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Looking to polish up the nail segment, several manufacturers are focusing on innovative brush technology to bolster product performance and enhance convenience.
"The sluggish nail polish market is going the way of mascara, as manufacturers innovate in brush technology to improve product performance," stated research firm Euromonitor International in a recent research report.
According to Euromonitor, at $3.3 billion globally, nail products experienced a compound annual growth rate of less than 2 percent between 2001 and 2006. Nail polish accounts for 75 percent of nail product sales and is forecast to see a compound annual growth rate of just 1 percent to $2.7 billion between 2006 and 2011. Given the sluggish growth, manufacturers are returning to the drawing board to find ways to generate new interest among beauty shoppers.
One such example is Del Laboratories. The company, which was recently acquired by Coty, has formed a licensing deal with Borghese to bring to mass a line of Borghese nail, hand and foot care products. One key feature that makes the...