MODERNIZATION OF COSMETIC PRODUCTION SITE TO PRODUCE PRODUCTS WITH INCREASED VALUE ADDED
This year Kinetics Nail Systems has finished the latest development project of the innovative daylight cured and UV/ LED cured nail coating formula development that lasted for 3 years. June 2015 Company has started a mass production of 2 newly developed formulas – daylight cured nail coating and UV/LED light cured nail coating. During the formula development phase, company has invested more then 5,000 working hours of highly skilled and more than 1,000 consulting hours of foreign industry experts. At the end of the development phase the product was tested in field tests with more than 1,000 respondents participating in Latvia and abroad. The total project investments exceeds 300,000 € and was funded by the Kinetics Nail Systems, as well by attracting EU funding.
Kinetics Nail Systems offers the newly developed products to a leading European private label companies. This year the recently developed products were successfully launched in Germany and Netherlands reaching sales of more than 500,000 € within first 6 months.
In the coming years it is planned to continue with formula developments by allocating additional investments to attract the best industry experts for further knowledge building. In the next few month Kinetics Nails Systems intends to present the new formulas in the leading cosmetics industry exhibitions in Moscow, Hong Kong, Bologna, Las Vegas and Dubai.
To start the mass production, Kinetics Nail Systems has created 3 new work places and acquired new, contemporary production equipment - vacuum blender, which fully complies with EU standards.
The total investment in amount of 150 000 € was co-financed in cooperation with the LIAA and ERAF support program*.
* Project “Kosmētikas ražotnes modernizācija augstākas pievienotās vērtības produkcijas ražošanai”, Līguma Nr. L-APV-14-0112 (Eng. translation “Modernization of cosmetic production site to produce products with increased value added.”).