MILAN — Italian color cosmetics supplier Intercos SpA has signed an agreement with the Percassi Group to sell its Madina Milano business, which includes the Madina Revolution and Madina C brands, plus 20 wholly owned and franchised sales points worldwide.
Terms of the deal were not disclosed.
Percassi Group already owns affordable makeup brand and retailer Kiko, which has rapidly been gaining steam.
“I am happy that Madina has moved to a solid group such as the Percassi Group that was able to create the Kiko chain,” stated Intercos president Dario Ferrari. “This way, we will return to being exclusively producers, abandoning what had started as an experiment and test for our products, which are always on the cutting edge.”
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“We are very satisfied with this acquisition, which confirms the cosmetics sector consolidation that the Percassi Group is successfully pursuing even outside national borders, and of which Kiko was the first step,” continued Massimo Dell’Acqua, general director of the Percassi Group. “We aim to replicate that winning market formula – based on offering a wide range of products with a highly competitive quality-price relationship – by acting promptly on emerging trends.”
Intercos, which has three plants in Italy and eight others internationally, created Madina Milano 17 years ago. Madina Ferrari, wife of Intecos’ chief and the company’s creative director, conceived the brand.