The Center will Enhance FIT’s Globally Renowned Graduate Think Tank and Facilitate Partnerships with Leading Brands and Research Firms as Beauty Sector Posts Continued Growth
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, June 5, 2024 /PRNewswire/ — The Fashion Institute of Technology (FIT), a college of the State University of New York (SUNY), today announced the opening of The Beauty Center at FIT, a dynamic research center for the beauty industry, dedicated to global business strategy and consumer trends. In partnership with the beauty industry, the Center will contribute thought leadership to the beauty sector, which is expected to continue to grow at impressive rates on the heels of nearly 20% growth since 2018 (Cosmoprof North America). According to Cosmoprof North America, the largest research partner to FIT’s graduate beauty program, the sector registered a total value of over $617.2 billion worldwide in 2023, and in 2024 is projected to reach $670.8 billion with 9% annual growth.
“As an extension of FIT’s internationally recognized program in Cosmetics and Fragrance Marketing and Management (CFMM), we are proud to establish The Beauty Center at FIT,” said Joyce F. Brown, president of FIT. “Through industry partnerships and innovative research that will be advanced by the Center, our master’s level students will be positioned to help shape the future of the global beauty industry, often alongside other distinguished CFMM alumni who are leading renowned brands.”
A successful education partner to the beauty industry for over 35 years, FIT is also the only college in the United States with a state-of-the-art fragrance and cosmetics laboratory. Now, with the addition of The Beauty Center, FIT will accelerate its ability to predict market trends, identify strategic business opportunities, and build on its record of global research success. Past research by CFMM has incorporated extensive field study work in markets ranging from Asia (China, Hong Kong, India, Japan, Korea, Singapore) to the Middle East/North Africa (Morocco, UAE) to Europe (Denmark, France, Greece, the Netherlands, Spain, Sweden, UK). On June 26, the Class of 2024 will unveil its latest research study, The Future of Accessible Beauty.
“Having been a senior executive in the beauty industry for 20 years, prior to spending 11 years on the teaching faculty of the CFMM graduate program, it is a particularly special joy for me now, as dean, to be part of the establishment of a Center that will further enhance and support the cutting-edge qualitative and quantitative research done in the program, and to help FIT continue to elevate its unique educational partnership with the highly creative beauty industry sector,” said Dr. Brooke Carlson, interim dean of Graduate Studies.
“After 25 years as founder and chair of the master’s program, it is the fulfillment of the original vision of a true academic Think Tank to see this Center come into being,” said professor Stephan Kanlian, chairperson, MPS Cosmetics and Fragrance Marketing and Management. “It will be a place to conduct collaborative research with industry, showcase the existing global research done annually by our students, and exchange new ideas with industry through symposia and conferences, as well as to create a place for our alumni to experience lifelong learning.”
The only one of its kind in the United States, and widely recognized as the “Think Tank for the Beauty Industry,” the CFMM graduate program will celebrate its 25th anniversary next year. To date, more than 450 students have graduated from the program. Distinguished CFMM alumni include executives from Chanel, Coty, Inc., DSM Firmenich, e.l.f. beauty, Estée Lauder, IFF, L’Oréal, LVMH, Shiseido, Unilever, and more.
The Beauty Center at FIT is located at 520 Eighth Avenue, convenient to FIT’s Chelsea campus.
About The Beauty Think Tank
The FIT Master of Professional Studies (MPS) in Cosmetics and Fragrance Marketing and Management (CFMM) program, one of seven unique advanced degree programs in FIT’s School of Graduate Studies, was developed in collaboration with industry as a leadership development program for outstanding mid-career executives. Global luxury firms including Chanel, Estée Lauder, LVMH and Shiseido, and global consumer packaged goods companies including Coty, L’Oréal and Unilever, nominate talented emerging executives to participate in the two-year program. The CFMM program has become the beauty industry’s recognized think tank, producing high-level research presented to industry executives and organizations, and during specialized panels, symposia, and forums in both academia and industry. Visit fitnyc.edu/cfmm.
About FIT
A part of the State University of New York, FIT has been a leader in career education in art, design, business, and technology throughout its history. Providing over 8,000 students with an uncommon blend of hands-on, practical experience, theory, and a firm grounding in the liberal arts, the college offers a wide range of affordable programs that foster innovation and collaboration. Its distinctive curriculum is geared to today’s rapidly growing creative economy, including fields such as computer animation, toy design, production management, film and media, and cosmetics and fragrance marketing. Internationally renowned, FIT draws on its New York City location to provide a vibrant, creative community in which to learn. The college offers nearly 50 majors and grants AAS, BFA, BS, MA, MFA, and MPS degrees, preparing students for professional success and leadership in the new creative economy. Among notable alumni in fashion are Calvin Klein, Michael Kors, Reem Acra, Brian Atwood, Dennis Basso, Francisco Costa, Norma Kamali, Nanette Lepore, Bibhu Mohapatra, Daniel Roseberry, Ralph Rucci, John Bartlett, Peter Do, and Michelle Smith. Other prominent graduates include Leslie Blodgett, creator of bareMinerals; international restaurant designer Tony Chi; and Nina Garcia, editor in chief, Elle. For more information visit fitnyc.edu.
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SOURCE Fashion Institute of Technology
