In a captivating discussion, Bart Sayer, former senior vice president at Estee Lauder, shares his extensive experience in the beauty industry. He breaks down the structure of major cosmetics companies and differentiates between luxury and mass-market segments. Bart emphasizes the critical role of distribution channels in defining brand equity and reveals the growth potential for travel retail. He also addresses the challenges faced by indie brands in gaining consumer loyalty and the rise of clean beauty, highlighting sustainability's increasing importance.