The signing of the deals means that the two trade bodies will help promote business relationships, opportunities and knowledge sharing between both organization’s members.
Beauty Cluster Barcelona comprises over 170 beauty-related businesses, mostly located in the Barcelona area, while ICMAD is a national-based organization focused on supporting independently owned beauty business through the United States.
What the agreement means
To give the agreement impetus, both organizations have created Partnership Committees to help develop initiatives that help meet the agreement’s objectives.
Those initiatives entail a number of future projects that will include networking events, joint research projects, data sharing, market surveys and the establishment corporate social responsibility goals.
The agreement was signed by Chris Hobson, vice chairman of ICMAD and Tim Eaves, president of Beauty Cluster Barcelona, during a co-hosted networking event during the Cosmoprof Bologna, last month.
Combining powerful industry forces
While the Spanish cosmetics and personal care industry has been growing fast in Spain in recent years and playing a bigger influence in the massive European market, particularly with the growing influence of a cluster of businesses in the Barcelona area, the US beauty industry continues to dominate the world, both in terms of production volumes and value.
“Europe and North America account for two thirds of the global beauty market so this partnership makes sense on every level,” said Eaves.
“I am excited about the many opportunities it will open up for the Beauty Cluster and ICMAD, as we work together to promote a sustainable, competitive and responsible cosmetic industry.”