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Sunday, May 5, 2024

Inside the beauty industry’s newest power play: Tech acquisitions

Crea’s established presence in Southeast Asian markets such as Vietnam, Malaysia and Thailand was another bonus. In addition, Reis was impressed by Crea’s technology platform, Cusp, which has multifactorial capabilities, allowing for reporting as well as consolidation and dissemination of multiple products across many platforms, all at once. “It also allows us to configure and create special offers or promotions on the fly and test them in real-time,” adds Reis.

The e-commerce boom driven by the pandemic highlighted how ill-equipped many companies were to operate online consistently, notes Shkolnik. “In theory, a lot of companies had their supply chain and logistics all sorted. [They] then quickly realised that they were, in fact, woefully unprepared to meet demand. Now, these companies need to give consumers the confidence that, if they buy products online, the experience…

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