Malta-based Toly Group has surpassed the EUR 100 million milestone, two years ahead of their original business development plan.
“To be precise, we achieved a sales figure of EUR 104.3 million in what we invoice our customers in the beauty industry including our partners. In fact, our business has doubled over the last four years since 2014,” said the company in a statement.
The privately-owned supplier of makeup and beauty packaging and turnkey products is now looking ahead to reach the 250 million mark. In order to scale up their production, the group is investing heavily in state-of-the-art manufacturing premises. Following the opening of a new 8,000 sqm Toly Korea Manufacturing plant in April 2018, Toly is now building a brand new 20,000 sqm plant in Malta, which is scheduled to open at the end of June 2019. In addition, their airless joint venture Toly Airless packaging is also building a brand new 20,000 sqm factory, to open later this year.
New growth models
To address the new need of their customers, in particular regarding speed to market and environmental issues, the company is also tapping into new categories and opening new divisions:
Beauty Trill, their full-service branch, which offers their customers with ready-to-go filled products on trend with customer expectations.
Toly Deluxe, their luxury paper division, with a core focus upon paper palettes, in exclusive partnership with Hung Hing, for brands looking for alternatives to plastics.
Toly Design Studio, which offers customers branding as well as full design services, including an innovation lab for applicators across different categories, such as brows, lips, and face.
“Toly needs to continue to disrupt the packaging industry, and is doing this by creating a beauty product development platform. With this platform, today we offer our customers manufacturing, sourcing, full service, design capabilities, and innovation partnerships,” highlighted the company.