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Forming Alliances For a Trade War
August 1 came and went. We still don’t have a clear understanding of tariffs and their implication for the global household and personal products industry. US President Donald J. Trump’s pledge to implement a baseline 10% tariff on all imported goods turned into an on-again, off-again affair. But the beauty industry isn’t waiting on The White House.
The new Value of Beauty trade alliance urged EU lawmakers to consider economic implications of a trade war. The VoB includes L’Oréal, Beiersdorf, Puig, Givaudan, IFF, Kiko Milano, Ancorotti Cosmetics, Albéa, DSM-Firmenich, Fiabilia, Patyka, Cosmetic Valley, Capau 1880, Verescence and Ziaja. VoB welcomes any and all members of the beauty value chain. As Benjamin Franklin reportedly said, ““We must all hang together, or most assuredly we will all hang separately.”
Kline & Company notes prolonged trade tensions and tariff impositions can lead to lasting changes in trade policies and market dynamics. Kline suggest companies adopt more resilient and flexible business models to navigate an increasingly uncertain global trade environment.
The potential imposition of tariffs on the beauty market underscores the interconnectedness of global trade and its impact on various industries. As the beauty sector continues to evolve, companies must remain vigilant and adaptable to navigate the challenges posed by tariffs, Kline concludes.
The International Top 30, our annual look at the household and personal products industry’s biggest players outside the US starts here. Nearly every company posted good results in 2024. But 2025 is off to a rocky start for many and most blame tariffs and the uncertainty surrounding them.
The International Top 30 got its start in 1991. It serves as a companion piece to The Top 50, Happi’s annual look at the leading US players in the global household and personal products industry. In all those years, Unilever topped the International Top 30 list. But L’Oréal is No. 1 this year. Proving that even in times of uncertainty, demand for beauty products remains strong.
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