Italian cosmetic industry ignores economic crisis as turnovers increase

By Andrew McDougall

- Last updated on GMT

Related tags Cosmetics

The Italian cosmetics industry was on full display at Cosmoprof 2012
The Italian cosmetics industry was on full display at Cosmoprof 2012
The Italian cosmetic industry has not bowed to the pressure of the economic situation and has actually seen turnovers increase by 4.6 per cent due to the ongoing demand for cosmetic products, according to Fabio Rossello, president of Unipro.

Speaking at the Cosmoprof 2012 fair in Bologna, the head of the Italian Cosmetics Industry Association said the reasons behind industry growth are that “consumers are increasingly unwilling to do without their cosmetics.”

Despite the reported financial crisis, 2011 saw the cosmetics market achieve a slight increase, with a total value of €9,624m.

The most comforting signs came from the herbalist shop and pharmacy channels, while perfume shops were on the rebound and large specialised retailers helped the mass market hold its own.

Exports vigorously revived

According to Unipro figures, the most significant boosts to the cosmetics industry’s growth came from exports, which revived vigorously as a result of the competitive edge of Italian output.

However, Italy was and is not exempt from international uncertainty and the crises afflicting numerous economic areas impacted on markets in 2011: despite the government’s end-of-year budgets, expectations of revival are still very guarded.

According to Unipro, although 2012 may bring a turnaround, it will be arduous to return to the levels enjoyed in 2007, before the crisis hit.

“Although they are ploughing their way through hard times, Italian firms kept pursuing their strategy of committing to research and innovation in 2011, repeating their propensity to devote more than the domestic average to industrial investments,”​ said an Association statement.

Cosmoprof Bologna

Unipro presented its findings at the 45th edition of Cosmoprof Worldwide Bologna, which boasted 175,703 attendees in four days, confirming it as one of the most international shows among the largest Italian exhibitions.

All in all, 2,320 exhibitors, coming from more than 70 countries and as many as five new Country Pavilions: Mexico, California, Brazil, The Netherlands and Romania, were present at the Fair.

“This Cosmoprof is concrete: during the Fair, the industry responded with innovation and courage to the requests from International buyers visiting Bologna from across the world,”​ said Rosello, expressing his optimism for the future.

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