Italian cosmetics company Mei is planning to expand to the Middle East.
The Treviso-based company, which has a widespread presence in several European wellness destinations, including Austria, Switzerland, Germany and Portugal, is betting on foreign countries “as a business growth lever,” CEO of Mei Roberto Paladin told FashionNetwork.com.
“Overseas today weighs 40 per cent of the company’s business. We are banking on the restart of many markets that remained stationary after the covid crisis. In North America we collaborate with a number of clinics that have embraced our concept and this spring will finish the first training course.”
Finally, the private label division, relegated until now to a mere collateral service for partner companies, is taking flight. “Last year, for the first time, we worked with clients only in this segment. There is a strong search for quality also in the courtesy lines and amenities, with a new focus on eco-sustainability in this type of product that until 3-4 years ago was considered almost a kind of gadget”, said Mr Paladin.
Mei’s new products debuted at the latest edition of Cosmoprof in Bologna – a series of beauty and cosmetics trade shows that have been in existence since 1967 and draw 2,300 exhibitors from seventy countries.
Mei’s offerings include body care cosmetics, pure essential oils, supplements, herbal teas & infusions, room fragrances and essences for saunas and steam baths, obtained from wild plants.
According to Roncucci & Partners marketing report, the demand for made-in-Italy cosmetics in the Middle East is flourishing, with sales jumping by 37.2 per cent in 2021. The trend is attributed to growing consumer awareness of environmental issues.
The global cosmetics industry is projected to reach $463.5 billion by 2027, as revealed by Allied Market Research, with skincare and clean beauty being the fastest-growing segments.
In the Mena region, the cosmetics skincare market was valued at $4.67 billion in 2020 and is expected to grow to $5.05 billion by the end of this year, before surpassing $6 billion in 2024, according to Statista.
