Growth Management Among the Retail Market
Chile's high competition within makeup and feminine personal care retail demands creative strategies; Petrizzio has relied on its own genius to make way in the market and clear margins satisfactorily, bringing high revenue through mutual growth partnerships, as Marcelo Salgado, Chief Operating Officer for Laboratorio Petrizzio, explains.
"We have done a good job at managing our expansion in the retail market; in fact, our growth is above the average in the cosmetics industry. The Chilean market is mainly focused on retail, this is why we partner with our clients, creating mutual growth strategies," the executive said.
Guaranteeing the Supply Chain
Building and nurturing solid relationships with clients and suppliers is a priority for the company's business model. Consumers' profile is clearly defined, and this allows for establishing effective strategies and service guidelines. Demand for Petrizzio products grows during certain holidays, knowing facts such as these along the laboratory to plan seasonal strategies well ahead of schedule, resulting in profitable deals for their clients, suppliers and themselves.
"Partnerships are crucial within our industry sector. Our product output is 90 percent for women, and we've earned their trust with our products' quality and affordable prices. Consumers rely on Petrizzio products to give as a gift to their loved ones and their friends for birthdays and holidays," Salgado shared.
Designing (and Marketing) the Products of Tomorrow
One of Petrizzio laboratories' routine efforts are due to the seasonal nature of high sales timing for its products. This demands a marketing strategy similar to the one recurred to in the fashion industry, by developing product lines to enhance looks according to the year's seasons.
"We launch new products every year, designing for two kinds of seasonal looks: autumn/winter and spring/summer, and always with an innovative product," explained the COO.
In recent years, the company has carefully studied options for exporting. These efforts resulted in finding openings in Ecuador, Peru and Bolivia, with the sight set on other neighboring countries in years to come. Expansion depends on compliance with trade regulations between every country.
"We are settling positively in Ecuador and beginning to export to the Peruvian market. We are currently processing paperwork for product registration in Bolivia. Other countries in sight include Colombia as a priority, and Uruguay, Paraguay and Costa Rica, afterwards," Salgado shared.
Sustaining Leadership in the Domestic Market
It's no easy task to hold any leadership in an open market, competing with brands such as L'Oreal; but there are still unique attributes for Laboratorio Petrizzio.
"Different from other laboratories and companies in the beauty products retail market, we develop our products entirely by ourselves. Our development department is very complete and experienced, its accomplishments keeps us ahead of the rest," stated the executive.
Total control of production also allows the company to control quality and price of their output, hence consumers can find a quality product at a convenient price, a hard to beat combination. And the reliable roster of suppliers is the cherry on top of the cake to keep being the leader of a very competitive market.
The Personnel: the Brand's Foundation
Salgado stressed the importance of Petrizzio laboratories' staff as a force driving the company's competitiveness.
"Our personnel includes key elements that have worked in this industry for a long time; local individuals that have been developed by Petrizzio. They have learned and developed within the beauty products market. There's an expertise among all of them that brings us competitiveness", the COO finalized.