Dedicating a factory to research and development is the gamble taken by the French group Naos, which has just acquired a new industrial facility in the south of France. AURIS Finance, a consultancy specialising in mergers and acquisitions, examines this new market move in closer detail.
Naos is a major player in the cosmetics sector. This French multinational company manufactures and markets skincare products under the Bioderma, Institut Esthederm and État Pur brands.
The inventor of micellar water
Although founded in 1977, the group remains a relatively discreet player compared to the other giants in the sector. Nevertheless, it is one of the world leaders. For three decades, the group has enjoyed worldwide success thanks to its micellar water. In 1995, it was the first group to develop new make-up remover technology using micelles. Bioderma’s Crealine H2O micellar water has become one of the world’s most highly recommended beauty products. To this day, one bottle is sold every second in the 130 countries covered by the group. Two hundred thousand bottles of Crealine H2O leave production facilities every day.
Made in France
The company was established in the south of France by a Doctor of Pharmacy and has maintained its local roots ever since. The production plant and head office are located in Aix-en-Provence. Having outgrown its factory, the group has acquired a new production unit by taking over 100% of the shares in Probionat Provence, a supplier specialising in the creation and manufacture of natural cosmetics. This acquisition is a logical step for the Naos Group, which is committed to ‘ecobiology’ and creates formulations that respect the environment and living organisms. The group prides itself on 100% French production.
Steady growth
The group intends to step up its research and development programme and accelerate the launch of new innovations with this new production facility. R&D activities will be concentrated in the newly acquired premises, while the historic factory will remain in the group’s ownership. This move will enable Naos to free up production capacity. In 2019, the Aix plant produced 119 million units. With a presence in 130 countries through 45 subsidiaries, Naos generated sales of €904 million in 2024, thanks to average annual growth of 12% over the last ten years. France remains a small market for the group, which generates 77% of its sales internationally.
A strategic sector
According to the French Federation of Beauty Companies (FEBEA), French cosmetics exports reached €21.3 billion in 2023, establishing the industry as the second-largest contributor to the balance of trade, behind only aeronautics. Although the global cosmetics and personal care market is performing well, it remains highly competitive and is dominated by major players such as L’Oréal, Estée Lauder and Shiseido. By strengthening its manufacturing base in France, Naos is demonstrating its commitment to combining innovation with local production — a strategy that distinguishes it from its competitors, many of whom are choosing to relocate.
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