In a major expansion of their capacities, Lebanese industrial conglomerate, Malia Holding, last month inaugurated a new manufacturing plant for its Cosmaline subsidiary. The new factory represents a $13 million investment and marks the fourth enlargement of production capacities in the company’s 50-year history.
Cosmaline evolved from a maker of beauty products under license from foreign manufacturers into a major Middle Eastern producer of hair and skin care products, insecticides and detergents. The firm maintains a research and development department and successfully brought several in-house developed brands to market.
With the increase of their facilities from 9,000 to 16,000 square meters, the 2004 Cosmaline expansion is geared especially towards exports to Europe, Malia chairman Jacques Sarraf told Executive. Deliveries already go to Cyprus, Greece and Russia and the manufacturer is in discussions over entering the French, Benelux, German and Turkish markets, he said.
Coincidental to the Cosmaline plant inauguration, October also saw the first market action by Malia subsidiary, Euroline, a fashion retail company. Under the rationale of diversifying the Malia Holding activities beyond health and beauty products, Euroline partnered with the Eid family in setting up a boutique for upscale Italian clothing brand Paul & Shark in downtown Beirut.
Paul & Shark products had been previously sold in Lebanon through Eid stores but the joint venture aims for a higher penetration of the market for glamorous high-tech sportswear with a maritime flavor. In addition to the downtown boutique, further Paul & Shark stores are in the pipeline for Lebanon. However, Euroline also has ambitions of bringing the business with Paul & Shark to Syria and even take it to Iraq, said Sarraf.
