The Rise of the Chief Image Officer in Beauty

Why beauty brand storytelling is now a C-suite concern

The business of beauty is in the middle of a reckoning. Once noted for its resilience in times of economic downturn, the cosmetics industry is now facing successive quarters of negative growth, global restructurings and widespread layoffs. Though forecasts remain bleak, amidst the chaos, a new kind of leader is emerging – the Chief Brand and Image Officer, whose role is not so much managing margins as giving brands new meaning. A blend of creative director, brand visionary and strategic marketer, the Chief Brand Officer highlights the growing importance of creative storytelling in connecting to customers in an overcrowded and homogenous market. A CBO is not just a marketer, they need to bring creative culture amongst a world of imitators.Just last week, Kiko Milano announced creative director Drew Elliot, formerly at MAC Cosmetics and Paper Magazine, as its new Chief Brand Officer. His position at MAC is being filled by Nicola Formichetti, a creative director with tenures at Diesel and Mugler. In one of our own matches made by Alexander & Co., Gaga's own Haus Labs announced in January that it will be Chief Image and Brand Officer Katharina Korbjuhn for a complete "visual overhaul." Recognised for her clean yet alternative aesthetic, Korbjuhn has previously assisted with Chemena Kamali's debut at Chloé, the digital launch of System Magazine and relaunch of Schiaparelli, as well as her own indie-magazine Paradise Trilogy. The hiring of these visual storytellers sends a clear message. In today's fiercely competitive market, product alone isn't enough. Brands must create a narrative that authentically connects. "Customers haven't stopped caring about beauty, they're just more discerning," says Daniela Morosini of BOF. "Beauty is a category with strong emotional ties." BOF's recent State of Fashion: Beauty Report reported that 75% of executives expect consumer scrutiny of perceived value to be the biggest theme shaping the industry. However, "value does not [always] mean lower prices," says TD Cowen analyst Oliver Chen. "It means investing in your product" – and, by extension, the story around it. Storytelling with an emotional punch and hyper-creativity represent the solution. Just find the right Chief Image Officer, who chimes with the values of your brand, to deliver.