Indonesian Cosmetic Brand Wardah Beats Pandemic Odds with Rp 22.9B in Exports

JAKARTA, KOMPAS.com – Fast-growing Indonesian cosmetic brand Wardah exported Rp 22.9 billion worth of products to Malaysia in October 2020.

This was Wardah’s manufacturer Paragon Technology and Innovation’s (PTI) 53rd time to ship out cosmetic and facial care products this year with the latest venture entirely for the Malaysian market.

“I would like to extend my appreciation to PTI for successfully expanding their overseas presence amid a pandemic and global economic slowdown,” said Indonesia’s Minister of Trade Agus Suparmanto.

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The trade minister highlighted the massive potential for cosmetic exports considering that last year, the global demand for cosmetic goods and perfumes reached $82.40 billion.

Between January and August 2020, Indonesia’s cosmetics product exports totaled $135.67 million.

Thailand was the primary export market accounting for 18.89 percent of total exports followed by Singapore at 16.58 percent.

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Malaysia is the third-biggest buyer for Indonesia’s cosmetics product exports with 10.71 percent of total exports in addition to the Philippines with 9 percent and Japan with 6.04 percent of total exports, respectively.

Indonesia’s Trade Minister explained that there remains plenty of opportunities to grab hold of to increase the country’s cosmetic goods exports globally.

As such, he hopes that other Indonesian cosmetic companies will continue to expand their business to the international market.

“Hopefully with this (Wardah’s) export, our cosmetic products can gain better recognition internationally and not just domestically.”

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CEO of Paragon Group Harman Subakat said that the company is fully dedicated to expanding its overseas market reach to introduce Indonesian cosmetic brands and products to the global fore.

“Our recent export to Malaysia is the government’s show of support to local businesses. This makes us optimistic in opening up our overseas market reach to bolster the Indonesian economy.”

(Writer: Yohana Artha Uly | Editor: Sakina Rakhma Diah Setiawan)

Source: https://money.kompas.com/read/2020/10/27/161200926/wardah-ekspor-kosmetik-ke-malaysia-senilai-rp-22-9-miliar?page=all#page2