FMCG giant Unilever has launched a new initiative entitled Positive Beauty Growth Platform, which will see the company partner with scale-ups and startups to drive innovation and brand growth.
The new initiative reflects Unilever’s Positive Beauty vision for a new era of beauty that is equitable and inclusive, as well as sustainable for the planet, the company noted.
Positive Beauty is also helping to drive a transformation in how products are designed and marketed by using Unilever’s world-class science, technology programmes and innovation partnerships. It aims to do more good for both people and the planet, deliver a superior product experience, and tap into consumer trends.
Positive Beauty Growth Platform
The Positive Beauty Growth Platform is led by Unilever’s beauty and personal care division, home to global brands such as Dove, AXE and Love Beauty & Planet, and The Unilever Foundry, the company’s collaborative innovation network.
The Foundry has piloted over 400 startup projects to date, including collaborations with AI-powered skincare engine HelloAva and cleaning services marketplace Helpling.
Sunny Jain, president of the beauty and personal care division at Unilever, said, “Collaboration in the mega-trends of the future is a strategic imperative for Unilever. Building a thriving two-way relationship with the global startup community helps power innovation and experimentation, deliver business solutions and fuel growth.
“The Positive Beauty Growth Platform has been designed to do just that. By harnessing startups’ disruptive approach, we will help future-proof our brands by pioneering into new spaces shaping the beauty industry.”
The Positive Beauty Growth Platform aims to collaborate with scale-ups and startups on projects at the forefront of innovation and technology in the beauty industry through a series of pitch competitions and entrepreneurial challenges.
At present, Unilever is reaching out to scale-ups and startups operating in the fast-growing and evolving world of social commerce, which integrates social media and e-commerce, using social platforms, to sell and promote products and services.
The global social commerce market is expected to reach nearly $3,370 billion by 2028, with the beauty and personal care segment projected to grow at a compound annual growth rate (CAGR) of over 30% between 2021-2028, Unilever added, citing data from Grand View Research.
The Positive Beauty Growth Platform is especially interested in partnering with entrepreneurs, from seed startups to late-stage scale-ups, in the field of livestream commerce, shoppable media, group buying and gaming commerce.
Unilever added that successful teams would be given the opportunity to pilot their idea in collaboration with some of the world’s leading beauty brands.
Recently, the company joined a new global coalition along with Henkel, L'Oréal, LVMH, Natura &Co to co-develop an industry-wide environmental impact assessment and scoring system for cosmetics products.