……Showcases Ivory Beauty Soaps
Major player in the global skincare, beauty and cosmetic value chain ; GIVANAS COSMETICS is participating in the ongoing Beauty West Africa Exhibition at the LandMark Centre in Victoria Island, Lagos.
With its stand exquisitely and strategically positioned at the major hall of the event centre, the company is seizing the golden opportunity to unveil its market leading IVORY Beauty Soaps and other skincare products.
The company is also using the three- day exhibition as a reach out platform to clients , partners and industry players who are already familiar with its top of the range brands.
Speaking in an interview, GIVANAS COSMETICS , Sales Manager , in Nigeria, Ali Roz, said the skincare and bodycare giant is excited to participate in the exhibition to reaffirm the acceptance of its products in the Nigerian market and beyond.
Roz said the company which has already set its footprints in the Nigerian scene is open to partnerships that will enable it to dominate the market.
He said : ” We are excited as a company to participate in Beauty West Africa, an opportunity for the beauty and cosmetic sector of West Africa to come together , network, forge new opportunities, discuss best practices and of course do business.
Givanas Cosmetics is a research driven cosmetic manufacturing company. Our innovative product lines are proven to deliver superior results while maintaining the highest standards of quality. Developed by Personal Care Professionals, our products are designed to target the most challenging market concerns – quality and affordability.
Givanas Cosmetics has invested well on the improvement and continuous development of its products. It intends not only for a competitive advantage in the market, but also in providing the best, effective and advanced collection of Personal Care products – all to give the consumer the finest satisfaction they can get. With a professional and skilled workforce, coupled with continuous research and development, the company will stay at the forefront of innovation in a rapidly changing market.
Its Product Categories include :
PERFUMES
BODY MIST
PETROLEUM JELLY
POWDER
BODY CREAM
Meanwhile, Experts in the beauty, cosmetic and skincare value chain have identified partnership, promotion of locally produced products and exchange of ideas among players as part of the strategies needed to deepen participation and growth of Nigeria’s sector valued at over N1 trillion.
Besides, they said improvement in product standards, adherence to global practices and other conditions precedent to scale up expansion of the industry.
Speaking at the opening of Beauty West Africa Trade Exhibition in Lagos, yesterday, its organizer and Managing Director of B2B Events, Mr. Jamie Hill described the event as a global platform for manufacturers, retailers , distributors and others to interact for business expansion.
Being the largest beauty exhibition in Africa, Hill said players in the global sector used it to leverage networks for business expansion thereby contributing to the gross domestic products of their respective countries.
The Trade Exhibition , he noted, has created a huge avenue to promote export of Nigerian products within West Africa and other countries.
He said the trade exhibition offered opportunities for producers of Nigerian skincare products to showcase it to the world and exchange ideas with other global players on the strategies needed to scale up contributions to economic development .
Hill said : ” From the footfalls at the exhibition so far, players across the globe have registered and over 220 companies across the continents have displayed their brands. Significantly, buyers and sellers post Pandemic are now pushing their businesses to drive the growth of the economy. The players are now open to new ideas to help in growing Nigeria’s beauty and cosmetic industry valued over six trillion naira since last year.
” Such a huge market with potential for growth needs to be serviced . Exhibitions are fundamental to economic growth across the globe. Such meetings with buyers and sellers provide avenues for partnerships, knowledge sharing and good business. This will give us an opportunity to examine what the markets demand and follow up on it.”
Speaking in an interview, Manager Imports & Exports , Golden Pearl Cosmetics Limited, Asim Israr said the company was making inroads into the Nigerian market with its array of products .
Describing it as a huge frontier market, he said the company will latch on a range of products and pricing to harvest significant gains.
Also speaking, Sales Manager, GIVANAS Cosmetics , Ali Roz said , the company will continue to leverage the size of the market to make its products acceptable.
In his remarks, Chief Executive Officer, Cosmopro PVT Limited, Nadeem Akhtar said the company was engaging regulatory bodies to secure approval for inroads into the Nigerian market for skincare products.
The company, he said, was also looking at retailing its products including surface cleaners.
In Nigeria, the sector recorded a turnover of N1. 034 trillion in the year with mass beauty/personal care controlling 45.5 per cent or N470 billion in absolute figures. Skincare followed with N128 billion. Hair care, deodorants and bath/shower also recorded outstanding performance pooling between N70 and N100 billion in turnover.
Revenue in the Beauty Care segment is projected to reach $85.22 million in 2022.
Revenue is expected to show an annual growth rate (CAGR 2022-2027) of 15.23 percent , resulting in a projected market volume of $173.10 million by 2027.
With a projected market volume of S$14,100.00 million in 2022, most revenue is generated in the United States.
In the Beauty Care segment, the number of users is expected to amount to 37.9 million users by 2027.
User penetration will be 9.9 percent in 2022 and is expected to hit 15.5 percent by 2027.
The average revenue per user (ARPU) is expected to amount to $3.99 million.
