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Euromonitor Identifies Elements Re-shaping the Beauty Landscape
Posted: May 1, 2012
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“We are drawing our inspiration from real life and real people while striving to understand what is relevant to them, their needs and habits,” said Simon Medley, senior vice president of BASF Personal Care Europe. “Our new brand, Care Creations, gives voice to this commitment and our business approach, while expressing clearly our strengths of science excellence and market empathy.”
According to Euromonitor, *the four key elements that successful brand owners are rethinking to succeed in a contrasted global market include driving sales with mergers and acquisitions, looking at new product positioning that takes an holistic approach to cater the needs of consumers, capitalizing on high-tech claims and exploring new retail concepts to combat an increasingly competitive retail environment.
“Companies will continue to build a flexible product portfolio to respond to differing consumer needs,” said Mohiuddin. “One objective will be to introduce products from emerging markets to western markets while driving growth in western markets through high-tech innovations and more sophisticated product offerings.”
Barbalova will present Reinventing Fragrances: New Global Strategies for Growth at the World Perfumery Congress, June 12-14, 2012. Euromonitor's annual State of the Industry report will be available from GCI, both online and in print, in June.