Cosmetic firms put out new products in market
With the local economy expected to further expand fueled by the continued flow of remittances and the growth in the outsourcing sector that will help provide for better paying jobs thus higher purchasing power, local and Manila-based cosmetics brand are now aggressively pushing their products in the market.
After posting a 175 percent sales growth last year, local brand GT Cosmetics launched another product line this year still catering to the skin whitening market.
“This is the first in the lotion line called GT Carrot Lotion which is a 4-in-1 treatment as a sunblock, moisturizer, whitener and scar and blemish concealer,” said GT Cosmetics founder and national sales manager engineer Leonora B. Salvane.
GT Cosmetics Inc first opened in Liloan, Cebu in 1994 and in May last year opened their second production plant in Bulacan with an investment of P13 million adding 4,000 units of each GT product line.
Salvane said the growth in capacity was in response to the growing demand in their new and old markets around the country.
Recently, they have been pushing their products in Mindanao and has since gained positive feedback, Salvane said.
Salvane said that they are looking at further expanding their market abroad and in Mindanao adding they are considering to put up another plant in the region.
“Ongoing negotiations are being done for our expansions in Australia, Malaysia, Japan, Singapore, Florida, Finland and Korea,” said Salvane.
“In Mindanao we are looking at the same investment we had in Bulacan which is at P13 million,” said Salvane.
Meanwhile, Manila-based brand Belo Essentials also expanded their product line this year which includes a whitening deodorant and underarm whitening cream in a new packaging.
In an interview last week, Intelligence Skin Care, Inc. marketing manager Lerms Mendoza said they posted double digit growth last year which means the market is still expanding.
“Based on research, we found that one of the main concerns of Filipinos is dark underarms which we hope to address through our new products,” said Mendoza.
Mendoza said they are also looking at further penetrating the Mindanao market through expanded distribution networks./Reporter Aileen Garcia Yap
