Gotha Cosmetics has purchased a majority stake in iColor Group, a China-based cosmetic formulation and filling company.
 
The acquisition marks a key milestone in the international expansion of Gotha, which was established in Italy in 2005.
 
“Thanks to this acquisition Gotha Cosmetics will strengthen its global footprint and production capacity entering the Asian—and specifically Chinese—markets, which are experiencing a solid and stable growth,” said Gotha Cosmetics’ chief executive officer Paolo Valsecchi. “The initial focus will be the expansion in the local market by keeping the current iColor set up and leveraging our Italian expertise in cosmetics.”
 
The deal will enable Gotha to accelerate its growth via local brands in China, as well as to support its current client portfolio in expanding in Asia through local production.
 
Already established in the U.S. and the Europe, Middle East and Africa region, Gotha Cosmetics is known for its emulsions as well as innovation in liquid lip products. The manufacturer is also focused on developing hybrid solutions that can bridge the gap between color cosmetics and skincare.
 
iColor Group provides skincare and makeup formulations, product development and filling solutions to local and international brands. The company owns two production facilities based in Suzhou and Shanghai, covering a total surface of more than 430,556 square feet. Both facilities are equipped with technology and machinery processing a variety of product categories within emulsions, powders and anhydrous, as well as integrating R&D with the production and filling departments.