HallStar establishes Brazilian joint venture for personal care
Set up in partnership with Brazilian chemical company, Scandiflex, HallStar do Brasil will bring HallStar’s personal care ingredients to the Brazilian market.
“Brazil is one of the fastest growing personal care markets in the world,” commented HallStar CEO John Paro, adding that the company is confident of the success of its ingredients among formulators, and ultimately consumers, in Brazil.
HallStar’s ingredients are used a wide variety of cosmetics and toiletries including skin care, sun care and hair care products.
Joint ownership of venture
The parties involved will have equal, joint ownership of the new company, with each bringing its own expertise to the venture, it was said in a statement.
According to HallStar, the manufacturing knowledge, distribution network and understanding of the Brazilian personal care market of Scandiflex will compliment HallStar’s vast portfolio and market know-how.
“By combining our expertise, HallStar and Scandiflex are positioning the new company to succeed,” said Scandiflex President, Ronald Riess.
“Consumers want and need better, longer-lasting sun care products for example, and HallStar do Brazil will soon be delivering them,” he added.
Brazilian cosmetics and personal care market
The Brazilian cosmetics and personal care market has enjoyed strong growth over recent years as a result of increased household spend that has come about after several years of economic prosperity.
Additionally, the low cost of manufacturing and a developed infrastructure makes it an attractive target.
According to the Brazilian Association of Toiletries, Perfumes & Cosmetics (Abihpec), the market in Brazil grew at 8.6 percent in 2008 to reach BRL 21.2bn ($8.9bn), a figure that is currently only matched by the Chinese and Indian markets.
