SA hair products rake in cash
South Africa's cosmetic industry is showing substantial foreign investment in the local black hair care and beauty market, and has a retail value of about R25 billion, the Department of Trade and Industry said on Tuesday. File picture: Debbie Yazbek South Africa's cosmetic industry is showing substantial foreign investment in the local black hair care and beauty market, and has a retail value of about R25 billion, the Department of Trade and Industry said on Tuesday. File picture: Debbie Yazbek
Cape Town - The country’s cosmetic industry is showing substantial foreign investment in the local black hair care and beauty market, and has a retail value of about R25 billion, the Department of Trade and Industry said on Tuesday.
Department spokesperson Bongani Lukhele said the value of the cosmetic industry had been estimated at R25bn at retail level, and R18bn at the manufacturing level.
The sector is growing between 7 and 10 percent a year.
In 2010, the cosmetic and personal care industry accounted for about two-thirds of the total market.
Exports of products, including hair care and skin care, amounted to R2.8bn of total exports, while imports were worth about R4bn.
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