Since the beginning of the year, Business France has added a string to its bow and supports French companies specialized in beauty tech to conquer new markets. For the organization, this segment represents the future of cosmetics and is already successful worldwide. But for the time being, France is still a bit behind on the subject and is (too) shyly getting started.
If there is one thing that no one can deny, it is that French cosmetics shine everywhere. Its expertise makes people dream all over the world… and if it was not enough? The coronavirus crisis has highlighted the limits of physical distribution.
To “survive”, a brutal transition to digital solutions had to be initiated. Worse still, the pandemic exacerbated certain trends that were already prevalent, such as hyper-personalization and the need to try products before buying online.
Today, artificial intelligence is capable of providing concrete answers to consumers’ expectations. But it is clear that too few brands in France have decided to jump on the beauty tech bandwagon.
According to a report by Wavestone, a French consulting firm specializing in business transformation, France has 127 startups that are experts in beauty tech, compared to 97 in 2019. These companies are mostly located in the Paris region (75%) or in major cities like Lyon, Nantes, Grenoble and Toulouse (11%). These companies have various activities and also offer platforms for connecting consumers/professionals, innovative formulation based on biotechnology or artificial intelligence. The spectrum of beauty tech is thus very wide.
But what’s the problem? “France is too far behind compared to other markets …
