The Italian contract manufacturer acquires iColor Group in China

Lallio (Italy) and Baar (Switzerland), March 16, 2022

Gotha Cosmetics, leading Italian contract manufacturer in the color cosmetic space, enters the Chinese market, enhancing its already strong and growing international presence in the beauty industry, through a majority investment in iColor Group, a cosmetic formulation and filling company based in China.

iColor - a one-stop cosmetics manufacturer
iColor was founded by a Chinese Entrepreneur Mr. Johnson Shan, well known in the industry with a successful past in the packaging area. iColor Group provides skincare and make up formulations, product development and filling solutions to local and international brands. The company owns two production facilities based in Suzhou and Shanghai, with more than 40,000 sqm covered surface.
Both facilities are equipped with advanced technologies and machineries enabling it to process a wide variety of product categories within emulsions, powders and anhydrous cosmetics. The sites integrate R&D, production and filling departments.

Gotha strengthens its global footprint
Gotha is a leading Italian contract manufacturer in the color cosmetic space located close to Milan. Founded only in 2005, Gotha has seen consistent growth and built up strong credibility in formulation and accountability in delivering the best service to its clients.
The company has solid business background in the US and EMEA region and provides strong product solutions in emulsions, delivering face products that have shaped the cosmetic industry, as well as breakthrough innovation in liquid lipstick.
The success of the company has been driven by strong commitment in delivering make-up performance in hybrid solutions that can easily bridge the skincare features and benefits.

This transaction enables Gotha to accelerate its growth with local brands in China as well as to support its current client portfolio in its expansion into Asia through local production. Turnkey solutions are also in scope to increase competitivity and speed.

"Thanks to this acquisition Gotha Cosmetics will strengthen its global footprint and production capacity entering the Asian and specifically Chinese markets, which are experiencing a solid and stable growth. We think that the timing for this transaction is perfect and iColor is the right partner to serve those markets and deliver excellent products and services. Initial focus will be the local market expansion, keeping the current iColor set-up and meanwhile leveraging our Italian expertise in cosmetics".
Paolo Valsecchi, CEO of Gotha Group

Corporate Contacts

About Gotha Cosmetics

Gotha Cosmetics is a contract manufacturer in colour cosmetics that achieved rapid growth since its creation in 2005, as a spin-off of a high-end skincare company. Today Gotha is the partner of the most innovative, fastest growing beauty brands worldwide, the company has commercial teams based in Paris for Emea Region and in west and east coast for the US one.

About Capvis

Capvis is one of the leading private equity companies in Europe. Capvis AG, exclusive advisor to the Capvis funds, mainly acquires majority stakes in leading medium-sized companies. The aim is to support management teams in unleashing entrepreneurial potential and achieving new levels of excellence. Capvis focuses on regional champions in local markets and global niche market leaders in the Industry & Technology and Advanced Services sectors. Since 1990, Capvis has completed 61 transactions with a total invested capital of more than EUR 3.5 billion. Capvis has listed ten companies on the stock exchange and has repeatedly been voted Switzerland's best private equity firm by the international press.