NEW INITIATIVES BY THE INTERNATIONAL NETWORK OF COSMOPROF WORLDWIDE BOLOGNA (ITALY)

PRESENTED BY THE ITALIAN TRADE AGENCY IN SUPPORT OF MALAYSIA EXTERNAL TRADE DEVELOPMENT CORPORATION (MATRADE) 

The Italian Trade Agency (ITA) in collaboration with Bologna Fiere and Cosmetica Italia, with the support of Malaysia External Trade Development Corporation (MATRADE) recently organized the Cosmoprof Worldwide Bologna Presentation held for the first time in Kuala Lumpur. 
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. 

“Cosmoprof Worldwide Bologna is the only exhibition in the world where more than 2,500 companies coming from 69 countries and 250,000 professionals of the beauty industry develop new business relationships. The show collects the beauty industry under one roof, and the international appeal of this exhibition is recognized by the whole beauty industry. We are glad to have the support from MATRADE in this presentation,” said Dr Samuel Porsia, Italian Trade Commissioner of Kuala Lumpur during his opening remarks. 
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. 

“Following a process started in the past editions, Cosmoprof Worldwide Bologna 2018 will continue its evolution to a “tailor-made” event, thanks to a clearer diversification for areas and initiatives according to the professional profile of our visitors. Exports to Europe and issues on taxes are also dealt with for smooth operation,” said Mattia during his presentation to guests and members of the media. 

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). 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 Bvlgari. 

Moreover, in 2016, imports of cosmetics from Malaysia reached EUR 1.6 million, with a 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. 


ABOUT COSMOPROF 

The 51st edition of Cosmoprof Worldwide Bologna will take place in Bologna, Italy from 15 – 19 March 2018 at the BolognaFiere exhibition. Cosmoprof Worldwide Bologna represents all the segments of the beauty industry: perfumery and cosmetics, machinery, raw materials, packaging, contract manufacturing, aesthetics, hair care, nail, wellness and fitness. 

At Cosmoprof Worldwide Bologna 2018, companies are able to create new acquisitions, strategic alliances in the international market, and keeping up-to-date on new trends and innovative ideas. Vast numbers of exhibitors, visitors and buyers from overseas are turning this event, year after year, into a proper international “hub” where professionals and decision makers meet to develop their business. Cosmoprof is not only in Bologna, but also in Las Vegas, Hong Kong and, from 2018, Mumbai. Cosmoprof has signed joint venture agreements with international organisations to create new top-level trade fairs throughout the world, testament to the company’s internationalisation strategy: Cosmoprof Worldwide Bologna, Cosmoprof Asia (Hong Kong), Cosmoprof North America (Las Vegas) and Cosmoprof India (Mumbai). 

The Cosmoprof network today is a huge global community, made of: 
• 6,600 beauty companies from 160 countries 
• Over 360,000 professionals from all over the world 
• $70 million of total revenues in 2016


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