What I’m Looking Forward to at The Business of Beauty Global Forum 2024

Hi, this is Priya Rao. Welcome to my weekly column, where I will also share the must-read stories from our ever-expanding, global beauty and wellness coverage. Sign up to The Business of Beauty newsletter to get the full briefing each Friday.

Planning and hosting our inaugural The Business of Beauty Global Forum last year was one of the highlights of my time at The Business of Fashion and one that our readers across the globe continue to talk to me about. So, I’m thrilled to be bringing this event back for year two. On Monday and Tuesday, we will head to Stanly Ranch in Napa Valley, California, to challenge the conventional ideals and norms of beauty and wellness in a way only BoF can do.

Last year, our intention was to break the mould and create a new space for fresh, global voices to come together. In our second iteration, our goal is to build on that success with individuals from all corners of the beauty and wellness landscape. Perhaps nowhere is that better reflected than in our first content session: Our Place in Culture.

So often, Gen-Z is spoken about as a monolith by their elders, instead of hearing them in their own words. We wanted to change that. We’re excited to have 18-year-old Katie Fang and 24-year-old Steph Hui, two of the most exciting young influencers, share their thoughts on inclusivity, the power of social media and most importantly, their boundary-shifting generation.

Later, we will hear from trans actress, comic and content creator Dylan Mulvaney on the need for the beauty industry to serve all its customers and the importance of standing up against bigotry and adversity.

Our conversations will also extend across the world as speakers from Asia, like Shiseido’s Angelica Munson and Laneige’s Yoon Sung Choi, will share their thoughts on product innovation and the need for agility in an interconnected beauty world. Dr. Joyce Gikunda of Linton’s Beauty Retail, investor Laureen Kouassi-Olsson and Suki Suki Naturals’ Linda Gieskes-Mwamba will also join us to talk about the untapped African beauty opportunity.

Serving the customer at every touch point is something we dive deep into in our second content session: Inside the Industry. There, Brian Bordainick of Starface World Inc. and The Inkey List’s Colette Laxton will talk about how disruptor brands have changed the mass beauty experience. We’ll also hear from Heela Yang of Sol de Janeiro and Amouage’s Renaud Salmon on the boom of fragrance, with high-end and masstige brands benefiting from younger shoppers and TikTok. And as young, independent labels continue to challenge legacy conglomerates and their heritage lines, Sephora’s Priya Venkatesh and makeup artist Danessa Myricks will discuss just what it takes to build a forever brand today.

We’ll also hear from another guard of experts, who are enabling us to consider a different definition of beauty, in our final content session: Beauty From the Inside Out. There, breathwork leader and Open founder Manoj Dias, TCM practitioner Sandra Lanshin Chiu and racial equity advisor Michelle Cassandra Johnson will discuss the existing gap in wellness, while Alejandro Bataller of SHA Wellness and AB Living Group will share his thoughts on the difference between “lifespan” and “healthspan.” Finally, the iconic Deepak Chopra will unpack the ongoing fascination around longevity.

I hope you can join us via the global livestream. Sign up here to reserve your space. Full access to The Business of Beauty Global Forum livestream is exclusive to BoF Professional All-Access and BoF Professional Beauty & Wellness members.

Priya Rao, Executive Editor, The Business of Beauty

Here are my top picks from our insight and analysis on beauty and wellness:

1. Case Study | Building an Effective Loyalty Programme

Serving as the ‘heartbeat’ for brands and retailers that deploy them with the right rewards, loyalty programmes incentivise repeat purchases, boost customer lifetime value and provide businesses with invaluable data for personalised marketing. But brands need to balance costs and benefits while creating a programme that supports their goals, maintains brand equity and keeps users engaged.

Read the case study here.

2. How to Make Beauty Merch That Matters

Beauty is in the midst of “merch” madness, with brands rushing to debut branded sweatshirts, stickers and more in hopes of securing viral hits like Rhode’s lipgloss phone case. But as more brands focus on merch, making products that stand out takes a sharper strategy.

Read the full article here.

3. Why Australia Is the Next Step in Glossier’s Global Ambitions

After expanding to US and UK brick-and-mortar retail, the former DTC darling will be available in 70 Mecca stores beginning July 16.

Read the full article here.

The Business of Beauty News in Brief:

1. L’Oréal and Estée Lauder perfumes linked to child labour, according BBC Eye investigation. Children as young as five work picking jasmine throughout the night, and earn on average as little as $1 a day. The report blamed the issues on poor due diligence practices and pricing pressure from top companies.
2. Venture studio Squared Circles secures $40 million in series A fundraising round. The funding round was led by L Catterton. With the funding, the company plans to launch and scale at least five additional brands in the next three years.
3. Indie beauty brand Fara Homidi launches in Sephora. Starting June 1, consumers will be able to shop the brand on the retailer’s e-commerce channel with a brick-and-mortar entrance slated for next year. The company is projected to grow its sales at a rate of 400 percent in this year and expects to reach $15 million in sales in 2025.

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