Cosmetochem tries to increase American presence
for its botanical extracts and actives in the US and Latin America.
The deal is part of the company's aim to increase sales in the Americas by as much as 120 percent during the next 12 months.
Cosmetochem has been present in the Americas for 15 years, but its market penetration has, until now, been limited to the eastern board of the US; building a strong presence in the Latin American market has proved even more difficult.
In an effort to rectify this situation, the company has appointed Noveon, a global distributor of personal care products, to distribute its ingredients in both regions.
"Our old distributor has been sold off, which is giving us a good opportunity to start over again and look at new regions and markets," said Dr Olaf Marks, Cosmetochem's CEO. "With the new agreement we are hoping to increase the reach of our ingredients into the mid-west as well as the west coast of the States.
"Equally we are also expecting that the deal will significantly increase our presence in the huge Mexican and Brazilian markets, where our market distribution is currently minimal."
Until now, the mainstay of the company's business has been in Europe, where it supplies many leading cosmetics companies, including Alberto-Culver and Avon, through subsidiaries in both France and Germany, as well as its Swiss headquarters.
Currently the company has around a 20 percent share of the market for botanical ingredients in Europe. But, according to Marks, that figure is set to grow to at least 50 percent in the course of the next few years as the company continues to extend its reach in the market.In the Americas, Marks said that although the company hopes to significantly increase its sales, they will be built on a much smaller market share than in the EU.
