THE WHAT? Beiersdorf CEO Vincent Warnery has warned that increasingly stringent EU regulation could undermine the global competitiveness of Europe’s cosmetics industry and put manufacturers at a disadvantage to international rivals.
THE DETAILS Warnery argued that cosmetics companies in markets including the US, China and South Korea face fewer regulatory burdens than their European counterparts, while European skincare products already operate under some of the world’s toughest quality standards. He questioned requirements to remove certain ingredients that he said pose no risk under normal conditions of use and criticised planned changes to EU urban wastewater treatment rules, which would require cosmetics and pharmaceutical companies to contribute towards pollution treatment costs. Warnery said companies such as Beiersdorf could face substantial costs despite accounting for only a small proportion of the pollution.
THE WHY? The comments highlight growing industry concern over the cumulative cost of EU regulation and its potential impact on innovation, investment and the ability of European cosmetics manufacturers to compete globally.
Source: The Brussels Times
