BolognaFiere takes closer look at American beauty market with first 'New York Symposium'
NEW YORK — Cosmopack, a trade fair for the beauty industry’s production chain and part of Cosmoprof Worldwide Bologna, made its New York City debut on Monday at the Trump Soho Hotel as international beauty players analyze the potential for growth in the American market.
The two-day event, dubbed the “Cosmopack New York Symposium,” is a networking and training workshop involving 50 International companies.
“We felt the need to organize this symposium because we strongly believe in the development of the American market for Italian and European firms manufacturing and supply the most advanced technological and creative solutions within the beauty industry for some of the biggest companies worldwide, including a large number of American businesses,” stated Duccio Campagnoli, president of BolognaFiere.
Campagnoli noted that BolognaFiere already has a foothold in the American market with Cosmoprof North America, which it organizes in partnership with the Professional Beauty Association.
“The U.S. market is the third largest in the world after Brazil and China and we think it is important to create a platform for the East Coast, where the biggest American businesses in the sector manufacturer their products,” Campagnoli stated.
One highlight from Monday’s agenda included a panel discussion, called “View From the Top: The Recipe For Success,” which brought together top executives representing five different beauty companies to discuss the role of new unique packaging, formula or delivery systems in the overall strategy and success of a brand.
Panelists included:
Robb Akridge, SVP and global GM of Clarisonic
Elana Drell Szyfer, CEO of Laura Geller Beauty
Jane Iredale, president of Iredale Cosmetics
Anastasia Soare, CEO and founder of Anastasia Beverly Hills
Kyan Feyzgiu, GM of Gotha Cosmetics
When asked to share key points on achieving success within the industry, Szyfer said, “[Laura Geller] found a product, a technology of baked powder, foundation, color correcting that didn’t look like anything else out there. She understood what it did for her clients and she was going to tell that story on TV and anywhere that she could. I think the message and the lesson is that sometimes things that are very new and very differentiated really can break apart and then set a course for an entire industry.”
Added Iredale, “We are 20 years old this year. We started with a company of one. I think what got us through, and believe me when I tell you that no one was buying our products in the beginning because of the packaging because it looked terrible, but I had a strong, strong belief in what was inside the packaging. That authenticity created a message around the brand that really connected with the consumer. … That would be my message is that authenticity trumps almost everything.”
Wrapping up the discussion, panelists were asked to impart one piece of wisdom to which Feyzgiu said, “I would definitely say to globalize more. Italy has a big problem in opening up to foreign employees. They like Italian employees. … So open your doors to foreign employees as they will bring a lot of assets. They will help you enter the U.S. market. … Second, lower the average age by betting on talent. Give the younger people a chance.”