Lauder, L’Oréal, P&G Executives Look Ahead to Beauty’s Next 20 Years
“Consumers will continue to become more knowledgeable, more demanding, and quality will be what sets the companies and brands of the future apart. This includes quality products that generate consumer loyalty and repeat purchase; quality high-touch services that combine education and customization to deliver tailored, highly desirable experiences, and most importantly, quality leaders who are people-centric and see the human beings behind their consumers, employees, partners and shareholders.” — Fabrizio Freda, president and chief executive officer, The Estée Lauder Cos.
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“The biggest change we must see in the Beauty industry — an imperative, in fact — is category transformation as we collectively invent more sustainable solutions that still deliver outstanding performance. We simply don’t have a choice given the clear call to action from consumers, NGOs, the scientific community and nature itself. I am optimistic that together, we can innovate to answer this call — to be a positive force for beauty in the world. Watch this space.” — Alex Keith, global CEO, P&G Beauty
“The retail and beauty landscapes are constantly evolving but one shift we anticipate — and are excited to lead — is continued innovation at the intersection of physical and digital shopping experiences. At Ulta Beauty, human connection is at the heart of everything we do for our guests. We know consumer expectations for connected in-store and online expectations are here to stay. As shopping habits evolve and physical and digital touchpoints continue to collide, we expect greater innovation, greater opportunity for more connections. The experiences we’ve created deliver on what guests crave today but we are most excited when we discover new ways to meaningfully and seamlessly connect across channels in the future.” — Dave Kimbell, CEO, Ulta Beauty
“A beauty industry that looks as diverse as the clients it serves, both in the cultures it celebrates and the C-Suite. From the outside, the beauty industry presents itself as more diverse than it did two decades ago, but behind the scenes we still have a ways to go. WWD Beauty Inc opened my eyes when it reported the statistic from March 2021 that of the top 15 manufacturers, there were only 3 female CEO’s and none were women of color. This cannot stand.” – Vicky Tsai, founder and CEO, Tatcha.
“It’s almost impossible to predict the future with everything so in flux. The biggest thing that is going to happen is that the industry will redefine itself to have nimble and flexible organization in a world that is changing faster than we can predict. We just don’t know what’s going to happen and that’s what gives us a unique challenge as we all have to create structures that allow us to pivot quickly to respond to an ever-changing world in ways that are unprecedented.” — Sharon Chuter, founder, Uoma Beauty and Pull Up For Change
“Working from home, living with less and accepting things as they are, including the way we look, are pandemic trends that have become part of our permanent futures. Over-the-top no longer flies. Being real is what resonates and that’s a healthy change that is here to stay. “
— Bobbi Brown, makeup artist and founder, Jones Road Beauty
For more from WWD.com, see:
Estée Lauder @ 75: The Lauder Family: Kindred Spirits
Alex Keith on Driving Growth in P&G’s Beauty Business
EXCLUSIVE: Drunk Elephant Goes Wide With Ulta Beauty
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