Comparative innovative business strategies of major players in cosmetic industry

Purpose – The cosmetic industry is a very lucrative, innovative, and fast paced industry where product innovation is the key to success. The purpose of this paper is to present a detailed analytical (qualitative) study of cosmetic industry in the global marketplace with a focus on the four market leaders in this industry relative to their business and innovation strategies.Design/methodology/approach – Business analyses include Strengths, Weaknesses, Opportunities and Threats (SWOT), Porter's value chain and five forces, and financial applied to the four industry leaders.Findings – Each of these cosmetic companies is unique. They each offer something different to the industry; selling method, marketing strategy, product line, and distribution channel.Practical implications – The industry trends indicate that the future of cosmetics may move towards more joint ventures between drug companies, cosmetic companies and nutritional/food companies as cosmetic companies look for new ways to be innovative.Original...