-

content hub on
supplements and some affirmations
thought-leaders and brands. printed on 100 per cent recycled
card. Whether or not their prescrip-
tion works is not the point; the value
wellness and, more importantly, the to be well is somehow synonymous spiration for clean-eating celebrities tary that is patronising, narcissistic,
dysfunctional thinking that under- with being thin. The face of well- Natasha Corrett and Vicki Edgson self-congratulatory and filled with
pins the marketing. Rather than ness is gaunt, the body impossibly of Honestly Healthy, implied that pseudo-science. This behaviour
encourage or champion our innate rakish. So-called clean eating, by his diet could cure cancer. Dr Young would be laughable were it not for

The Times online

We work to position your brand as leading
and credible in a respected environment,
that educates and engages audiences that
matter to your business.
for the consumer is in having their
individuality acknowledged.
In fact, the good, bad and outright
wacky has created an industry that
the Global Wellness Institute values
at $3.7 trillion. Of that figure, $999
billion can be attributed to beau-
desire to self-improve, the drive be-
hind wellness hinges on fear of the
unwell. There is the fear of carcin-
far the most visible and vilified of
all wellness fads, is in the midst of
a public backlash.
It began with the likes of Ella Wood-
ward, the poster girl for what is, os-
tensibly, sensible nutritional advice
to eat unprocessed, whole foods,
pocketed more than £62,000 from
a cancer patient for treatment that
involved injections of bicarbonate of
soda solution. The patient later died
and Dr Young was exposed for prac-
tising medicine without a licence.
Qualified doctors and food lovers,
the fact that these twenty-some-
thing faces have influence over a
demographic who genuinely want
to better themselves. Granted, we in
the UK are nowhere near peak Goop,
but we’re getting perilously close.
Wellness has become a member’s

Check out our latest content

ty and anti-ageing, $648 billion to
healthy eating, nutrition and weight
loss, and $542 billion to fitness and
at thetimes.co.uk/raconteur mind-body therapies. The most
visible wellness warriors are white,
Fitbit-wearing millennials who, fa-
mously, prefer to spend their money
on experiences rather than things.
The National Wellness Institute
in 1977 first defined the term as “an
active process through which peo-
and cut out sugar and gluten. She re-
Rather than leased the fastest selling cookbook of
encourage or all time and went on to launch a chain
champion our of delis, energy snacks and an online
subscription service. She played a
innate desire to central role in creating a free-from
self-improve, market that, according to market re-
the drive behind search firm Mintel, was worth £627
million in 2016. Today, however, she
wellness hinges on is smart enough to distance herself
fear of the unwell from the very term “clean eating”.
including Nigella Lawson and Hes-
ton Blumenthal, have publicly con-
demned the clean-eating fad, but
only now are the consequences be-
coming clear.
What started out as a prudent di-
etary tweak that could, on the sur-
face, help many people in the UK,
has turned into an eating disorder –
orthorexia is the obsessive pursuit
of a “healthy” diet.
club built on social standing, privilege
and, above all, beauty. Card-carrying
members have to conform to a phys-
ical ideal to gain access, strict criteria
that nullifies the very principles on
which the movement was founded,
and perpetuates dysmorphia.
It’s not all bad but, without au-
thenticity, regulation and hard
science, wellness may very well be
turning toxic.
12 THE BEAUTY ECONOMY 12 / 12 / 2017 RACONTEUR.NET RACONTEUR.NET 12 / 12 / 2017 THE BEAUTY ECONOMY 13

WELLNESS

juice-freak jamie

PUBLISHED ON

‘Wellness’ is juice-freak jamie

I’m beautiful and happy

not always a
healthy choice
Instead of helping ple become aware of, and make
choices towards, a more successful
a healthy lifestyle, existence”. But some 40 years later,
the word has become a far-reaching
wellness may be hashtag that fragments the class sys-
tem and encourages us to empty our
misunderstood pockets rather than take personal re-

and could be sponsibility for our actions. Wellness

has been used to sell everything from
turning toxic bee-sting therapy to recipe books.
For example, Goop, the wellness
juggernaut founded by Hollywood
star Gwyneth Paltrow – she of the
shiny skin and perma-smile – has
grown, with $15 million to $20 mil-
lion in venture capital, to include
AHMED ZAMBARAKJI certified organic skincare, supple-

I
t is no small coincidence that
the wellness industry is thriving
at a time when the NHS is in cri-
sis. Wellness may not be a sub-
stitute for medical attention, but it
has a benevolent softness about it.
It embodies the kind of humanity
that is increasingly scarce in an
overburdened and underfunded
healthcare system.
If GPs shrug their shoulders at
the ever-growing list of modern ail-
ments, such as food intolerances,
ments, clothing, a forthcoming
magazine published by Condé Nast
and a captive audience of one mil-
lion unique visitors a month.
But it’s not all snake oil. Certain as-
pects of the wellness movement have
tangible effects, especially those that
pre-date the craze; for instance, med-
itation, acupuncture, Ayurveda, yoga
and herbal medicine. And, as our in-
terest in health grows, nutrigenomics,
direct-to-consumer DNA testing and
preventative medicine hold a huge ogens, big pharma, endocrine dis- The problems came when clean As it turns out, wellness in the
amount of potential. ruptors and additives. But above all, eating was repackaged as a cure-all wrong hands, has very little to do

New digital-first
Providing insight for forward-thinking
executives, written by leading journalists,
adrenal fatigue and leaky gut, then The issue, of course, is not in the there is the fear of being fat. and doctors behind the movement with being healthy. On Instagram,
wellness gurus will readily prescribe products or practices themselves, A quick glance at social media were accused of being frauds. Alka- bikini-clad “yoginis” and endless
a three-week juice cleanse, a tub of but in the lack of regulation around confirms one undeniable fact that line pioneer Dr Robert Young, an in- gym selfies feature smug commen-

content hub on
supplements and some affirmations
thought-leaders and brands. printed on 100 per cent recycled
card. Whether or not their prescrip-
tion works is not the point; the value
wellness and, more importantly, the to be well is somehow synonymous spiration for clean-eating celebrities tary that is patronising, narcissistic,
dysfunctional thinking that under- with being thin. The face of well- Natasha Corrett and Vicki Edgson self-congratulatory and filled with
pins the marketing. Rather than ness is gaunt, the body impossibly of Honestly Healthy, implied that pseudo-science. This behaviour
encourage or champion our innate rakish. So-called clean eating, by his diet could cure cancer. Dr Young would be laughable were it not for

The Times online

We work to position your brand as leading
and credible in a respected environment,
that educates and engages audiences that
matter to your business.
for the consumer is in having their
individuality acknowledged.
In fact, the good, bad and outright
wacky has created an industry that
the Global Wellness Institute values
at $3.7 trillion. Of that figure, $999
billion can be attributed to beau-
desire to self-improve, the drive be-
hind wellness hinges on fear of the
unwell. There is the fear of carcin-
far the most visible and vilified of
all wellness fads, is in the midst of
a public backlash.
It began with the likes of Ella Wood-
ward, the poster girl for what is, os-
tensibly, sensible nutritional advice
to eat unprocessed, whole foods,
pocketed more than £62,000 from
a cancer patient for treatment that
involved injections of bicarbonate of
soda solution. The patient later died
and Dr Young was exposed for prac-
tising medicine without a licence.
Qualified doctors and food lovers,
the fact that these twenty-some-
thing faces have influence over a
demographic who genuinely want
to better themselves. Granted, we in
the UK are nowhere near peak Goop,
but we’re getting perilously close.
Wellness has become a member’s

Check out our latest content

ty and anti-ageing, $648 billion to
healthy eating, nutrition and weight
loss, and $542 billion to fitness and
at thetimes.co.uk/raconteur mind-body therapies. The most
visible wellness warriors are white,
Fitbit-wearing millennials who, fa-
mously, prefer to spend their money
on experiences rather than things.
The National Wellness Institute
in 1977 first defined the term as “an
active process through which peo-
and cut out sugar and gluten. She re-
Rather than leased the fastest selling cookbook of
encourage or all time and went on to launch a chain
champion our of delis, energy snacks and an online
subscription service. She played a
innate desire to central role in creating a free-from
self-improve, market that, according to market re-
the drive behind search firm Mintel, was worth £627
million in 2016. Today, however, she
wellness hinges on is smart enough to distance herself
fear of the unwell from the very term “clean eating”.
including Nigella Lawson and Hes-
ton Blumenthal, have publicly con-
demned the clean-eating fad, but
only now are the consequences be-
coming clear.
What started out as a prudent di-
etary tweak that could, on the sur-
face, help many people in the UK,
has turned into an eating disorder –
orthorexia is the obsessive pursuit
of a “healthy” diet.
club built on social standing, privilege
and, above all, beauty. Card-carrying
members have to conform to a phys-
ical ideal to gain access, strict criteria
that nullifies the very principles on
which the movement was founded,
and perpetuates dysmorphia.
It’s not all bad but, without au-
thenticity, regulation and hard
science, wellness may very well be
turning toxic.
14 THE BEAUTY ECONOMY 12 / 12 / 2017 RACONTEUR.NET RACONTEUR.NET 12 / 12 / 2017 THE BEAUTY ECONOMY 15

ETHICAL BEAUTY OPINION COLUMN

Savvy consumers can ca ll out unethical brands ‘Without

Misleading claims and confusion have the 1 per cent natural ingredients. “Big well-educated

Dia Dipasupil/Getty Images For NYFW: The Shows

cosmetics fi rms love to use the word
potential to damage beauty brands that
professionals, who
‘natural’ on their products, but
most skincare creams use synthetic
are not completely honest and transparent chemicals, some of which are po-

about their ethical credentials

continue to learn and
tentially toxic,” the guide says.
Kat Alexander, director of the
Ethical Company Organisation,

develop throughout
which publishes The Good Shopping
Guide’s Ethical Company Index,
says: “Our research relates to the re-

their careers,
cords of the companies behind the
She says: “It is the brands that tout brands. In some cases, apparently
EMILY SEARES their ethical status, but don’t deliver ethical brands score much lower

business does not

E
that are the worst. Millennials are than the public would expect be-
thical” is applied liberally in some of the most educated in the cause their ultimate holding compa-
today’s beauty industry, from ethical space, and are highly critical ny is involved in less ethical practic-

thrive and economies

vegan products to recycla- and vocal when brands don’t deliver es, often on behalf of other brands in
ble packaging, cruelty-free on what they promise.” their wider brand portfolios.”
to sustainable sourcing. A sliding Mintel’s Natural, Organic and Along with the issue of brands

scale of what’s considered ethical,
combined with a lack of regulation
and clever so-called green-washing
by some brands, has left many con-
sumers confused and misled.
Sue Daun, executive creative di-
rector at global brand consultancy
Interbrand, says the beauty indus-
try can be one of the worst when it
comes to truly ethical operations.
“Big brands are talking the talk, but
not consistently walking the walk,”
she says.
Ms Daun accuses Yves Saint Lau-
rent and Maybelline, owned by
L’Oréal, as among the worst cul-
Ethical Toiletries report confi rms
just this, with more than 60 per cent
of consumers saying they would
stop using a brand if they found it
to have “unethical practices”. But
difficulty comes in defi ning these
unethical practices. With almost
three quarters of those questioned
saying they found it hard to know
how ethical a brand truly is.
Protecting the environment, recy-
clable packaging and animal welfare
were all listed as top ethical issues
by consumers, while 43 per cent of
those surveyed said they would con-
sider a brand’s ethical stance before
global corporations making “ethical”
Cosmetics giant NARS found this
do not grow’
expanding into new international
markets, such as China, the matter
of brand equity is questioned when
a seemingly “ethical” company is
bought out by a not-so-ethical par-
ent company. Men’s skincare brand
Bulldog is a case in point. CAROLINE NEVILLE
Ms Alexander explains: “Bulldog President
did have Ethical Company Organisa- CEWUK
tion accreditation, but this year has
slipped down the rankings due to a In the UK, CEW has be- CEW champions two
brand buyout by Edgewell Personal come the most influ- key drivers of our
Care. Bulldog has a cruelty-free in- ential organisation vibrant economy
ternational certification, but its new promoting and de- – small and medi-
parent company tests on animals.” fi ning the British um-sized enter-
tributes to people not knowing if a In contrast, The Body Shop has beauty industry. prises (SMEs) and

50 Years’ Experience as a Global prits, following claims to abolish

Pioneer of 100% Certified
Natural and Organic Products
The Best Kept Natural Beauty Secret
Your skin inherently knows how to look after and
renew itself. Our products do not take over these tasks,
the use of microbeads in all cosmet-
ics, but apparently only eliminat-
ing them from exfoliants, washes
and shower gels.
SELECTED ETHICAL SKINCARE RANKINGS
The scores relate to the records of the enterprises behind the brands, so while specifi c brands may be more “ethical”,
their score may be brought down by their less ethical parent companies
TOP RATING MIDDLE RATING
buying for the first time.
Roshida Khanom, Mintel’s associ-
ate director for beauty and personal
care, says consumers are becoming
more and more sceptical about large,
BOTTOM RATING
tin le
promises. She explains: “If a brand
claims to stand for something, then
they need to stay true to this. And in
the age of social media, consumers
are quick to call them out.”
out the hard way. It faced a consum-
er backlash in the summer after
revoking its cruelty-free status to
enter the Chinese market. China
demands animal testing on all im-
ported cosmetics, which poses a big
dilemma for brands looking to ex-
pand internationally.
NARS customers were quick to
take to social media, calling for a
boycott of the make-up giant that
they claimed chased “profits over
principles”. Ethical beauty advo-
cate and influencer Kat Von D’s re-
brand is really ethical.”
Unlike the food industry, which
moved up the rankings after it was
sold to the more ethical parent com-
With more than
1,100 members and
education. With-
out well-educated
strictly polices the use of the word pany Natura Cosméticos S.A. With a board consisting professionals, who
“organic”, the beauty industry has
a voluntary certification process
ethical beauty including such a broad
spectrum of areas, offering consum-
of an unrivalled, pres-
tigious group of indus-
continue to learn and
develop throughout their
when it comes to ethical, natural or ers choice so they can make informed try leaders, CEW is the most careers, business does not
organic certified products. decisions is key, says Ms Alexander. qualified and experienced voice in thrive and economies do not grow.
Sarah Brown, founder of Pai Skin- Brands such as Neal’s Yard and UK beauty. By defi nition SMEs are business-
care, feels a lot of customers are Green People scored 100 per cent on In our 25th anniversary year in es with a turnover of less than
being misled and duped. “Brand the Ethical Company Index. “Both the UK, we can look back on our £25,000 and fewer than 250 em-
green-washing is a big issue. If con- brands are great examples of ethical achievements with pride. Our ployees. They represent 99 per cent
sumers are paying a premium for companies which started out with business breakfasts programme, of the UK private sector and prob-
a product, they need to know what a purpose to do things right. Their our ongoing engagement with ably 99 per cent of the CEW mem-
they think they’re buying, they ac- products are ethical – organic, natu- the government, now in its bership. Agile and successful SMEs

Pu ion al

sm rd

tio al

10 re
w ar

re l
r l

ifieally

fa a
po ta

ke sib

t ic

ita thic
el m

0)
n

ts

of co
en t

ic

er

sponse at the time that NARS had tually are,” she says. ral, without animal-cruelty – and the provide the innovation and creativ-

ci o
fourth year, and our two superb
po cle
re en

ria

iti c
od ic

na olit
an

en
w Ani

but support your skin’s natural processes, guiding

s
ar n

cr ic re
m et

Nu
m

ed E
ta

m po

ut x
am
rg

do P
“chosen a pay check over compas- companies behave in a responsible recognition platforms – CEW ity that drive the industry forward
on

(o de
ge
O

es

bl
vir

m
G

In
Ve

it to a state of balance. Dr. Hauschka products are

Irr

cr
sion” received almost 130,000 likes, manner,” Ms Alexander explains. Achiever Awards for top talent and make the UK a world leader in
Ar
En

formulated with unique, high-quality plant extracts
and natural ingredients from organic, biodynamic
and natural sources.
NATRUE Certified – A Guarantee That Products
Are As Natural And Organic As Can Be
Our products are free from synthetic fragrances, dyes
and preservatives, as well as mineral oil, silicones
and PEGs. We also do not test on animals and are
committed to socially-responsible business practices.
www.dr.hauschka.co.uk
www.NATRUE.org
facebook.com/drhauschka.uk @drhauschkagb
ac
ten times the number on NARS’ With beauty giants such as John- and CEW Beauty Awards, cele- beauty. SMEs also thrive through
original post. son & Johnson, Unilever, Estée Laud- brating excellence and creativity entrepreneurial spirit, commer-
Neal’s Yard Remedies
Neal’s Yard 100 But what constitutes ethical for
The beauty industry er Companies and the L’Oréal Group in product and innovation – are cial expertise and enterprise for
(Natural Remedies)
one consumer might be quite dif- dwindling below 50 per cent on the unrivalled and go from strength which the country is known, and
ferent for another. Data insights has a voluntary index, it comes as no surprise that to strength. which we will need as we approach
Lush
Lush Cosmetics Ltd
92 provider Hitwise has revealed that certification process big household names have clubbed While celebrating our anniversa- a post-Brexit world.
UK internet searches for “vegan together to form a new initiative. ry this November at The Dorches- To help further understand
when it comes to
L’Occitane
75
beauty” soared 820 per cent from
ethical, natural or
This new body, the Responsible ter in London and to honour this the scope and size of the beauty
L’Occitane January to November this year. Beauty Initiative, was launched in year’s Achiever Award winners, I industry and its importance to
International SA
This surging demand is driven by organic certified 2017 by Clarins, Coty, L’Oréal and reflected the challenges the found- the UK economy, CEW has com-
Bulldog
58
both trends in the food industry products Groupe Rocher to tackle the issue of ing mothers of the beauty industry, missioned an important piece of
Edgewell Personal and consumers considering a vegan ethics, supply chain transparency Helena Rubinstein, Elizabeth Ar- research with Mintel, a leading
Care Company
brand is ethical. and sustainability. But is this going den, Estée Lauder and Mary Kay, global market intelligence agen-
But Jane Cunningham, editor of It is the same for natural brands far enough? must have faced as women building cy. We look forward to sharing this
Kiehl’s 50
L’Oréal Group beauty website British Beauty Blog- which is why Charles Beardsall, Denise Leicester, founder of well- businesses in what was very much a in the coming months as I am pos-
ger, says we should be wary of this. managing director for Dr Hauschka, ness and beauty brand ila Spa, says man’s world. itive it will work as an invaluable
“One brand may be vegan and that’s feels that standardised certification being ethical is about attention to de- Words spoken by our dynamic tool for everybody involved in the
L’Oréal
L’Oréal Group
50 absolutely great; it doesn’t use ani- is so important. “We are 100 per cent tail at levels of the business. “When I chairwoman Vasiliki Petrou, ex- beauty industry.
mal products, but at the same time natural and a leading NATRUE cer- started ila Spa, I wanted to be trans- ecutive vice president of Unilever In the last 25 years CEW has
Avon
it’s absolutely full of chemicals. tified brand, which requires you to parent; having an organic certificate Prestige, in her opening speech, re- grown from a small circle of women
Avon Products
46 Consumers see vegan and assume it be at least 70 per cent natural. Hav- was not enough,” she says. ally resonated with me: “The next into a huge multi-faceted organisa-
must be something good.” ing the highest standards isn’t easy, “Our ethical bible goes to where two decades will be the decades of tion operating in New York, Paris
Clinique Ms Khanom agrees: “There isn’t but it’s up to all of us in the sector to we buy things from, whether we’re the woman.” and London, and dedicated to help-
The Estée Lauder 42 any regulation in the ethical beau- ensure consumers are happy with paying a fair price and what impact How different it is for women ing female (and male) professionals
Companies
ty industry because the defi nition what they’re purchasing,” he says. this is having on the lives of those working in beauty now. CEW’s pro- advance. We are well and truly on
Neutrogena is so diverse, from how a product is According to The Good Shopping in our supply chain. Ethical is not grammes and mentoring initiatives our way.
25
Johnson & Johnson made and where the ingredients are Guide, lack of proper regulation only the product, but how you treat enable both young and experienced
sourced to if the company has paid means a product can be called “nat- your staff and the environment beauty professionals to learn and CEWUK represents Cosmetic
The Good Shopping Guide’s Ethical Company Index, Ethical Company Organisation 2017 its taxes correctly. This all con- ural” even if it contains as little as they work in.” share to become more productive. Executive Women in the UK
14 THE BEAUTY ECONOMY 12 / 12 / 2017 RACONTEUR.NET RACONTEUR.NET 12 / 12 / 2017 THE BEAUTY ECONOMY 15

ETHICAL BEAUTY OPINION COLUMN

Savvy consumers can ca ll out unethical brands ‘Without

Misleading claims and confusion have the 1 per cent natural ingredients. “Big well-educated

Dia Dipasupil/Getty Images For NYFW: The Shows

cosmetics fi rms love to use the word
potential to damage beauty brands that
professionals, who
‘natural’ on their products, but
most skincare creams use synthetic
are not completely honest and transparent chemicals, some of which are po-

about their ethical credentials

continue to learn and
tentially toxic,” the guide says.
Kat Alexander, director of the
Ethical Company Organisation,

develop throughout
which publishes The Good Shopping
Guide’s Ethical Company Index,
says: “Our research relates to the re-

their careers,
cords of the companies behind the
She says: “It is the brands that tout brands. In some cases, apparently
EMILY SEARES their ethical status, but don’t deliver ethical brands score much lower

business does not

E
that are the worst. Millennials are than the public would expect be-
thical” is applied liberally in some of the most educated in the cause their ultimate holding compa-
today’s beauty industry, from ethical space, and are highly critical ny is involved in less ethical practic-

thrive and economies

vegan products to recycla- and vocal when brands don’t deliver es, often on behalf of other brands in
ble packaging, cruelty-free on what they promise.” their wider brand portfolios.”
to sustainable sourcing. A sliding Mintel’s Natural, Organic and Along with the issue of brands

scale of what’s considered ethical,
combined with a lack of regulation
and clever so-called green-washing
by some brands, has left many con-
sumers confused and misled.
Sue Daun, executive creative di-
rector at global brand consultancy
Interbrand, says the beauty indus-
try can be one of the worst when it
comes to truly ethical operations.
“Big brands are talking the talk, but
not consistently walking the walk,”
she says.
Ms Daun accuses Yves Saint Lau-
rent and Maybelline, owned by
L’Oréal, as among the worst cul-
Ethical Toiletries report confi rms
just this, with more than 60 per cent
of consumers saying they would
stop using a brand if they found it
to have “unethical practices”. But
difficulty comes in defi ning these
unethical practices. With almost
three quarters of those questioned
saying they found it hard to know
how ethical a brand truly is.
Protecting the environment, recy-
clable packaging and animal welfare
were all listed as top ethical issues
by consumers, while 43 per cent of
those surveyed said they would con-
sider a brand’s ethical stance before
global corporations making “ethical”
Cosmetics giant NARS found this
do not grow’
expanding into new international
markets, such as China, the matter
of brand equity is questioned when
a seemingly “ethical” company is
bought out by a not-so-ethical par-
ent company. Men’s skincare brand
Bulldog is a case in point. CAROLINE NEVILLE
Ms Alexander explains: “Bulldog President
did have Ethical Company Organisa- CEWUK
tion accreditation, but this year has
slipped down the rankings due to a In the UK, CEW has be- CEW champions two
brand buyout by Edgewell Personal come the most influ- key drivers of our
Care. Bulldog has a cruelty-free in- ential organisation vibrant economy
ternational certification, but its new promoting and de- – small and medi-
parent company tests on animals.” fi ning the British um-sized enter-
tributes to people not knowing if a In contrast, The Body Shop has beauty industry. prises (SMEs) and

50 Years’ Experience as a Global prits, following claims to abolish

Pioneer of 100% Certified
Natural and Organic Products
The Best Kept Natural Beauty Secret
Your skin inherently knows how to look after and
renew itself. Our products do not take over these tasks,
the use of microbeads in all cosmet-
ics, but apparently only eliminat-
ing them from exfoliants, washes
and shower gels.
SELECTED ETHICAL SKINCARE RANKINGS
The scores relate to the records of the enterprises behind the brands, so while specifi c brands may be more “ethical”,
their score may be brought down by their less ethical parent companies
TOP RATING MIDDLE RATING
buying for the first time.
Roshida Khanom, Mintel’s associ-
ate director for beauty and personal
care, says consumers are becoming
more and more sceptical about large,
BOTTOM RATING
tin le
promises. She explains: “If a brand
claims to stand for something, then
they need to stay true to this. And in
the age of social media, consumers
are quick to call them out.”
out the hard way. It faced a consum-
er backlash in the summer after
revoking its cruelty-free status to
enter the Chinese market. China
demands animal testing on all im-
ported cosmetics, which poses a big
dilemma for brands looking to ex-
pand internationally.
NARS customers were quick to
take to social media, calling for a
boycott of the make-up giant that
they claimed chased “profits over
principles”. Ethical beauty advo-
cate and influencer Kat Von D’s re-
brand is really ethical.”
Unlike the food industry, which
moved up the rankings after it was
sold to the more ethical parent com-
With more than
1,100 members and
education. With-
out well-educated
strictly polices the use of the word pany Natura Cosméticos S.A. With a board consisting professionals, who
“organic”, the beauty industry has
a voluntary certification process
ethical beauty including such a broad
spectrum of areas, offering consum-
of an unrivalled, pres-
tigious group of indus-
continue to learn and
develop throughout their
when it comes to ethical, natural or ers choice so they can make informed try leaders, CEW is the most careers, business does not
organic certified products. decisions is key, says Ms Alexander. qualified and experienced voice in thrive and economies do not grow.
Sarah Brown, founder of Pai Skin- Brands such as Neal’s Yard and UK beauty. By defi nition SMEs are business-
care, feels a lot of customers are Green People scored 100 per cent on In our 25th anniversary year in es with a turnover of less than
being misled and duped. “Brand the Ethical Company Index. “Both the UK, we can look back on our £25,000 and fewer than 250 em-
green-washing is a big issue. If con- brands are great examples of ethical achievements with pride. Our ployees. They represent 99 per cent
sumers are paying a premium for companies which started out with business breakfasts programme, of the UK private sector and prob-
a product, they need to know what a purpose to do things right. Their our ongoing engagement with ably 99 per cent of the CEW mem-
they think they’re buying, they ac- products are ethical – organic, natu- the government, now in its bership. Agile and successful SMEs

Pu ion al

sm rd

tio al

10 re
w ar

re l
r l

ifieally

fa a
po ta

ke sib

t ic

ita thic
el m

0)
n

ts

of co
en t

ic

er

sponse at the time that NARS had tually are,” she says. ral, without animal-cruelty – and the provide the innovation and creativ-

ci o
fourth year, and our two superb
po cle
re en

ria

iti c
od ic

na olit
an

en
w Ani

but support your skin’s natural processes, guiding

s
ar n

cr ic re
m et

Nu
m

ed E
ta

m po

ut x
am
rg

do P
“chosen a pay check over compas- companies behave in a responsible recognition platforms – CEW ity that drive the industry forward
on

(o de
ge
O

es

bl
vir

m
G

In
Ve

it to a state of balance. Dr. Hauschka products are

Irr

cr
sion” received almost 130,000 likes, manner,” Ms Alexander explains. Achiever Awards for top talent and make the UK a world leader in
Ar
En

formulated with unique, high-quality plant extracts
and natural ingredients from organic, biodynamic
and natural sources.
NATRUE Certified – A Guarantee That Products
Are As Natural And Organic As Can Be
Our products are free from synthetic fragrances, dyes
and preservatives, as well as mineral oil, silicones
and PEGs. We also do not test on animals and are
committed to socially-responsible business practices.
www.dr.hauschka.co.uk
www.NATRUE.org
facebook.com/drhauschka.uk @drhauschkagb
ac
ten times the number on NARS’ With beauty giants such as John- and CEW Beauty Awards, cele- beauty. SMEs also thrive through
original post. son & Johnson, Unilever, Estée Laud- brating excellence and creativity entrepreneurial spirit, commer-
Neal’s Yard Remedies
Neal’s Yard 100 But what constitutes ethical for
The beauty industry er Companies and the L’Oréal Group in product and innovation – are cial expertise and enterprise for
(Natural Remedies)
one consumer might be quite dif- dwindling below 50 per cent on the unrivalled and go from strength which the country is known, and
ferent for another. Data insights has a voluntary index, it comes as no surprise that to strength. which we will need as we approach
Lush
Lush Cosmetics Ltd
92 provider Hitwise has revealed that certification process big household names have clubbed While celebrating our anniversa- a post-Brexit world.
UK internet searches for “vegan together to form a new initiative. ry this November at The Dorches- To help further understand
when it comes to
L’Occitane
75
beauty” soared 820 per cent from
ethical, natural or
This new body, the Responsible ter in London and to honour this the scope and size of the beauty
L’Occitane January to November this year. Beauty Initiative, was launched in year’s Achiever Award winners, I industry and its importance to
International SA
This surging demand is driven by organic certified 2017 by Clarins, Coty, L’Oréal and reflected the challenges the found- the UK economy, CEW has com-
Bulldog
58
both trends in the food industry products Groupe Rocher to tackle the issue of ing mothers of the beauty industry, missioned an important piece of
Edgewell Personal and consumers considering a vegan ethics, supply chain transparency Helena Rubinstein, Elizabeth Ar- research with Mintel, a leading
Care Company
brand is ethical. and sustainability. But is this going den, Estée Lauder and Mary Kay, global market intelligence agen-
But Jane Cunningham, editor of It is the same for natural brands far enough? must have faced as women building cy. We look forward to sharing this
Kiehl’s 50
L’Oréal Group beauty website British Beauty Blog- which is why Charles Beardsall, Denise Leicester, founder of well- businesses in what was very much a in the coming months as I am pos-
ger, says we should be wary of this. managing director for Dr Hauschka, ness and beauty brand ila Spa, says man’s world. itive it will work as an invaluable
“One brand may be vegan and that’s feels that standardised certification being ethical is about attention to de- Words spoken by our dynamic tool for everybody involved in the
L’Oréal
L’Oréal Group
50 absolutely great; it doesn’t use ani- is so important. “We are 100 per cent tail at levels of the business. “When I chairwoman Vasiliki Petrou, ex- beauty industry.
mal products, but at the same time natural and a leading NATRUE cer- started ila Spa, I wanted to be trans- ecutive vice president of Unilever In the last 25 years CEW has
Avon
it’s absolutely full of chemicals. tified brand, which requires you to parent; having an organic certificate Prestige, in her opening speech, re- grown from a small circle of women
Avon Products
46 Consumers see vegan and assume it be at least 70 per cent natural. Hav- was not enough,” she says. ally resonated with me: “The next into a huge multi-faceted organisa-
must be something good.” ing the highest standards isn’t easy, “Our ethical bible goes to where two decades will be the decades of tion operating in New York, Paris
Clinique Ms Khanom agrees: “There isn’t but it’s up to all of us in the sector to we buy things from, whether we’re the woman.” and London, and dedicated to help-
The Estée Lauder 42 any regulation in the ethical beau- ensure consumers are happy with paying a fair price and what impact How different it is for women ing female (and male) professionals
Companies
ty industry because the defi nition what they’re purchasing,” he says. this is having on the lives of those working in beauty now. CEW’s pro- advance. We are well and truly on
Neutrogena is so diverse, from how a product is According to The Good Shopping in our supply chain. Ethical is not grammes and mentoring initiatives our way.
25
Johnson & Johnson made and where the ingredients are Guide, lack of proper regulation only the product, but how you treat enable both young and experienced
sourced to if the company has paid means a product can be called “nat- your staff and the environment beauty professionals to learn and CEWUK represents Cosmetic
The Good Shopping Guide’s Ethical Company Index, Ethical Company Organisation 2017 its taxes correctly. This all con- ural” even if it contains as little as they work in.” share to become more productive. Executive Women in the UK