We're in Lombardy's beauty hub, also known as the Cosmetic Beauty Valley. The region spanning the provinces of Monza and Brianza, Cremona, Bergamo and Milan has the highest density of businesses in the industry, with revenues of nearly €12 billion – about two-thirds of the total beauty sector.
Over 67% of the makeup used in Europe is made by Italian firms, which employ 36,000 people directly and around 400,000 when considering the whole supply chain.
CDP has granted €5 million in finance to Art Cosmetics, a Bergamo-based firm that was established in 1990 to make lipsticks and is now one of the most inventive firms in the contract production of make-up and skincare.
The company currently employs over 600 people, serves over 300 clients globally, and makes revenues of €105 million, with 85% of it earned overseas. The strategy to go global started in 2001 by setting up sales offices in New York, Seoul, London, Paris, and Shanghai to better serve its clients.
Art Cosmetics does not sell directly to consumers. Instead, it makes products for top makeup and skincare brands. It caters to all types of companies, from new brands to mass market and luxury sectors. It's highly flexible and strongly focused on product innovation.