But is it the same today? Even if the last years of pandemic took a big toll on women, pushing them out the most from the workforce across all countries, I could finally see the change happening. From Japan to South Korea, from China to India, the Millennial generation is making the difference on a large scale, because both men and women acknowledge the importance of a female participation in the society.
And today India is the country undergoing the biggest transformation.
Forecasted to become the 3rd largest economy in the world by 2030, thanks to its fast-growing GDP, with an increasingly higher portion of the population out of poverty, the next transformation will be increasing the presence of women in the workforce.
Quite surprisingly, the female labor participation rate is even declining.
That it is due to a mix of factors, some of them very positive: indeed increased prosperity means that women have the choice to be able to dedicate herself only to family, and as well to keep studying to achieve a degree, as per today they are enrolling in schools and college in greater number. While on the other side in many traditional and multi-generational households, there is still a common belief that women’s role is centered around the family obligations. But as much as the generations will evolve, this will change as well.
Today I have the privilege to know how many brilliant women are leading the Cosmetic Industry in India, defining its deep transformation with their passion and intelligence. Authenticity is the key message, to create products that deeply understand local beauty needs in their specific diversity. India has the biggest number of gen z in the world, a community growing up extremely digital connected and passionate with beauty. And the biggest population in the world of Korea lovers, from K pop & K drama, to K beauty!
Our mission as INTERCOS is to nurture and lead the change: being present locally to make our vision of quality, trend and innovation even more accessible to the Indian demand. Our newly established factory in Dehradun is the key hub where we make all of this possible, transferring key technologies and formulations in all categories from makeup to skincare, iconic in the global market and adapted to the local desires.
Dehradun is at the center of the region most famous for wellness in India, core for Ayurveda and Yoga. That inspired us how to further connect local expertise to global technology, as in our vision of BIOHACKED AYURVEDA: we are creating a new generation of ayurvedic actives extracted with an exclusive process, proving superior efficacy, thanks to the work of VITALAB, our joint venture on active ingredients.
We believe that India will play a key role in boosting the future of beauty, and now it is the time to make it happen.