Cosmetica Italia Releases Positive Projections for Italian Beauty Business

MILAN — Cosmetica Italia, the Italian association of cosmetics companies, is forecasting a positive scenario for the industry this year. According to figures and projections released on Thursday by the association’s newly elected president Renato Ancorotti, the Italian cosmetics industry is expected to see revenues increase 4.5 percent to 11.5 billion euros in 2018 compared to the previous year. Projections also see exports climbing 8 percent to reach 5 billion euros, while the trade balance will reach the record amount of 2.7 billion euros, even with imports increasing 1.9 percent in 2018. Ancorotti underscored the industry’s performance will be boosted by new distribution channels, which are shifting and impacting the sales of cosmetic goods on a national scale, and the performance of Italian supply companies, whose revenues totaled 1.5 billion euros last year and will further increase by 10 percent in 2018. Exports remain a major force for said companies, as Italian suppliers produce 67 percent of the total makeup distributed across Europe. Regarding the distribution, the mass market covers 41 percent of the national cosmetic market and its sales are expected to further grow by 1 percent to 4.2 billion euros this year. Sales in professional hair and beauty saloons will continue to increase

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