Camillo Pane, former CEO of Coty, discusses with Marco Rodzynek revolutionary consumer products in their fireside chat. Coty is a leading global beauty company, for example owning perfume brands. "Consumer look for new products and new experiences all the time", explains Pane. "But before the look, there are other things they notice: the most crucial part is the fragance. People want to buy the perfume they love to smell, that is the most important thing to them."
Customer experience is crucial, too. Many companies are getting more sophisticated, but compared to the fashion industry big players like amazon are not that dangerous in the beauty sector. "The big platforms are dominating", says Pane. "But many brands build their own platforms to stay in the market." Some brands even stay away from the platforms to be more exclusive - and even this can bring success in this special sector.