AAK Personal Care has signed a sole distributor agreement with ABA Mexico S.A. de C. V. The choice of ABA to distribute AAK's ingredients was due, in part, to the shared specialty of bioactives and functional ingredients.
ABA was established in 1996 in Cuernavaca, Mexico, 85 km south of Mexico City. Their core business is to import and distribute bioactives and other raw materials for the cosmetic industry in Mexico. ABA is in contact with a number of main Mexican cosmetic manufacturers.
The Mexican cosmetic industry amounts to approximately US$9 billion per year, which ranks as the second largest in Latin America (after Brazil). In 2013, market growth was 5%, and this year's forecast is at the same level.
“Our goal is to gain market share in Mexico. Right now we are in the planning phase of several activities together with ABA in the autumn”, says Minna Dam, global director at AAK Personal Care.
ABA Mexico is AAK Personal Care’s second new distributor in 2014. Earlier this year, the cooperation with Anshul Life Sciences for distribution in India was announced.