Intercos has recently finalized a new commercial agreement with The Estée Lauder Companies. With this agreement, the Estée Lauder Companies decided to outsource most of the production of cosmetic powders to the United States, entrusting Intercos America Inc. with the manufacturing process.
Intercos stated that this agreement solidifies the long-standing strategic alliance between The Estée Lauder Companies and Intercos, which spans over 40 years. It reaffirms Intercos’ dominant position in the cosmetic powders market, emphasizing its expertise and ongoing investment in innovation within this product category.
Established in 1972 by Dario Ferrari, Intercos boasts a client roster that includes leading cosmetics brands. The company employs around 6,400 personnel and operates 11 research hubs, 16 manufacturing sites, and 16 sales offices spread across three continents.
In 2023, Intercos reported a net sales figure of €988.2 million, with a consolidated net profit of €52.4 million, marking a significant growth of 16.5% compared to the previous year.
Across its segments, the makeup category saw sales of €599.4 million, indicating a 9.5% growth, while skincare experienced a notable surge, reaching €157.5 million, a remarkable increase of 20.4%. The hair and body segment achieved sales of €231.3 million, showing impressive growth of 47%.
The Asian market contributed substantially to Intercos’ performance, with revenues reaching €170.5 million, reflecting a growth rate of 18.7% compared to 2022. China, in particular, demonstrated strong performance in the fourth quarter, buoyed by local brands.
During the earnings conference, Intercos highlighted the significant contribution of the Chinese market to its overall success in 2023. It emphasized China’s robust performance in the fourth quarter, achieving double-digit growth, largely driven by the success of its local brands, many of which are serviced through the company’s various subsidiaries in the region.
