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What is the Deeper Meaning of Beauty?

This question is one of the most basic, albeit, meaningful ones that humanity has asked from the beginning of time, one that has inspired the greatest artists, sculptors, poets, writers, playwrights and romantics the world over.

Beauty is happiness. It’s the images and moments that inspire and represent the most distinct and remarkable attractiveness of our souls. It’s the moments we feel free and real. It’s the moments we feel proud and eminent. It’s the moments we feel alive. It seems like that element should be inherent, but it isn’t (or so says Google).

I choose to subscribe to this definition of beauty rather than all of the definitions which relate beauty to women! Beauty is internal, not just external. Beauty is when people help their fellow man. Beauty is color, seasonal changes, sights, sounds and experiences. In our world of fashion, we are surrounded by the beauty of creations by craftspeople from raw materials to works of art and beauty and sold through with minimal markdowns.

Beauty is being able to re-imagine and re-invent oneself or one’s business. Two years ago, many found themselves in a less than beautiful place in regards to their businesses. Previous models and strategic plans which had applied to the world pre-pandemic no longer seemed cutting edge or sustainable for the new direction of technology and consumer behavior.

Mergers and acquisitions became a beautiful pathway for creating and/or bolstering one’s business. The search was on to find a company or product which could enhance, complement and position your company or brand for the new trends and new consumers; there was beauty in integrating a startup product or obtaining an infusion of capital for advancements, allowing for the acquisition of talent by the merging of companies.

As the world comes back to in-person events, the glaring successes in our business world are the relationships we have forged over many years, which have been built upon credibility, honesty and friendship. Networking still thrives, which is proof that one’s reputation and, yes, beauty, has helped many people succeed in the past two years; people want to do business with those that they like and trust.

The Beauty World Today

What seemed to last forever was the staying power of the household names and heritage brands in the beauty sector, who overtime elevated their marketing, packaging and elegance of their products to position them as aspirational. What a shock it must have been to these companies to watch startups with minimal packaging and limited ingredients rise in popular culture. For example, social media has singlehandedly breathed new life into new and holistic brands which, in many cases, are at a lower price point than those heritage brands.

Much of the mergers and acquisitions (M&A) action in the last few years has been led by U.S. and European conglomerates, such as Estée Lauder and L’Oréal, hoping to bring innovative startups in-house. Brands can either spend $10 million to maybe screw up or spend $20 million to buy something that has an established proof of concept.

Today, it’s chic to say one uses “xyz cream,” which is considerate of sustainability, has no animal testing and uses pure ingredients at a comparable or lower price to more high-end brands. These brands are putting a new spin on defining quality and luxury.

Beauty’s busy year of mergers and acquisitions culminated when Kylie Jenner sold 50% of her Kylie Cosmetics empire to Coty for $600 million. The same day, Estée Lauder Companies acquired full control of Have & Be Co., the Seoul-based skincare company behind Dr. Jart+ and men’s grooming brand Do The Right Thing.

Sustainability is no longer a trend. It’s a fact of life and a spiritual concern of the young consumer. For example, Japanese beauty juggernaut Shiseido bought buzzy U.S. skincare brand Drunk Elephant for $845 million, instantly boosting relevance for the struggling heritage company.

Could the fueling of competition among brands end up depleting the value of major beauty companies in the long run? Probably not. We have all seen the development of big marque brands (or perhaps what has been considered to be a big marque brand in the past) which are no longer quite as marque as they once were. We seem to survive and adapt when our favorite shade of a product has been discontinued at brick and mortar — these instances are pushing consumers to the internet to buy the specific items, and are also introducing customers to new and bold replacements.

Innovation is what companies strive for, and consumers — who are hungry for the fresh and new — will determine if a brand’s product will be embraced. Having longevity and familiarity with brands brings comfort and may even transport buyers to fond memories involving these brands. At the end of the day, beauty has a way of bringing you back and making one smile.

So for now, I may not be using my La Mer cream, but Rodial has a new, loyal customer.

As president of footwear for Informa Markets, Leslie Gallin developed the FN Platform, the footwear shows at Magic. Gallin scouts the world’s best new designers and trends, providing unparalleled business insights and access into the world of footwear and beyond. Gallin is a board member of Footwear Distributors/Representatives of America, American Apparel and Footwear Associate, Two Ten-Footwear Charity and From Fashion with Love.org, among others, and has held positions at World Shoe Association, Geoffrey Benne, Escada, Louis Feraud and Pauline Tigere. She has been featured in Footwear Plus, Footwear News, O The Oprah Magazine, Vegas, Fox’s Good Day LA, Extra TV and more. missfashion@cs.com

Leslie Gallin
LKG Consulting
missfashion@cs.com