Gotha Cosmetics marks a key step in international expansion through a majority investment in Chinese iColor Group.
WHO: iColor was founded by Chinese entrepreneur Mr. Johnson Shan, well known in the industry with a successful past in the packaging area. iColor Group formulates, develops, and fills for local and international skincare and color brands. The company owns two production facilities based in Suzhou and Shanghai, with more than 40,000 sqm.
Founded in 2005, Gotha is a leading Italian contract manufacturer in the color cosmetic space located outside Milan. The company has an established business in North America and EMEA Regions driven by a strong commitment to performance in hybrid solutions that can easily bridge the skincare features and benefits.
WHY: This transaction enables Gotha to accelerate its growth with local brands in China and support its current client portfolio in Asia through local production. Turnkey solutions are also in scope to increase competitiveness and speed.
IN THEIR OWN WORDS: Paolo Valsecchi, CEO of Gotha Group, said, "Thanks to this acquisition Gotha cosmetics will strengthen its global footprint and production capacity entering the Asian and specifically Chinese markets, which are experiencing a solid and stable growth. We think that the timing for this transaction is perfect and iColor is the right partner to serve those markets and deliver good products and service. Initial focus will be the local market expansion, keeping the current iColor set up and leveraging meanwhile our Italian expertise in cosmetics."
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