UBM India to launch Cosmoprof India with Bologna Fiere
The international beauty trade show Cosmoprof will take place in India for the first time this September as India’s beauty market is expected to keep growing.
Cosmoprof’s organisers, Bologna Fiere and UBM India are collaborating to launch the Cosmoprof trade show in India. The event will include a buyer programme by Cosmoprof Worldwide Bologna and business to business meetings between companies, distributors, buyers, importers, and suppliers from India, the United Arab Emirates, and South East Asia.
The trade show, which also takes place in Bologna in Italy, Las Vegas, and Hong Kong, will be held in Mumbai from September 10 to 11. Although the official list of exhibitors has not yet been released, it is expected that many international beauty brands will attend. The number of international brands entering the Indian beauty market is swiftly on the rise. E-commerce sites that specialise in makeup such as Nykaa and Purplle has brought a host of brands to India in the past year alone including Huda Beauty, Estée Lauder, Moda, and Vipera. The new Union Budget has doubled import tax on many cosmetics items which could put a dampener on growth but, so far, the number of brands launching in India has not slowed down.
The Managing Director of UBM India, Yogesh Mudras, recently commented on the industry when speaking to reporters and said: "The Indian cosmeceutical and cosmetics industry has an overall market standing of USD 6.5 billion from a global market of USD 274 billion. It is expected to grow to USD 20 billion by 2015 at a compounded rate of 25 percent." With such impressive growth predicted, it is not surprising that Bologna Fiere decided to bring Cosmoprof to India.
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