Following the economic, social and business impact report on the value of the Beauty Industry to the UK Economy by the British Beauty Council, the organisation will now celebrate the achievements of the beauty industry in a new beauty-focused event.
The repost is the first of its kind in quantifying the economic footprint of the beauty industry, establishing the value of the beauty industry last year as £27.2 billion, the largest share of which comes from purchases of care and maintenance products (£10.4bn), followed by purchases of personal enhancement products (£8.7bn) and beauty services (£8bn). Furthermore, the industry is found to create nearly 600,000 jobs - which equates to 1 in 60 jobs in the economy.
British Beauty Council also found that the beauty industry supported £7.0 billion in UK tax revenues in 2018.
Considering that the Beauty Industry is driving 1.3% of the UK's GDP and constantly growing, there is cause to celebrate.
London Beauty Week will take place in Covent Garden's Beauty Quarter from 11-15 September and aims to celebrate the industry's contribution to the UK economy. The week will consist of events for both consumers and trade beauty customers representative of the two forces growing in the industry. Events will showcase some of the most exciting British beauty products and demonstrate both the British Beauty Council and London's Beauty Quarter Covent Garden's commitment to supporting growth and influence the beauty industry.
