Taking the Fight to Self-Proclaimed Miracle Products

Although the use of cosmetics in Mexico falls behind that of other major Latin American economies, the country exports more cosmetics than any other country in the region. To address the limited use of said products, it is necessary to first overcome self-proclaimed miracle products and low-quality, informal products, says Miguel Marín, CEO of Industrias Sintoquim.

“Mexico has a mature cosmetics market that continues growing, but is still behind Brazil, Argentina and Chile in use per capita. We want the Mexican consumer to shift toward the use of cosmetics at a health, preventive treatment and dermatological level,” Marín says. Sintoquim specializes in the commercialization of raw materials and specialties for the cosmetics industry, with a track record extending well over 40 years. “When it comes to cosmetics, we strive to continuously look for innovation and process renovation, while identifying and analyzing different trends and possibilities,” says Marín. The company made its mark through in-house manufacturing of cosmetics ingredients and changed its business model to introduce top-quality ingredients at competitive prices. “We do not sell ingredients only, we sell solutions.

Sintoquim’s future is not limited to profitability objectives. “We want to revamp our operational system, generate more business intelligence for improved decision-making and craft a stronger talent development plan with clearly outlined and value-adding training processes. When talking sales, we want to grow our numbers by 20 percent for 2018, and at least duplicate those numbers by 2023.”