Background: Today as awareness about sustainable development increases, more attention is drawn towards sustainability strategies of the companies. However, prior research has not investigated the formulation and implementation of sustainability strategies within companies of different size and scope as existing studies are skewed towards the perspectives of large firms even though SMEs mark up more than 90% of the market. 

Purpose: The main objective of this study is to gain an in-depth understanding of sustainability strategy formulation and implementation within the cosmetics industry from the perspectives of both MNCs and SMEs.  

Method: To fulfil the purpose of the study, exploratory qualitative research is performed, using a multiple-case study design where several cases are selected to develop a more in-depth understanding of the research topic. 

Conclusion: Based on the collected data, it can be concluded that sustainability strategies are initially driven by an environmentally conscious founder who has translated personal beliefs into the organizational culture. Furthermore, the analysis results show the relationship between the driver of sustainability with formulation and implementation mechanisms applied within the company.