‘Wow’ Experience and Social Conversation Win at the WWD Beauty Summit

NEW YORK — The tides of change aren’t slowing down — at least in the beauty industry. “Our dynamic industry is changing profoundly, and that process will only continue,” said Estée Lauder Cos. Inc. chief executive officer Fabrizio Freda, the keynote speaker at the dinner Monday night ending the first day of the two-day WWD CEO Beauty Summit here. “Change is flowing like a current of the ocean — the question for us as leaders is how to harness these currents to better serve our consumers?” “Leading change includes recognizing what should not change,” he said. Freda suggested the way to make it through changing times was to remember what never changes — the importance of consumer loyalty versus novelty (moving customers from trial to replenishment), volatility as the new constant, and the benefits of a diversified business model, which Freda said is the “best way to rise above disruption.” “My advice to legacy and pioneer brands alike — remember quality product and performance matter,” Freda said. “[But] creativity is still the differentiator that sets great brands apart…today a consumer wants a wow experience…[the] how of wow is creativity.” Few people know this better than Emily Weiss, founder and ceo of Glossier. Weiss, who founded Glossier

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