Marks a key milestone in Gotha’s international expansion.
Gotha Cosmetics has acquired a majority stake in iColor Group, a Chinese cosmetics formulation and filling company.
This acquisition marks a key step in the international expansion of Gotha, established in Italy in 2005.
“Through this acquisition, Gotha Cosmetics will strengthen its global footprint and production capacity in Asian markets, and more specifically China, which are experiencing strong and stable growth,” said Paolo Valsecchi, CEO of Gotha Cosmetics. “The initial focus will be expansion into the local market maintaining the current iColor setup and leveraging our Italian cosmetics expertise.”
The agreement will allow Gotha to accelerate its growth through local brands in China, as well as support its current customer portfolio in expanding into Asia through local production.
Already established in the United States and in the Europe, Middle East and Africa region, Gotha Cosmetics is known for its emulsions as well as for its innovation in liquid lip products. The manufacturer is also focusing on developing hybrid solutions that can bridge the gap between color cosmetics and skincare.
iColor Group provides skin care and makeup formulations, product development and filler solutions to local and international brands. The company has two production sites based in Suzhou and Shanghai, covering a total area of over 430,556 square feet. Both facilities are equipped with technology and machinery handling a variety of product categories in emulsions, powders and anhydrides, as well as integrating R&D with production and filling departments.