The race of Lovrén, the David challenging the Goliaths of make-up

There is no stopping the race of Clinicalfarma, the small Genoese company, founded in 2018, which sells made-in-Italy make-up products in pharmacies, at low cost, mainly under the Lovrén brand. But neither are the initiatives of Diego Gulli, the young entrepreneur who, with Alessio Baldaccini, manages the company, and who, together with other partners (all in their thirties), has also founded Bestmad, with the main business of eyewear (and the Kelinse and Loki brands).

With Clinicalfarma, explains Gulli, 'in the first six months of the year we achieved a turnover of 15 million and we expect to break through the 30 million mark in 2024, and then aim for an increase of around 30 per cent in the following year', thus reaching almost 40 million (in 2019 the company posted 1 million in revenues): "In June," he says, "I set up Brelt, in which I conveyed the majority shares of both Clinicalfarma and Bestmad. This will allow me to explore many alternatives, with a view to future development and investment'.

Clinicalfarma, moreover, is positioned, continues Gulli, "ever higher in the dermocosmetics and hygiene market: according to the latest Newline market research data we have a share, in the markets covered, of 7.7%, we are behind only Unifarco and L'Oreal with all its brands. This, with a growth trend of 53.6%, from July 2023 to June 2024. And we are also in seventh place in the overall ranking. Going into detail, more than one in two mascaras sold in Italian pharmacies is ours, 50.6% to be exact, up 29% over the period. In fact, we sell 12,000 mascaras a day. And more than one in three products sold in the make-up segment, in which we have a market share of 31% and a growth trend of 55% (between July 2023 and June 2024, ndr), is Clinicalfarma's. Furthermore, we now boast the leadership of the eye make-up market, both in volume and value, as well as other product leaderships'. Ensuring the bulk of the company's turnover is the Lovrén brand, with which Gulli and his partner have devised and carried out a special operation: to make, and sell in pharmacies, quality products at low prices, the lowest on the market. And all made by Italian subcontractors, except for Argan oil, traditionally produced in Morocco, and nail polishes, manufactured in France. But after the Lovrén boom, the entrepreneur has not stopped. "We have now also consolidated the position of our second brand, Narika, which is basically a competitor of Lovrén, in the same channel, and which we dream, not unrealistically, of taking second place within the next 12 months. In short, we have been competing with ourselves with the aim of saturating the market'.

As for abroad, he adds, 'we are achieving unprecedented results in France, managing to be, even there, pharmacy sales leader with our mascaras; we should exceed 6 million in sales in 2024. While in Spain and Portugal, through our wholly-owned subsidiary Clinicalfarma Iberia, despite the difficulties encountered in moving from a distributor to direct management, with a logistics warehouse on site, we will close the year at around 5 million. The autumn, moreover, represents a very important crossroads to understand potential future developments abroad, also because we will participate in two important international trade fairs: Munich and Istanbul. Finally, Bestmad, the company is carving out an important reference space in the 'alternative' optical channel, proposing itself with Loki, for the more fashionable pre-assembled frames, and with Kelinse, as a cheaper alternative to designer eyewear. This year we are aiming for a turnover of 2 million. An ambitious but attainable goal. We shall see.