Small businesses, mainly headed by women, are growing in the area of wellness, cosmetics and beauty products. In an interview with Listin Diario, the president of the Association of Small and Medium-sized Manufactures of Cosmetics (Apymefac), Dinorah Subero and vice president Julia Jimenez said that last year, exports of beauty products totaled US$57 million. Exports were 63% to the US, 11% to Cuba, 7.7% to Puerto Rico, 7% to Haiti and 4% to Panama. Subero and Jimenez confirmed there is great export potential for the cosmetics. They highlighted how the Cuban market is growing. “The Cubans prefer Dominican products, especially hair products, because of the similarities in climate and the quality,” said Julia Jimenez. The products in most demand are shampoo, rinses, styling cream and hair straightening products.
The executives said that the obstacles to growth are the advance tax on future earnings, electricity costs, insurance, and social security payments. She said that as a result 60% of beauty companies operate in the informal sector. The executives say they try to encourage these companies to formalize their business so they can benefit from exporting, training, selling to the government and other advantages.
Apymefac is organizing the Dominican Cosmetics Fair 2014 at Galeria 360 shopping mall in Santo Domingo on 23-24 September 2014. There will be product exhibitions and suppliers from Brazil, Germany, Colombia and the US will be attending, and there will be talks.
http://www.listindiario.com/economia-and-negocios/2014/8/27/335301/Exportacion-cosmeticos-asciende-a-US57-MM