The Spanish manufacturer of skin care and hair removal products continues its expansion and has just invested 11 million euros in the construction of a new factory in Puzol, in the Valencia region, Spain.
The new 5,100 square meter facility, which will be officially inaugurated in November, will enable Cosmewax to increase its production capacity of skin care products by 50%.
The new plant will be equipped with “cutting-edge technology” and will meet “the highest standards of quality and sustainability, including a photovoltaic installation for self-consumption of energy.”
Cosmewax said it closed 2023 with a turnover of EUR40 million, a 16.7% increase in revenue compared to the previous year. 98% of the company’s sales are made through exports to foreign customers, including major names of the industry, such as Boots, Superdrug, Rossman, Oriflame or Yves Rocher.
The growth strategy mainly involves expanding the product offering and entering new international markets. “These actions are combined with more effective marketing campaigns and improvements in production processes, allowing to increase the capacity to respond to growing global demand,” added Cosmax in a statement.
Cosmewax’s CSR policy was also awarded a Platinum Medal by EcoVadis, placing it among the top 1% of companies evaluated globally for their level of performance in areas such as environmental impact, labour and human rights, fair business practices, ethics, and sustainable procurement.
