"Milano Beauty Week”: cosmetics protagonist in the Lombard capital from 24 to 29 September

Cosmetics are once again the protagonists of the Lombard capital, with the 2024 edition of the 'Milano beauty week', presented on the morning of September 25th at the Assolombarda headquarters in Milano In presence of Barbara Mazzali, Councillor for Tourism, Territorial Marketing and Fashion of the Lombardy Region, speaking on behalf of the President Fontana.

The event, now in its The third edition, is planned by 24 29 to September, with a rich calendar of events spread throughout the city, starting from iconic places such as Palazzo Giureconsulti and Palazzo Castiglioni.

EXTRAORDINARY 'VISION' –

“Lombard entrepreneurs stand out for their extraordinary vision and capacity to innovate that places them at the forefront on a global level – comments the councilor Mazzali -. Our region is not only the heart of Italian cosmetics, but is among the world leaders thanks to the huge investments in research and development and the ability to anticipate international trends – he adds -. Lombard companies have demonstrated that they know how to export not only products, but above all a unique know-how, which has become synonymous with quality and reliability throughout the world”.
According to the latest available estimates, in fact, the Cosmetics turnover in Lombardy amounts to 9,5 billion euros in 2023, growing in 2024.

INDUSTRIAL ECOSYSTEM –

One aspect that distinguishes Lombardy from other global competitors is the ability to create an innovative and diversified industrial ecosystem. “Our region hosts 76,3% of the national third-party production – he points out Mazzali – demonstrating the flexibility and adaptability of our companies in facing the challenges of a constantly evolving global market. This model, which integrates production on behalf of major brands and the development of their own brands, is a winning formula that makes Lombard companies true protagonists of the market at a global level.”

LOMBARDY ENTREPRENEURSHIP –

“Behind the extraordinary numbers there are visionary people – declared the councilor, recalling the role of Lombard entrepreneurs – who were not afraid to invest in the future and in research. Thanks to them, Lombard cosmetics are synonymous with excellence and innovation. They have been able to build a production system capable of generating not only wealth, but also knowledge and high-quality employment”.

WORLD LEADERS –

“We are proud to be able to say that Lombardy is among the first regions in the world in the field of cosmetics. This – he concluded Mazzali – is the result of the winning combination of innovation, tradition and a vision for the future, embodied by the entrepreneurs we celebrate today.”

COSMETICS IN ITALY –

According to data processed by the Centro Studi di Cosmetica Italia in collaboration with Assolombarda, in 2023 the total turnover of the cosmetics industry in Italy exceeded 15,1 billion euros, up 13,8% compared to 2022. The estimates for 2024 are also positive, with turnover expected to exceed 16,6 billion euros (+ 9,8% on 2023).

If we consider the entire economic system of cosmetics, from the companies that produce cosmetics, to the machinery for production and packaging, to packaging, to raw materials, to distribution, to logistics and retail, the turnover generated is 38,7 billion euros.

The export represents the 46% of the sector's turnover, double compared to twenty years ago. In 2023, exports exceeded 7 billion euros, quadrupling their value in the twenty-year comparison. In particular, the increase of 20,2% compared to 2022 allowed us to reach a record: the cosmetics sector stood out among other manufacturing sectors for the highest growth rate in exports.

These values ​​also had a positive impact on the trade balance which exceeded 4 billion euros.

Compared to 2023 consumption, the data shows that the Italian market has exceeded the quota 12,5 billion with an increase of 9,4% on 2022.

In 2023 alone, the cosmetics system in Italy created a shared value, i.e. wealth for the country, of 28,5 billion euros, equal to1,37% of the GDP of the same year.

The employment impact linked to the cosmetics system in Italy is significantThis is a real multiplier effect that leads to 6,3 additional jobs in the extended supply chain for each employee in the cosmetics industry.
Furthermore, companies dedicate 6,4 billion euros to wages and contributions, giving work to approximately 155.000 employees in the chain from production to distribution. The number of workers rises to 390.000 including professional beauty and hairdressing channels.

The wages paid, when compared to consumption, are equivalent to what is needed to support 220.000 families.

The cosmetics sector is literally driven by science: just think that approximately 6% of the companies' turnover, double the national average, is invested in research and development with the aim of offering products with ever higher standards of quality, safety and innovation. Furthermore, at a European level, there are over 32mila scientists constantly engaged in the research and development of cosmetic products, further demonstrating the importance of scientific research for the sector.

COSMETICS IN LOMBARDIA -

According to the data provided by the Assolombarda Report entitled 'Cosmetics in Lombardy', the production of the Italian cosmetics sector is concentrated almost entirely in North part, where 80% of the companies in the sector are located in seven regions (in particular the 19% in the North-East regions and the 61% in the North West regions).

The numbers clearly highlight the importance of the region for the cosmetics sector throughout the country, both in terms of business structure and turnover.

Lombardy is the region with the highest number of highest density of cosmetic companies: in fact, more than half of the cosmetic companies present in the national territory are concentrated here (54,9%), followed at a distance by Emilia-Romagna (10,5%), Veneto (6,6%), Tuscany (5,9%), Lazio (5,3%) and Piedmont (4,5%).

Even in terms of turnover, Lombardy leads the way with a share equal to 66,2% of the national amount, followed by, with a large gap, Lazio (8,9%), Tuscany (6,8%) and Emilia-Romagna (6,5%).

In 2022 Lombardy achieved a turnover of 8,8 billion euros (+13.3% on an annual basis), two thirds of the entire national amount (equal to 13,3 billion in 2022). Sales on foreign markets contributed to a greater extent to the strong increase in turnover: exports of Lombardy cosmetic products went from 3,7 billion euros in 2021 to 4,4 billion euros in 2022, achieving a +18,6% (vs +8,5% of turnover in the domestic market).

According to the latest available estimates, the turnover of cosmetics in Lombardy is expected exceed 9,5 billion euros in 2023, with continued sustained growth (+8,0% on an annual basis).

In Italian cosmetics, it is worth highlighting the importance of third party companies on the distribution by turnover, particularly high in Lombardia, that is, those companies that produce on behalf of others and without their own brand. The total value of production of companies that produce on behalf of third parties, in fact, is close to 1,8 billion of euros, of which 76,3% concentrated in Lombardy which, with a value of 1,49 billion euros, confirms itself as the region with the highest production vocation of the Italian industrial cosmetics system. The rest of the turnover of third-party companies is concentrated in Veneto (7,2%), Emilia-Romagna (6,7%) and Marche (4,1%).