The CAA Award was first announced in May 1978 by the Cosmetics, Toiletries & Fragrance Association to promote and celebrate American and European cosmetic products. The first awards were presented in January 1979 with CSK Company winning the award.
The CAA Award is considered one of the most prestigious awards in the field of cosmetics. The award is given each year at a formal ceremony. After a selection of finalist products is announced, the final winning products (and companies) are honored at a gala event in New York City.
References
CAA Award Wikipedia(Text) CC BY-SA