Cuban cosmetics company targets France
manufacturers, says it plans to expand its reach into global
markets with a new line of natural-based products.
The company, which already distributes a wide range of products in France through Daps Export, says it will add to the range with the launch of its new line, 'Las cosas de mi botica', according to Cuban news agency acn.
The new personal care range, which has been created using natural raw ingredients, focuses on traditional pharmacy-style skin and hair care products that will also be marketed in other key export markets including Venezeula, the Dominican Republic, Panama and Mexico.
The company said that in 2007 it had doubled its revenues, thanks mainly to an increase in the volume of exports to these key markets.
The company, which is a 50-50 joint venture with Spain-based M. Camacho, said its revenues had equalled Cuban Peso 60m (€40.8m) for the full financial year in 2007.
Suchel Camacho is part of the Suchel group, a state-owned company consisting of 14 divisions that account for around 90 per cent of the country's personal care market, which is tightly regulated by the Ministry of Light Industry.
Production of skin care and oral care products for the domestic market continues to be the mainstay of the business, with current annual production totaling 25 million bottles and 10 million tubes of toothpaste.
But it will again be exports that are expected to increase the company's business during 2008.
Fidel Castro, the country's long-time president, has kept a tight control on the domestic sale of personal care products, limiting availability to a range of essential products, including soaps, toothpaste and skin cream.
In an effort to navigate around the limited scope of the domestic market, Suchel Camacho has chosen to focus its expansion efforts on the export market and further export roll outs are expected to follow in 2008.
