Brazil and Europe in the spotlight
Milan-based sub-contract cosmetics manufacturer Intercos, with a subsidiary in the UK, is seeking to increase its capital by some €50m to fund further expansion, especially in the burgeoning market of Brazil. The company has indicated that despite a difficult year in 2009, it is now in a position to forge ahead with its five-year business development plan.
Sales are expected to reach some €250m in 2010, up about 18% over the year earlier with operating earnings rising in parallel to around €30m. Production of luxury brands accounts for about 30% of total output with direct sales and bulk distribution for around 40% of output. A series of new product launches is scheduled for next year.
Intercos currently has nine production sites and is reportedly considering the acquisition of a producer of make-up products in Europe.