French cosmetics cluster Cosmetic Valley has launched a new program aimed at supporting the launch of small- and medium-sized businesses in international markets.
The program, called the Global Cosmetics Cluster-Europe, was launched in response to growing competition from new players in the international beauty market, especially from Asia, notes Cosmetic Valley. For example, Korea’s beauty export sales increased 16% year-over-year in 2020, while Japan’s exports rose 16.1%, according to French beauty association La Fédération des Entreprises de la Beauté (FEBEA). Meanwhile, France’s beauty exports’ sales fell 11.8% year-over-year in 2020.
The program offers businesses resources to help them launch in new countries, with a focus on five target markets: South Korea, the US, United Arab Emirates (UAE), India and Mexico.
The program is two years long (ending in August 2022) and consists of four components: Market knowledge; skills training in areas such as, international awareness and coaching and export; business partnership and development and funding.
Participants will also receive mentoring and access to Peer2Business, a platform that allows European small- and medium-sized businesses share their experiences. Some 18 businesses have already participated in the platform.
The Global Cosmetics Cluster-Europe brings together six cosmetic clusters: AEBB – Associaçao Empresarial Régiao Beira Baixa (Portugal), Beauty Cluster Barcelona (Spain), Transylvania Lifestyle Cluster (Romania), Polo della cosmesi (Italy) and IKMIB (Turkey) and Cosmetic Valley (France). The program also has the support of the COSME program from the European Commission which supports small- and medium-sized businesses’ international expansion.
It also pools resources and expertise from European trade organizations, such as European Strategic Cluster Partnership, AgriWasteValue and InnCoCells.