Asia and Europe to be key markets
The French producer of plant based care cosmetics, Nuxe, has launched a new strategy of international expansion to counter the economic slowdown in Europe. The company currently achieves 65% of its sales in France. It has been expanding but wants to speed up the process.
Sales went up over 20% in 2011 to €114m but Aliza Jabes, Nuxe president, has explained that the challenge now is to secure a secure place for each of the ten leading Nuxe brands in each of the markets served. A special effort is to be made in the Asian region but also in Europe where Jabes says the company is confident of growth despite the current crisis.
Last year growth was some 18%-20% in Belgium, Italy and Germany. The Spanish subsidiary, set up in 2011, has also shown "strong development" and Nuxe is even reporting good growth in Greece.
Products are retailed through pharmacies and parapharmacies and in the natural cosmetics market segment competition has intensified as pharmacists juggle with restricted retail space. Ms Jabes says that pharmacies naturally tend to favour those lines that will generate the highest volume of sales.