French luxury brands are eyeing new opportunities in the Iranian market as the country’s main business lobby group, Medef, visits the country on Monday.
After years of international sanctions, Iranian shoppers have grown accustomed to buying makeup, lotions and perfumes from unauthorised dealers, and at least a third of the cosmetic products on the market are thought to be counterfeit.
For potential investors, the stakes are huge. Iran is the seventh-largest cosmetics market in the world and the second-largest in the Middle East after Saudi Arabia.
The average Iranian female shopper buys 22 bottles of perfume a year - compared to just three in France, and many women in Iran say they devote most of their monthly shopping budget to beauty products.
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Date created : 2015-09-21