Beauty business leaders unite to ask EU to guarantee competitiveness

The Value of Beauty Alliance, which is made up of the leaders of some of Europe’s biggest beauty and personal care businesses, discussed the impact of EU policies and regulations on the industry’s global competitiveness and sustainability goals.

The Value of Beauty Alliance itself was launched in January 2024 to ensure the entire value chain is taken into consideration by European policymakers. It consists of the CEOs of, Albéa Group, Ancorotti Cosmetics, Beiersdorf, Capua 1880, Cosmetic Valley, dsm-firmenich, FIABILA, Givaudan, IFF, IFRA, KIKO Milano , L’Oréal Groupe, PATYKA, Puig, Verescence, and Ziaja.

The Alliance has called for “collaborative policymaking that recognises the industry’s unique characteristics, challenges, and significant contributions to the EU economy.”

Addressing the new UWWTD rules

One issue that the Alliance has asked the EU to urgently review is the recently adopted legislation on the treatment of urban wastewater to ensure that all sectors contributing to micro-pollutants in water are held responsible.

The CEOs have also asked the EU to prioritise the following:

• The REACH Regulations and Cosmetic Product Regulation revisions: to focus on consumer safety and environmental protection based on a robust risk assessment and real-world ingredient use, while maintaining high scientific standards.
• Trade agreements to prioritise market access, reduce regulatory barriers, and support the export of high-quality European products. Strengthen customs checks and rigorously enforce environmental and sustainability requirements for imported products, both online and offline.
• Implement policies that support sustainable ingredient manufacturing, address the “green premium” for sustainable technologies, and secure a reliable long-term supply of sustainable feedstock.
• Partner with the industry to develop targeted training programs and investment instruments for upskilling the workforce and meeting the evolving needs of the sector.

The Value of Beauty Alliance said it “remains committed to working closely with EU institutions to develop policies that foster innovation, create jobs, and secure the continued global competitiveness of the European beauty and personal care industry.”

The impact of beauty on the European economy

In Brussels, the Alliance also unveiled a new report conducted by Oxford Economics, which outlined the significant socio-economic impact of the Beauty & Personal Care value chain.

The report revealed that in 2023, the industry:

• Contributed €180bn to the EU’s gross domestic product.
• Supported nearly 3.2 million jobs across Europe (said to be the equivalent of the entire workforce of Bulgaria).
• Generated €71bn in tax receipts.
• Invested €2bn in R&D, which drives sustainability and innovation.

It also highlighted that the EU beauty and personal industry continues to grow and lead on the global stage, with five of the world’s seven largest beauty companies currently headquartered in the EU.