DOVERA, Italy — Cosmetics manufacturing Goliath Intercos SpA inaugurated a new factory in Italy last week — complete with a priest, a mayor and key players from Italy’s beauty industry.
The 322,900-square-foot plant, located in Dovera, north of Milan, is equipped to produce pressed powders and lipsticks and employs 350 workers.
In a speech after a Catholic priest blessed the new factory, Intercos president Dario Ferrari said the ribbon-cutting at Dovera was a moment he had long dreamed about.
“The past 30 years of hard work has allowed me to achieve the result of this new factory,” Ferrari said at the event, “and it really is a milestone for Intercos.”
Dovera’s mayor also praised the company’s new factory, which is located close to Italian perfume giant ITF-ICR. Executives from Italy’s cosmetics association, Unipro, and from several Italian beauty companies attended the ceremony.
Also present at the factory’s opening was Madina Ferrari, wife of Dario Ferrari and creator of her namesake cosmetics line, Madina Milano. Ferrari said she was looking forward to returning to the U.S. in December to oversee further developments on an in-store collaboration with her brand and Victoria’s Secret.
In a press conference before the ceremony, Dario Ferrari outlined the company plan to double sales in the next five years, to start producing skin care and hair care and to develop a very strong Asian presence — especially in China. However, Ferrari said he had no plans for creating fragrances.
“There’s no innovation in putting a lid on a perfume bottle,” Ferrari quipped during a tour of the new factory.
Intercos has targeted revenues of 175 million euros, or $232.3 million at current exchange, for 2005, ahead of a turnover of 160 million euros, or $212.4 million, projected for 2004.
Intercos’ new factory has the capacity for producing 160 million pieces a year, which, Ferrari hopes, will aid the company to increase its bulk capacity in Italy. He said the factory was not at full capacity. Undeveloped space, Ferrari noted, has been left for the possible production and development of hair and skin care products.
Related Articles
The company’s home factory in Agrate, Italy, will remain the innovative leader, he said, for the other Intercos factories based in the U.S., Malaysia and China.
Ferrari said since opening an Intercos plant in China in January, the company had made excellent progress, maintaining made-in-Italy product with 80 percent of costing coming from China.
Intercos production is divided up in the following manner: 40 percent for the mass market, 36 percent for the prestige market, 17 percent for direct sales and 7 percent for speciality stores.
The firm produces cosmetics for 57 companies. The U.S. is Intercos’ biggest market — 45 percent of total product is created for American cosmetics brands.