If the “Made in France” label is fading, two major groups in the beauty industry have found a solution. To increase the global leadership of the French perfumery-cosmetics industry, the Competitiveness Cluster for Perfumes, Aromas, Scents, and Flavors, and Cosmetic Valley have signed a partnership agreement.
The strengthening of ties between suppliers of ingredients (the Cluster) and manufacturers of finished cosmetic products (Cosmetic Valley) should guarantee success for the launch of innovative products that are safe for humans and the environment.
To make this partnership successful, the two companies have created an action plan aimed at identifying common collaboration axes and synergies, facilitating work among the members of both clusters, and mutually promoting the two groups. These four steps could be the source of their economic development.
To conclude this agreement, a research and development center, as well as a high-level team, might be set up in the town of Grasse.
Presentation of the two companies
The Competitiveness Cluster for Perfumes, Aroma, Scents, and Flavors represents the foremost concentration of global leading companies in the production of ingredients for aromas and perfumes. It is located across the Provence Alpes Côte d’Azur region and Drôme Provençale with 550 companies.
On the other hand, Cosmetic Valley is the leading global resource center for the perfume-cosmetics industry. Located in the Centre, Île-de-France, and Haute Normandy regions, it generates about 8 billion euros in revenue.
This collaboration seems promising, but it will not go beyond that, as a merger is not on the agenda for the leaders of the two Clusters. In times of crisis, this partnership is another means of economic recovery that has yet to prove itself.
