Cosmetic Valley launches Cosvapex project to foster French exports
The 'Cosmetic Valley' is the name of the business cluster comprising the Seine and Loire valleys in France, where a host of perfumery and cosmetics companies are located. The area is home to 800 companies (among them Dior, L'Oréal, Coty and Shiseido), several universities and 226 research laboratories. Expanding on this, Cosmetic Valley has now launched a new project, 'Cosvapex', focusing on logistics, designed to boost the exports of French products.
The project is a collaborative effort in which Cosmetic Valley companies will pool together their logistic resources, to make "the export logistics chain cheaper, faster and more secure" as it works its way through the Seine valley and the port of Le Havre. Currently, each company operates its own logistics organisation, giving rise to inevitable commercial issues.
Cosmetic Valley noted in a press release that the cosmetics sector ranks second among France's export industries, after aeronautics (according to 2012 data). More precisely, 80% of cosmetic products developed in France are exported worldwide. "Every year, our exports are equivalent to 150 Airbus planes or 400 TGVs," stated Marc Antoine Jamet, the President of Cosmetic Valley, referring to the French-manufactured aeroplanes and high-speed trains.
The Cosvapex project will last for 18 months, and will begin in December by assessing the state of play and identifying the specific logistics requirements involved. This will be followed by the implementation of a series of initiatives, notably the safeguarding of the flow of goods and the development of a returns logistics, for example by testing a shared export platform.
The project's total budget is €577,249, 47% of which will by funded by the French government, the Normandy region and the EU.
Copyright © 2021 FashionNetwork.com All rights reserved.