Lucas Meyer Cosmetics secures compliancy for four more ingredients in China, targets Asian expansion
The move means that Superox-C – a topical ingredient derived from Kakadu Plum, Riboxyl – a corn-derived ingredient targeting skin elasticity, Liftessence – an anti-wrinkle solution derived from tree fern and Sveltessence – a Longana seed derived formula targeting inflammation of the adipose tissue, are all ready to be rolled out in China.
“The focus on Asia Pacific region has been a priority for Lucas Meyer Cosmetics for several years. And in turn, investments in developing the business have been made over the years,” said Isabelle Lacasse, marketing director at Lucas Meyer Cosmetics.
“First we established a network which is now more than 14 distributors, and last year we opened a regional sales office in Singapore to better cover this market. Of course, China is the biggest market because it has one of the fastest growth rates.”
Regulation in China differs from region to region
China is not only a fast-developing market but it is also highly diverse with respect to regulatory and testing requirements, as authorities in different regions make different requirements for compliancy.
It is also quite specific with respect to the types of topical formulations that consumers require, with Lacasse stating the fact that the light white textures which are popular in the country are also within the company’s competencies thanks to its strong offering in emulsifying systems.
Need for highly innovative products
“China compliance is one of the key elements in our innovation strategy. We don’t want to compromise on the innovation, but as China is a growing market it is important to come up with very innovative products and compliant at the same time,” said Lacasse.
“It is a challenge for our R&D team, but at the same time it forces us to be even more creative. And if it was easy, everybody would do it!”
As part of plans to continue its drive for growth within the China market, the company is currently looking to hire a regional sales manager based in Shanghai, who will be looking to develop business in this vital region for the cosmetics industry.
Further plans also exist to extend the company’s footprint in the Asia Pacific region, with Lacasse pointing to an increase sales force in fast-growing markets such as Indonesia, backed by further plans to increase investment during the period 2015 – 2017.