Just last week on 5 October, a collaboration between the Italian Trade Agency (ITA) Bologna Fiere and Cosmetica Italia, with the support of Malaysia External Trade Development Corporation (MATRADE) organized the Cosmoprof Worldwide Bologna Presentation held for the first time in Kuala Lumpur for aspiring business owners and brands wanting to tap in the European market.
This presentation was held prelude to the world’s biggest international trade show for the beauty industry – Cosmoprof Worldwide Bologna 2018, from 15 – 19 March in Bologna, Italy. At the beauty expo is said to have more than 2,500 companies from 69 countries making it the biggest beauty expo in the world. Also attended and witnessing the presentation was H.E. Christiano Maggipinto, Ambassador, Embassy of Italy in Kuala Lumpur together alongside with more than 100 attendees, mostly Malaysian manufacturers and importers. At the presentation, MATRADE also announced that it will look into consideration to build a Malaysia Pavilion at Cosmoprof Worldwide Bologna in 2019 to leverage greater opportunity for Malaysian business to tap the European market through Italy.
The presenters include Mattia Miglio, International Marketing Manager of COSMOPROF,
Abu Bakar Yusof, Director of Lifestyle, Life Science & Medical Devices and Pharmaceutical Section, MATRADE and Mawarni Hassan, Federation of Malaysian Manufacturers and was valuable for the beauty industry, professionals and trade businesses to promote the export and import of cosmetics and beauty products.
It provided an analysis of the characteristics and changes in distribution channels and
consumer needs, giving businesses wanting to expand to the European market and
worldwide, as well as building a better understanding of the international market.
1. Italian exports of cosmetics to Malaysia amounted to EUR 8.1 million in 2016, making
Malaysia the 57th largest importer of Italian cosmetics (out of 177 countries considered by the Italian National Institute for Statistics).
2. In particular relevance are the Italian exports of perfumes, which in 2016 registered a growth of 5% compared to 2015 and amounted to 35% of the total value of Italian exports of cosmetics to Malaysia, with brands like Prada, Versace and Bulgari.
3. Moreover, in 2016, imports of cosmetics from Malaysia reached EUR 1.6 million, with 326% increase compared to 2015 which strengthened the already sizeable trade between
the two countries in the sector and made Italy a more important destination of Malaysian cosmetic products.
More info, visit www.cosmoprof.com