French industry cluster Cosmetic Valley is initiating an action plan designed to help the perfume and cosmetics sector face the challenges of a post-coronavirus economy.
“Responsibility, agility, solidarity and innovation will be the watch words of a recovery which promises to be super-competitive, particularly with our Asian counterparts," warns Christophe Masson, CEO of Cosmetic Valley.
Organized in partnership with French cosmetics federation Febea, the French government and the European Commission, among others, the Etats généraux de la filière is also meant to initiate a rethink on the future of the industry as it faces a profoundly changed landscape.
Indeed, the coronavirus pandemic has hit small companies hard (very small, small- and medium-sized players account for 85% of the industrial fabric of the fragrance and cosmetics sector in France), resulting in an unprecedented crisis for the industry’s economy. It is hoped that lessons learned from the crisis can be used to reexamine models and practices. Environmental impact, product safety, CSR, sustainable development and shorter distribution and production circuits will need to be better taken into account, says Cosmetic Valley, giving the industry an opportunity to consolidate its "made in France" capabilities.
The initiative is organized around three main stages. The first of these will see issues and proposals collected from industry players during the month of June, with online participation open to manufacturers, entrepreneurs, academics and researchers. From July 1 to September 30, thematic workshops to build a recovery plan will be held, and on October 14th, a two-day event bringing together industry executives and public and private players will take place at the Carrousel de Louvre in Paris. A recovery plan will be presented on October 15.
More details on the packaging aspect of the initiative and on the thematic workshops will be unveiled in June.