Unipro notes anti-cyclical character of cosmetics in Italy
The anti-cyclical character of the cosmetics industry has been underlined by Italian cosmetics association Unipro, meeting in Milan. Despite the current contraction in industrial investment, spending on communication activities – promotions etc – now exceeds €525m annually. Contraction within the sector has been below that for Italian commerce in general.
Consumption of cosmetics, which grew by some 0.3% in value terms to over €9.1bn, is expected to see further recovery in 2010 based on product and distribution innovation. Fabio Franchina, Unipro president, said the only variables remained issues such as pricing. Meanwhile, consumer trends in over two seasons had confirmed that cosmetics consumption was not directly sensitive to negative economic factors.