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Chilean Beauty Grows
By: Cristina Kroll
Posted: August 31, 2010, from the September 2010 issue of GCI Magazine.
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Roberto Hlace, president of Issue Group, told GCI magazine that the new president of the company will be Adi Grodej, current president of GCPL, while the vice-president will be Argentine Antonio Cao, current CEO of Issue Group. In addition, GCPL has entered in negotiations to acquire a 100% stake in Argentine company Argencos, which specializes in hair spray products.
Joico Arrives in Argentina
The hair care brand Joico has started commercializing its products in Argentina through distributor Bright Star. Joico entered the Argentine market with its K-Pak line and K-Pak professional products for the care of damaged and chemically treated hair, as well as the Style and Finish styling line and the Color Endure line for hair coloring and preservation.
Locally, Joico will face competition from L’Oréal Professional and Wella. Joico currently owns market share in the U.S., Canada, Europe and Brazil.
Advances in Uruguay Regulation
Ariel Saiz, the secretary of the Uruguayan Chamber of Perfumery, Cosmetics and Toiletries, told GCI magazine, “The elimination of the government tax of 11.5% (called IMESI) on sun protection products, which went in to effect on Jan. 1, 2010, was a huge step in terms of local regulation.”
“The next challenges for the Uruguayan Chamber will be to eliminate the government tax on the rest of cosmetic products in the country, a move that has already been done in Brazil and Argentina,” said Saiz. The beauty industry in the region is working toward integration and functioning with the Uruguayan branch of the Council of Associations of the Latin American Cosmetics Industry (CASIC)—an organization that works toward the harmonization of legislations and elimination of various trade barriers and obstacles, among other objectives, in order to stimulate growth in the beauty sector.