Weekly Newsletter - 31.05.2024

Estée Lauder and Microsoft's Beauty Alliance and Tiktok's SMB Beauty Playbook

Author

Priscilla Soedarpo
May 31, 2024 • Estimated Reading Time: 3 minutes

THE LATEST IN BEAUTY AND COSMETICS

L'Oréal leads Brand Finance's Annual Cosmetics 50 2024 as the most valuable brand, excelling in sustainability. Garnier grows rapidly, while Natura remains the strongest brand. The report showcases industry trends and brand strategies.

Estée Lauder is partnering with Microsoft to leverage generative AI for rapid product development, personalised customer experiences, and efficient marketing across brands like MAC and Clinique. They are also creating an internal chatbot to utilise customer data and respond to beauty trends.

Small to Medium Sized Beauty Business Guide
TikTok's SMB Beauty Playbook: A Guide for Brands

TikTok's new SMB Beauty Playbook offers beauty brands a 27-page guide on leveraging the platform. It includes trend insights, content creation tips, and posting frequency recommendations to maximise engagement and audience reach.

Beauty Partnership: Urban Decay x LA Sparks
Urban Decay Reinforces WNBA's LA Sparks Partnership

Urban Decay continues its beauty partnership with the LA Sparks, promoting women's empowerment and inclusivity. The brand enhances game-day experiences with makeup services, social content, and interactive booths, while aiming to double its social audience.

Artificial Intelligence in the Beauty Industry
Clarins Introduces Clara, an AI-Powered Customer Care Bot

Clarins unveils Clara, an AI customer care bot using Microsoft Azure OpenAI Service. It provides instant responses, optimises agent availability, and is set for global implementation after current testing.

Jet-Puffed partners with Taste Beauty, launching a marshmallow-themed beauty line. The collection includes spa accessories, available at major retailers, reflecting a trend in food-inspired beauty products with playful, retro packaging.

MakeUp in Paris 2024 focuses on innovation and sustainability, with 150 exhibitors like B. Kolormakeup and Geka. It features new products, the IT Awards, and expert talks on beauty trends and eco-responsibility.

The U.S. beauty industry reports a 9% increase in Q1 sales, with skincare and fragrances leading. Makeup lags but shows promise in lip products. New launches and Gen Alpha's influence drive market dynamics, despite a general slowdown.