Culti Milano, a company specialized in the production and distribution of fragrances and skincare listed in the Aim Italia segment of the Italian Stock Exchange, conquers new markets in the Far East, signing distribution agreements with Spgpl (India) and King Power Group (Thailand).
Spgpl, founded in 1992 with the aim of distributing premium brands of eyewear and accessories, is considered one of the most exclusive realities in the creation of retail platforms for international brands in India, explain the company. While with King Power Culti Milano will carry out an innovative distribution project based on the O2O Business model, or the integration between the offline and online market, created with the new 2021 concept, “F1RSTER”, a reference point of sale capable of offering a avant-garde beauty and lifestyle shopping experience in which, within the second half of the year, a Culti Milano shop in shop will be created.
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«Growing significantly is the goal we have set ourselves for the next few years and to achieve it we invest in new markets. We maintain the expansion path on the Asian market with choices made already in 2020 which saw the birth of Culti Milano Asia, the joint venture signed with Vitel International Hong Kong, a company active in China, Hong Kong and Taiwan “declares Giovanni Casale, general manager of the Culti Milano group (among the brands in the Bakel and Scent Company portfolio) which closed the first half of the year with total consolidated sales of 9 million euros, double compared to the same period of 2020, Ebitda of 1.7 million compared to Previous 0.6 million and a positive net financial position of 2.2 million.
«This is an increase in numbers and brand awareness – comments Pierpaolo Manes, CEO of Culti Milano -. The data for the first half of 2021 confirm the commercial expansion in South East Asia with the new distribution agreements in India and Thailand. The olfactory branding of Scent Company grows with the reopening on the retail and hospitality front, after the delicate lockdown phase, with a strong evolution especially on foreign markets. Growth also in terms of notoriety, a crucial factor in the skincare segment. We have implemented a strategy aimed at strengthening Bakel’s brand awareness with a communication campaign on the B2B and B2C front, linked to the awareness of the concept of beauty ».