The dark side of cosmetics
If it appears to be a steal, it probably is. GC speaks to industry experts and heavyweight lawyers within the world’s most popular cosmetic brands about the challenges of dealing with the global proliferation of counterfeit cosmetics.
With the cosmetic beauty industry valued at US$532bn worldwide (according to a 2019 report by retail researcher Edited), the beauty industry is growing at a rate far greater than ever before. It’s no surprise that this industry offers gargantuan profits for businesses all around the globe. But, as the general sale of personal beauty products has increased and continues to increase year by year, the same can be said about replicated counterfeit cosmetics – now a considerable industry in itself.
Aside from the obvious health risks that counterfeit cosmetics pose to consumers, fake makeup also represents considerable legal risks – especially in the new age of e-commerce – for cosmetic brand manufacturers, merchandisers, and retailers alike. To that end, the in-house legal teams in this industry are of paramount importance.
