Coty Inc. expanding its capabilities in the field of sustainable development through a new platform called Beauty that Lasts (“Beauty that lasts a long time”).
This platform is part of the social, ethical and environmental strategy development company Turnaround Plan, consisting in turn of three main areas – Beauty of our People, of our Beauty Products and the Beauty of our Planet (“the Beauty of our people”, “the Beauty of our products” and “the Beauty of our planet”).
With the new platform, Coty, which owns such brands as Covergirl, Rimmel London and Max Factor, will work on several objectives in the implementation plan of the aforementioned strategy. For example, the company has made a commitment to improve responsible sourcing and transparency in their supply chains by 2022. The company plans to incorporate recycled, recyclable or reusable, and compostable material in 100% of its packaging for new products by 2025. It also wants to reduce absolute carbon emissions by 30% from baseline, 2017 to 2030, focus on the diversity of its staff and reduce the gap in pay.
“We want our business was ready to compete in a circular, zero-waste, economy, and benefit from a more inclusive society, – said General Director of Coty Pierre Laube. We see tremendous interest and momentum with our partners, consumers and clients in these areas. We believe that by Reaffirming the goals, we will inspire action; and these goals will allow us together with colleagues to have a significant impact on the industry”.
It is worth noting that recently beauty conglomerates, more and more attention has been paid to sustainable development. For example, the brand Dove, owned by Unilever, recently announced plans to reduce the use of primary plastics by more than 20 500 tons per year. Meanwhile, L’occitane has teamed up with an innovative manufacturer of environmentally friendly plastics Industries Loop to 2022 to implement environmentally-friendly plastic PET Loop in the packaging of their products.