In this discussion, Vincenzo Carrara, a beauty industry veteran with experience in various roles, shares his expertise on the significant changes and trends over the past decade. Vincent elaborates on his extensive career in beauty and the foundation of his advisory firm, which works with various stakeholders in the industry, including brand development and strategy. Key points include the growing fragmentation and diversification of the beauty industry, the influence of social media and contract manufacturers on new brands, and the evolving roles of direct-to-consumer channels and brick-and-mortar retail. He highlights the increasing importance of nutraceuticals, neurocosmetics, and the merging lines between beauty, fashion, and wellness. Trends like hyper-personalization, AI integration, and sustainability are explored as future driving forces. The conversation also touches on the roles of celebrities and influencers in the industry, particularly their expanding influence across various beauty categories. Lastly, Carrara advises aspiring beauty entrepreneurs on market research, value chain understanding, and financial planning.

00:00 Introduction and Guest Welcome

02:03 Vincenzo's Career Journey

04:14 Shifts in the Beauty Industry

06:48 Emerging Trends and Challenges

13:09 Direct-to-Consumer Strategies

20:13 Blurring Industry Boundaries

31:40 Role of Technology and AI

40:00 Future Outlook and Advice for Entrepreneurs

Get full access to Growth, Brands and More at www.filibertoamati.com/subscribe