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WKN: A2PQSS ISIN: ES0105118006 Ticker-Symbol: 4VP 
Frankfurt
17.06.21
09:16 Uhr
25,200 Euro
0,000
0,00 %
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QUADPACK INDUSTRIES SA Chart 1 Jahr
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25,40026,00017.06.
Actusnews Wire
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QUADPACK: Quadpack sets its sights on China with Yuga partnership

QLine packaging range to meet demand for 'Made in Europe' solutions by major Chinese beauty brands

The growth of the Chinese cosmetics industry has prompted international beauty packaging manufacturer and provider Quadpack to commence a commercial push into the domestic market. An agreement with long-term partner Yuga, based near Shanghai, will allow Quadpack to offer its QLine range to brands seeking the quality, performance and distinction of products 'Made in Europe'.

The move into China is part of Quadpack's 2020-2025 business strategy, which sets out growth plans in each of its key territories of EMEA, the Americas and the Asia-Pacific region. It follows last year's opening of a sales office in Japan and the appointment of Raj Savji as Managing Director - Asia Pacific, to develop Quadpack's presence in the region.

"China's domestic beauty market is worth €52.5 billion and growing fast. What's more, it has shown itself to be incredibly resilient. Since the outbreak of COVID-19 and the subsequent downturn, China has been the first to recover. The market is mature and our products are a great fit. We are fortunate to be able to build on our partnership with Yuga - a relationship based on high levels of trust, shared values and proven results - to accelerate our entry into this market," said Savji.

Beauty packaging manufacturer Yuga has been an official supply partner for Quadpack since 2010 and produces a number of QLine references, as well as bespoke projects. Now, Yuga's commercial team will sell the QLine portfolio in its home territory, starting with the skincare and make-up ranges, as well as solutions in wood and Sulapac®, an eco-safe biocomposite material.

QLine is Quadpack's portfolio of smart, modular packaging solutions, conceived, designed and engineered in Europe. The products are made at its Louvrette factory in Germany and the Quadpack Wood factory in Spain, as well as at the facilities of selected regional partners like Yuga. With Yuga's industrial capacity, components can be stocked, assembled and decorated locally. This inherent flexibility of manufacture and supply allows Quadpack to remain agile and deliver solutions in the region, for the region.

Yuga CEO Victor Wu said: "It's a case of one plus one equalling greater than two. Just as Quadpack has extended our reach globally, our facilities can support Quadpack's growth. We also have 20 years of experience and a strong network in China and we are excited to introduce the QLine portfolio to local brands. The larger brands are going global and looking for high-end packaging solutions, particularly in the skincare segment. Those that are of European origin are sought-after commodities."

Yuga has started promoting the QLine make-up range and will extend to skincare from April.

-ENDS-

Editors' notes:
Quadpack is Sulapac's Preferred Global Cosmetics Packaging Partner.


About Yuga
Yuga Group is a manufacturer and provider of packaging solutions for cosmetics companies. Established in 2003 and headquartered in Suzhou City, China, the company has a national sales network and four factories (located in Eastern and Southern China) dedicated to injection moulding and aluminium processing. 'Crafting for Beauty' is Yuga's slogan, as it has a craftmanship spirit putting quality as one of its top priorities when it comes to R&D and manufacturing. For more information, please visit www.yuga-tech.com

About Quadpack
Quadpack is an international manufacturer and provider of enhanced packaging solutions for beauty brand owners and contract fillers. With offices and production facilities in Europe, the US and the Asia Pacific region, and a strategic network of manufacturing partners, Quadpack develops bespoke and customised packs for prestige, masstige and mass market customers. Listed on Euronext Growth in Paris since October 2019, Quadpack relies on a workforce of 600 people to build a more sustainable world. For more information, please visit www.quadpack.com

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