Companies need to rethink how they implement sustainability initiatives and should integrate them it into the ‘heart’ of their business models, a panel of experts at the Global Fragrance Summit organised by the International Fragrance Association (IFRA) has claimed.
Bérangère Magarinos-Ruchat, global head of sustainability at Firmenich, emphasised that sustainability is about an
“end-to-end approach to responsible business”.
“It s not just about climate change, it s not just about the environment in the way that people would think a few years ago. [Sustainability] in every sense also means sustainability on social impacts… It s also everything around, legal compliance, ethics, how you re running your business. It really goes from making sure you don t do anything wrong, all the way to benefiting from innovation, and growing business for good.”
An increasing emphasis on environmental issues will have a profound effect on the Asia Pacific cosmetics industry, said regulations experts, with the impact of policy changes in Europe likely to filter down to the region.
Brand story: Recent developments from the biggest names in beauty across APAC We round-up of our most-read brand-related stories of the region, featuring Shiseido, Procter & Gamble, Kao, POND’S and Dermalogica.
1 – Skin beauty revival: Shiseido outlines plans for key brands as it seeks to recover from COVID-19 slump
Japanese cosmetics giant Shiseido Company has highlighted its plans for its key brands like SHISEIDO and ELIXIR as focuses on building a powerful portfolio centred on skin beauty.
Shiseido posted its financial results for 2020 on February 9, where it also revealed its strategy to usher the brand towards a full recovery.
Among the many changes in the global beauty market post-COVID-19, Shiseido expects to see an increased awareness of skin health, creating multiple opportunities for the company.
These demands have heightened in the wake of the ongoing COVID-19 pandemic and digital boom where beauty information is so readily available from various sources (Getty Images) Beauty consumers worldwide are demanding open and honest brand communication on product formulations and ingredients in a digital world strained by unreliable and biased information, says the deputy CEO of L’Oréal.
Social media had, for some time now, been flagged as a source of concern in the beauty world because of the potential fast spread of misinformation. And a study conducted last year concluded brands had limited control over communications within their networks.