The ongoing coronavirus (COVID-19) pandemic has changed the face of beauty business as we know it, and a dig into the financials shows some majors and categories have weathered the storm better than others.
Personal care giant Beiersdorf and speciality chemicals supplier Evonik have teamed up on a federally funded research project in Germany looking to use carbon dioxide as a source for producing sustainable raw materials for beauty products.
International skin care major Beiersdorf has reported a sales dip for the first quarter of 2020 amid the ongoing coronavirus (COVID-19) pandemic, with European business and the La Prairie brand especially hard-hit.
Traditionally cosmetics companies have adopted a ‘not invented here’ attitude, but big benefits can be gained from changing to a ‘proudly found elsewhere’ mindset and being open with external partners, says Beiersdorf’s head of research and development.
Market analyst Euromonitor believes that if Procter and Gamble and Beiersdorf were to strike a deal it would benefit both parties as the former’s skin care would receive a boost, and the latter would become more competitive.
Nivea skin care maker Beiersdorf reported an increase in profits for full year 2012 with all of its core brands showing strong growth, and will continue to focus on success in the emerging markets going forward.