The Italian contract manufacturer of color cosmetics has taken a majority stake in China’s cosmetic formulation and filling company iColor Group with the aim to expand its global footprint.
Gotha Cosmetics sets foot in China through a majority investment in iColor Group, a cosmetic formulation and filling company headquartered in Shanghai. Financial details were not disclosed, but the operation marks a key milestone in the international expansion of the Italian company.
Created in 2005, Gotha Cosmetics produces a large variety of color cosmetics with a strong expertise in emulsions and is well known for its innovative face products and liquid lipsticks. The company has solid business background in the US and EMEA Regions.
With this transaction Gotha aims to accelerate its growth with local brands in China, as well as to support its current client portfolio in its expansion in Asia through local production. The acquisition will also increase Gotha’s capabilities in turnkey solutions.
“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,” said Paolo Valsecchi, CEO of Gotha Group.
One-stop cosmetics manufacturer
iColor Group provides skincare and make up formulations, product development and filling solutions to local and international brands. They define themselves as a one-stop cosmetics manufacturer that provides product designs, formula research and development, production, processing, sourcing, product record, warehousing and logistics.
The company owns production facilities in Suzhou and Shanghai, with more than 40,000 sqm covered surface. The sites integrate R&D, production and filling departments and can process a wide variety of product categories including emulsions, powders and anhydrous formulas.
