The fragrance industry is booming annually, and this success is evidenced by the beauty industry, which is set to grow to $580 billion by 2027, with an average annual growth rate of 6%, according to a market study by McKinsey & Company. Sectors such as makeup and haircare are experiencing significant growth, with an 18% increase in makeup and a 17% increase in haircare. The United States currently leads beauty sector spending, with approximately $90 billion, followed by China ($60 billion), Japan ($37 billion), and Brazil ($35 billion).
In recent years, the beauty industry has embraced new perspectives, particularly through the use of new technologies, including AI. However, what is crucial within the sector is the need for experts with the right skills to adapt to a constantly changing market, especially in terms of marketing and communication, considering the increasing focus of the new generation on social networks.
Market research underscores the demand from beauty brands and conglomerates for highly specialised training tailored to future managers in the fragrance and cosmetics sectors. In answer to this demand, Istituto Marangoni introduced a comprehensive educational programme in 2023, offering BA and master’s degrees, strategically structured across selected locations within its global network of schools. According to Stefania Valenti, Managing Director of Istituto Marangoni, the focus of their academic programmes is on developing beauty brands rather than just products.
“The aim of our educational offer, the first in Italy dedicated to Beauty & Fragrances with AFAM-validated courses, is to prepare future professionals needed by companies, including Product Managers, Marketing Managers, Brand Managers, Licensing Experts, as well as Digital Content Managers or Experience Marketing Managers” – Stefania Valenti, Managing Director of Istituto Marangoni
Stefania Valenti, Managing Director of Istituto Marangoni, and Alessandra Gallone, Advisor for the Italian Ministry of Universities and Research, at the Istituto Marangoni press conference focused on the school's Fragrance & Cosmetics courses
Furthermore, Istituto Marangoni Milano and Istituto Marangoni Firenze are pioneering schools, being the first to offer AFAM-validated courses dedicated to Beauty & Fragrances, accredited by the Italian Ministry of University and Research. “I extend my compliments to Istituto Marangoni,” remarked Alessandra Gallone, Advisor for the Italian Ministry of Universities and Research, during her attendance at the press conference hosted by Istituto Marangoni to mark this important validation.
“Istituto Marangoni have successfully forged a significant alliance between the public and private sectors, in tune with industry needs. Their vision and swift action are commendable. Never have I witnessed such immediate alignment between thought and execution. In universities and advanced training programmes, there is a growing convergence between scientific and humanistic disciplines. It’s crucial to evolve our language; we can now refer to the attainment of a degree” – Alessandra Gallone, Advisor for the Italian Ministry of Universities and Research
Italy’s significance in this endeavor is no accident; it holds a special place as the birth country of Istituto Marangoni’s legacy since 1935. Moreover, according to the Centro Studi di Cosmetica Italia, Italy’s cosmetics industry witnessed remarkable growth, with total turnover reaching €15 billion in 2023, marking a 13.3% increase from the previous year. Projections for 2024 forecast an additional positive trajectory of +9.8%, pushing the turnover to €16.5 billion. Notably, these figures are influenced by exports, which surged to €7 billion in 2023 (+19.5% compared to 2022), with a further anticipated growth of 12 percentage points in 2024.
Beauty’s vision extends globally, and so does Istituto Marangoni’s commitment to partnering with international players, not just in Italy. This provides students with opportunities to participate in concrete projects and foster collaboration between the school and the professional sector. Partnerships include Accademia del Profumo e Cosmetica Italia, Dolce&Gabbana Beauty, and Officine Santa Maria Novella for the Italian schools, while Symrise collaborates with the Paris school. Recently, Istituto Marangoni has expanded its Fragrances & Cosmetics courses to schools in Dubai, Mumbai, and Shanghai, reflecting its embrace of an international mission.
Accademia del Profumo, a partner of IM Milano Fashion School, actively promotes olfactory culture. In Italy, where 600 fragrances are launched annually, Ambra Martone highlights the significance of locally sourced ingredients like bergamot fruit from Calabria, emphasising the importance of Made-in-Italy excellence, which has long inspired the fragrance industry globally.
“Today, the primary focus lies in human emotions: where perfume was once considered a ‘honey trap,’ it now embodies something deeply personal. On September 29, 2024, at the conclusion of Milano Beauty Week, we will host a closing event at Teatro Alla Scala in Milan, featuring a concert inspired by music and fragrance” – Ambra Martone, President of Accademia del Profumo
Ambra Martone, President of Accademia del Profumo, at Istituto Marangoni
Another significant contributor to the beauty industry, Dolce&Gabbana Beauty, is collaborating with Istituto Marangoni to offer students an exclusive industry project centered on developing a new communication and marketing strategy, beginning with their iconic product, Light Blue perfume.
“The beauty market is primarily seeking expertise in brand management, visual merchandising, and communication. There’s a constant, comprehensive search for skills, especially in marketing: while the product holds importance, 50% of its success is attributed to marketing. Our ventures’ success relies on individuals; finding young managers with international skills in the beauty industry has been challenging” – Gianluca Toniolo, CEO of Dolce&Gabbana Beauty
Gianluca Toniolo, CEO of Dolce&Gabbana Beauty, at Istituto Marangoni
Silvia Tarini
Editor