Bell International Labs operates a contract manufacturing business and R&D labs for hair care, cosmetics, and the nutrition industry. And the anticipated 60% revenue increase will see the company bring in over $35m, according to the Star Tribune.
Company CEO and industrial chemist Mo Saremi founded Bell International in 1996 after years of work with other companies. Sales, he believes, are set to rise too as name-brand beauty products that Bell makes are in high demand, namely “spray-on and organic sun care and tanning products,” according to the Tribune.
Sales this year will likely rise to $50m, a 40% increase. While, the new headquarters, labs, and manufacturing facility will cost the company about $10m and comprise 120,000 square feet. The local economy will see its own gains from the project: as many as 50 new employees will be hired to work at Bell International in 2017.
Sun care rising
As consumers continue to seek out beauty and personal care products that help prevent aging and sun damage, brands are capitalizing on the opportunity. Recent data from market researcher The NDP Group shows that color cosmetics, skin care, and sunscreen with higher levels of SPF are selling well.
Explaining the market shift further, NDP global beauty industry analyst Karen Grant observes that “for more than a decade, all the news in skincare was about serums and technology, but today the focus has shifted to cleaner, simpler, and lighter products. The growth in products with higher SPF ties into today’s mindset and is connected to other emerging care formats including oil, water, milk, and clay.”