The Cosmetic Valley cluster and the city of Chartres will unveil French Beauty Tech, a national innovation network that will support beauty and digital startups. The goal: to invent the beauty of the future.
According to the organization, the beauty sector is ripe for disruption due to the rise of social media influencers, online sales platforms, low-cost product introductions and other factors. By focusing on technology, the Cosmetic Valley cluster seeks to capitalize on these elements to support the continued strength of the French cosmetics industry.
French Beauty Tech is expected to boost France's cosmetics industry, which boars a trade surplus of 11.8 billion euros and represents 1,500 businesses, 150,000 jobs and 25 billion euros in annual sales.
The initiative includes a focus on big data processing, connected objects (the internet of things), enhanced personalization and product experience, innovative applications, increased online sales of the French SME cosmetics market and accelerating startups via a Beauty 3.0 factory in Chartres.
The initiative will be unveilved by Marc-Antoine Jamet, president of the Cosmetic Valley and general secretary of the LVMH group, and Jean-Pierre Gorges, deputy mayor of Chartres and president of Chartres metropolis at the IO Factory in Paris.
French Beauty Tech is expected to boost France's cosmetics industry, which boars a trade surplus of 11.8 billion euros and represents 1,500 businesses, 150,000 jobs and 25 billion euros in annual sales.
The focus on startups is particularly relevant as the Cosmetic Valley comprises 850 companies, 80% of which are SMEs. The cluster acknowledges that France's continued global leadership in beauty "is not a give." Therefore, innovation is critical.
