CEOInterviews.AIThe Davines Story, Its Path To Success, Becoming a Certified B Corp, with Chairman Davide Bollati

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Interviewer0:06

David B, I am so happy to have you on my show. We've known each other over many years. I had my time at L'Oreal and full disclosure, I worked for you. I really enjoyed discovering the brand. So in your own words, who is Davide Bollati?

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Davide Bollati0:31

I am a son of two parents who started a beauty business by accident in the 60s because neighbors were in packaging. Growing up, I felt my parents needed help, so I studied pharmacy at the University of Ferrara and moved to the US and France to finish my education. I joined the family lab in the early '90s and turned it from a third‑party packaging shop into a brand company. It's not so bad to have no 9‑to‑5 when you love what you do.

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Interviewer2:28

It's so important to have passions that bring you energy. Running a business takes a lot of energy. Congratulations on the journey. I want to circle back to your education—why did you choose to go to Fairleigh Dickinson in America?

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Davide Bollati2:55

The truth? In Italy you had to do military service, and I didn't want to waste a year. I still think it's a waste. I became a pharmacist at 23, worked for a raw‑material company in New Jersey, and returned at 26 when I was released from the obligation. I didn't actually serve because I was a US citizen.

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Interviewer4:48

We share something there. What's interesting about your background is the mix of packaging, chemistry, and raw materials. Is that right?

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Davide Bollati5:09

Yes. I also had an entrepreneurial spirit and a tiny lab. I was into marketing too—our first line in the early '90s had special packaging with extra sensoriality. The beauty industry requires you to integrate different disciplines into an artistic craft.

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Interviewer6:35

How did those roots inform the company today? I know Davines well. You always had distinctive packaging that made the brand stand out.

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Davide Bollati7:01

Packaging sends many messages—it's an expression of who we are and our values. After raw materials, it's the second‑largest component of the beauty footprint. We approach it from a value‑based, purpose‑driven perspective.

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Interviewer7:37

Let's go back to the name Davines. How did that come about?

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Davide Bollati7:52

My parents mixed the names of their two children: Stefania and David. No budget for an agency, so they created it out of love.

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Interviewer8:28

Google likes it because it's uncommon. When you talk about purpose, when did that become central? You're a B Corp. What is the purpose and how did it come to be?

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Davide Bollati8:54

Our purpose is to do our best for the world by creating a good life through beauty, ethics, and sustainability. We refined it many times. In 2005 we declared 'sustainable beauty' after a philosophical exercise with 100 colleagues. Then in 2015 we discovered B Corps—stakeholder‑driven companies. It's a shift from the 95% shareholder‑driven model. Now we consider all stakeholders: environment, suppliers, colleagues, clients, communities. That's where the magic begins.

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Interviewer15:38

You chose a philosopher to counsel you on purpose and ethics. How did that happen, and how did you pick the philosopher?

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Davide Bollati16:18

We hired a psychologist in HR, and she had a professor from Adriano Olivetti's city. Olivetti was an enlightened entrepreneur. I also wanted to give depth to a shallow industry. Greek philosophy—Aristotle's ethics and aesthetics—led us to eudaimonia, a happiness you build through a journey. These roots shape our decisions today.

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Interviewer19:55

I love that eudaimonia, all about the journey. With B Corp you used the word 'magic'. Where did that magic happen?

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Davide Bollati20:35

The magic is expanding your scope to work on communities and supply chains. When you only launch products for trends, it's less exciting. Money doesn't buy happiness; in Davines, the numbers are a consequence of our purpose‑driven journey.

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Interviewer21:53

Your code of ethics includes innovation, but for you innovation is broader—it's also about how you run the company and why it exists.

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Davide Bollati22:29

We think of ourselves as a purpose‑driven company that uses products—not a product company. We keep learning, especially in sustainability. As we grow, we can afford more, creating a crescendo of good.

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Interviewer23:33

You're still privately owned. How big is Davines, and how have you stayed private instead of going public?

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Davide Bollati24:18

2023 revenue is about 265 million euros, 100% family‑owned. Staying private lets us make long‑term decisions without financial pressures. Financial people rarely understand sustainable growth. Aiming for 10‑20% organic growth is right for us; above 20% is too fast. EBITDA is around 15%—our general manager recently asked to lower it, and I agreed because sustainability is expensive. Going public would end our business model and way of life.

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Interviewer27:59

You said 'good for growth' and 'growth for good'—a great combination. Tell me about that balance.

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Davide Bollati29:20

We aim for organic growth. Fast growth is culturally and industrially painful. Our 30‑year CAGR is 19%. Recently we've been hiring 100 people a year—we used to know everyone by name. Our Davines Village helps keep community, but we're already out of space and bought the neighbor. We're still a niche player, not in the top 100 beauty companies.

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Interviewer32:58

With the B Corp and the village, when will it become Davines city or town?

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Davide Bollati33:13

We're building a regenerative hotel in Parma, opening in two years. We want to expand the visitor experience into hospitality—an industry with few B Corp hotels. We think beyond beauty and take inspiration from outside.

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Interviewer36:34

You have a strong idea of community. How do you craft it—explicitly or as a consequence?

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Davide Bollati37:00

Very explicit. We invest in events and physical meetings. Our biggest community is the hairdressers—about 100,000. We gather thousands at events. Regional ones work better. In January we'll bring 500 North American people to Punta Cana. It's expensive but we believe in it. Community strength correlates with business strength.

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Interviewer40:35

I remember you opening New York and Paris. The professional hairdresser industry is still central. How has it changed?

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Davide Bollati42:17

Many hairdressers are going independent via social media and coworking spaces. But many feel lonely and want to belong again. Beautiful salon spaces that inspire are rarer. The emotional power of going to a hairdresser is huge—during COVID, Italian women said it was the number one thing they missed.

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Interviewer46:59

One last question: define success.

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Davide Bollati47:53

Success is to be content with your journey. On the last day, to feel you've lived a life worth living, without too many regrets, and that your conscience is in a good place.

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Interviewer49:04

That's lovely. Thank you for sharing. Any final words or links?

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Davide Bollati49:34

Visit davinesgroup.com for our sustainability report with hundreds of projects on decarbonization, circularity, biodiversity, and water. Also di‑care or Comfort Zone for skincare. Thank you for the hour—it was a pleasure.

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Interviewer50:32

Thank you for your time between two planes in Dubai. We'll stay in touch. Ciao, bye.