Cosmetics & Personal Care
Sumitomo joins forces with Intercos in Japan 23rd February 2018
Italy’s headquartered Intercos Group has announced an agreement with Japan’s Sumitomo Corporation Group and Summit Pharmaceuticals International to form a joint business dedicated to cosmetic original design manufacture in Japan. Intercos and Sumitomo will initiate common R&D activity in Japan, and plan to open a common show room in the Tokyo city area during the year 2018. The new facility will provide local clients with technical and creative services to enhance innovation in beauty and health products.
The cosmetic market in Japan is estimated around US$ 24-25 billion (retail base) and is expected to continue growing over the next years. Japan-made cosmetic products are also highly appreciated by consumers throughout Asia thanks to their reputation for high quality and safety. The cosmetic OEM and ODM industry in Japan is also expected to grow in importance under the influence of various market changes, such as the shortening of product development time and the entry of new comers from different industries into the cosmetics market.
Intercos is a leading global original design manufacturer of colour cosmetics, skin care products, toiletries and active ingredients. Founded in 1972, the company currently has more than 430 clients globally and is able to deliver a full-service approach, from product design and concept creation, to manufacturing of finished products throughout the world. The group has 15 plants in Europe, USA, Brazil, China and Korea, 11 R&D sites and 15 marketing offices and employs more than 880 people around the world, delivering over 1,000 new formulas every year.