North America

Lessons Learned in 2020: Finance

Lessons Learned in 2020: Finance

WHAT HAPPENED?
M&A activity has been ripe for some time. An upsurge of private investors, the lure of digitally advanced brands perfectly appealing to an online-obsessed audience, and attractive prices has maintained the momentum for years. And 2019 was no exception. However, the glory days were cut short at the beginning of 2020, with COVID-19 forcing companies to put an immediate hold on purchases in favour of looking inwards and stabilising their own brands amidst a flurry of store closures and a drastic fall in sales.

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Lessons learned in 2020 – Corporate structure

Lessons learned in 2020 – Corporate structure

As 2019 was drawing to a close, it couldn’t have been clearer that virtually all of the sales growth the beauty industry was enjoying was located in one place: Asia. Why then, did companies fail to react as it became increasingly clear that a novel virus was circulating and that China would have to lockdown? The reason? The beauty industry’s corporate structure was stuck in the 20th century. Agile it was not. Local, it was not. Diverse, it was not.

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