Cosmetic and personal care ingredients players Inolex has announced the opening of its new Commercial & Technical Center in Guangzhou, China as part of its expansion plans in the market.
The company says the move is a significant step because it solidifies its global presence in cosmetics & personal care ingredients, and forms part of plans to expand its footprint both in Asia and the global market.
Technical expertise for the China market
The grand opening ceremony for the new facility was scheduled to take place on Friday February 26th, 2016.
“We are excited to expand our presence in China,” said Inolex Chairman, Conrad Plimpton.
“Utilizing our expertise in Alternative Preservation, Naturals and Suncare, INOLEX will discover new ways of supporting the many talented personal care formulators in China”
Building on 2012 plan to expand globally
Back in 2012 the company announced plans to expand its cosmetic and personal care business globally, and specifically into the Asian market.
As part of this, the company announced a new branding to reflect its multi-million dollar investment in cosmetic technologies that are natural, sustainable, in an effort to meet consumer needs.
Expanding global reach
The branding drive was initiated to reflect the company's rapidly expanding global reach, including the establishment of new sales and technical support offices in Japan, Thailand, India and China.
These new offices were developed to complement Inolex's existing activities in the European Union and North America..
In particular the global expansion has targeted incredible growth in the huge China and India markets, where economic progress and an increasingly affluent consumer have helped fuel double-digit annual growth in the cosmetic and personal care categories in recent years.
Targeting these markets is helping a lot of international businesses in the cosmetics arena to overcome stagnant sales in the more developed markets, where economic development has been significantly curtailed in recent years.
Although growth economic growth has slowed significantly in China over the last couple of years, growth in the cosmetics segment is still projected to be in the upper single digit figures during the course of 2016.