America grew by 16.9% to 216.2 million, proving to be the market whose post-pandemic recovery was more lively than in other areas of the world, especially as regards the USA, a market in which the group is most active. present. Asia closed at 130.6 million, up 36.2% thanks to the performance of the quarter of the year (+ 15.6%), when Intercos Korea in 2020 was already fully consolidated.
«We are satisfied with the year that has just ended – comments Renato Semerari, CEO of Intercos -. The year of listing of our group was a two-sided year: the first, marked by the gradual post-pandemic recovery, the second characterized by the complex management of supply sources, both from the point of view of availability and pricing of materials. In this context, Intercos managed to achieve the expected results both from an economic and financial point of view. The market in 2021 showed good growth in all the beauty segments, with skincare and hair & body back to higher levels than the pre-pandemic ones. The make-up segment, on the other hand, was unable to return to historical levels, due to the numerous restrictions that once again characterized the year ».
However, the CEO adds, “Despite this dynamic, the ability to innovate and the diversification of our group in terms of products, customers and geographical areas, has allowed us to achieve double-digit growth and particularly positive performance of the skincare business unit and of the markets. China and the USA. These results comfort us on the validity of the medium-term strategies. The uniqueness of our business model, supported by a constant propensity for innovation, allows us to be the only international reality in the reference market for Odm (Original Design Manufacturers “) with a global vocation, capable of serving almost all segments of beauty by continuing to consolidate, among other things, our position as a world leader in make-up with more than 10% market share. We will continue to strengthen this position and continue growth in the skincare and hair & body segment, with the latter which, acquired in 2017, will progressively benefit from innovation in processes and formulations, thus aligning itself with the characteristic business model of Intercos. Finally, expansion in the US and Asia will continue, as demonstrated also by the recent acquisition of the factory in India at the end of the year and which will allow us to increase access to new markets ».
And he concludes: “Despite the numerous uncertainties that are characterizing the whole world, first of all those relating to the evolution of the cost of raw materials and energy, whose duration is also unknown due to recent geo-political tensions, the beauty market is expected to grow well in 2022, with the make-up segment expected to exceed pre-pandemic levels. Furthermore, outsourced cosmetics, the reference market of our group, will continue to benefit from the increase in production capacity required by the main international brands in the sector, from the continuous increase in product complexity thanks to the increase in innovation required by the market, and from the ‘further affirmation in the global competitive scenario of emerging brands. Expectations relating to the market as a whole, together with the effectiveness of the strategies implemented by Intercos, are confirmed by the current trend in order entry, currently in constant and robust growth ».
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