- The biotechnology company closes new distribution agreements in India, Argentina, Paraguay, and Uruguay
- The new agreements represent access to a potential cosmetic market of €17,296M.
Vytrus Biotech, the company specialized in active ingredients derived from plant stem cells for the cosmetic industry, officially announces two new distribution agreements to commercialize its ingredient portfolio in India, Argentina, Paraguay, and Uruguay.
The biotech company has opted for the Indian territory to break into the cosmetic sector with its plant stem cell technology. India represents a great business opportunity for Vytrus, assuming access to a market of nearly € 12 billion in 2018 according to ICEX Spain Export and Investments, with a forecast growth of 10% per year because of the growth of population size, translating into a greater number of consumers.
This agreement has been signed with Nano Tech Chemical Brothers, a fresh and young company with strong digital initiatives, such as the recent launch of its informative app “Chemical Brothers - Personal Care”, where they offer their portfolio of ingredients with the possibility of filtering to optimally adapt to the needs of each consumer. They have also incorporated Dermasist, an independent applications laboratory and customer service center that focus its work on prototyping and custom formulations, solving problems, innovating new concepts, and helping startups develop their brands and products.
“The Indian agreement means to have access to one of the emerging economies in the world with most potential. The Indian market is opening up to new concepts and a technology like Vytrus fits in due to its sustainability and its approach based on plant-origin actives”, says Daniel Robustillo, Business Manager of Vytrus.
The Latin American market is also a great step forward in the international expansion of the firm. Therefore, Vytrus has closed an agreement with Grupo Blumos for the distribution of the product pipeline in Argentina, Paraguay, and Uruguay. Grupo Blumos, after more than 70 years of experience, is positioned as a regional reference in LATAM for any project that seeks intelligent and quality solutions focused on the nutrition, health, and industry markets. The group's passion for innovation and its commitment to the environment, values shared with Vytrus, allow a powerful strategic alignment to impact new markets.
This new distribution agreement implies accessing some markets that are a great opportunity for the development of the biotechnology business, with potential sales in the field of personal care of more than € 5,3 billion.
According to Daniel Robustillo, "Argentina is a relevant cosmetic market to consider and is aligned with the profile that Vytrus seeks for the international expansion of its pipeline, in addition to opening potential opportunities for the pharmaceutical market in the future."
In this way, Vytrus Biotech adds 4 new countries to its global distribution network, adding a total presence in more than 54 countries, which account for 70% of the company's sales, in line with its internationalization strategy.