Cosmetics Europe expects industry to ride out recession

By Andrew McDougall

- Last updated on GMT

Related tags Cosmetics europe Cosmetics Economics

Cosmetics Europe expects industry to ride out recession
In the last of our exclusive reports from personal care association Cosmetics Europe, president Fabio Franchina and general director Bertil Heerink told us that despite a difficult economy there is still a glimmer of hope for the industry.

“We are expecting that, even if 2012 is not a top performer in terms of economics or finances it will still be an effective year for industry,”​ Franchina told

“This business is undoubtedly one of the most innovative business and we will have to react to the new changes we are facing in the economy and in the spending habits of the consumer. It will be interesting to see how companies react,”​ he added.

Consumers have not abandoned cosmetics

Heerink echoed this and stated that the economy remains a challenge. “No company will look at it and say they will do nothing. The competition is huge on a global scale.”

The good news, according the general director, is that despite the economic crisis and the undoubted difficulties for companies to remain in the driving seat, consumers continue to appreciate cosmetic products, whether it is mass market or luxury goods.

“Across the board we cannot say consumers have abandoned our industry and our products – it is not the case. And this is a very strong story and underlines how appreciated cosmetics are in daily life, despite the crisis,”​ he said.

“Having said so, that is not a reason to be complacent. Many companies have suffered and face problems of economies of scale and this has to be addressed.”

What next for Cosmetics Europe?

Cosmetics Europe celebrates its 50th​ anniversary this year, and the association is keen to use this time to look forward.

Having launched a new name, logo and company headquarters in Brussels, the organisation will also look to concentrate on the central themes of the cosmetics industry this year.

“We will connect with the agenda of 2012 and beyond. We will connect with the society’s demand to express ourselves more clearly on the themes of sustainable development,”​ explained Heerink.

“We also have our strategic business forum in June (14th​) which brings together business leaders all over the world to share the opportunities for the industry globally.”

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