Intercos — Environmental & Social Information 2024

Mar 20, 2024

March 2024

Intercos and Amarey announce a revolutionary partnership in the world of cosmetics that combines innovation and circular economy

The first result of the partnership, in collaboration with illycaffè, is the coffee butter, obtained from the silverskin, the film that covers the beans and is removed during the roasting process

Agrate Brianza, March 20 2024 – Intercos S.p.A., a global leader in the research and development, production and marketing of cosmetics (Make-up) and skin care (Skincare) as well as hair and body care (Hair&Body) products, and Amarey, founded by the Illy family, an innovative start-up specializing in functional products derived from coffee, announce a strategic partnership for the research, innovation and development of cosmetic raw materials obtained respecting the environment and adopting the principles of the circular economy, also with the collaboration of illycaffè.

At the Beauty Event 2024, the event that opens the doors to Cosmoprof 2024, the main international trade fair dedicated to the entire beauty industry chain, Intercos and Amarey present the first product of this collaboration. An innovative coffee butter with multiple applications, with extraordinary toning and emollient properties, which will be available on the market from March 21st, 2024.

The collaboration between Intercos and Amarey was born at the end of 2022. After only a year of scientific research with an 'Open Innovation' approach, their respective laboratories created a coffee butter, rich in active ingredients and with exceptional cosmetic properties. The product originates from the 'silverskin', the silvery skin that covers the coffee beans, a film that peels off during the roasting process and that until now was discarded. The 'silverskin' retains a small part of fat, which represents great added value for the world of cosmetics, thanks to its special chemical composition and chemical-physical characteristics.

This innovative biomimetic cosmetic component was discovered in 2018 during a circular bio-economy programme funded by Fondazione Cariplo and Innovhub, but it was only through the work on the extraction process for a cosmetic use of the silverskin that Intercos and Amarey laboratories achieved the coffee butter.

Illycaffè also participated in the project, providing its many years of experience in research and innovation and carrying out the necessary studies and analysis for the use of silverskin as a by-product. Through the model of the circular economy, a product that was usually considered waste, once again becomes an extremely interesting raw material for use in cosmetic products.

"We are enthusiastic about the partnership with Amarey and illycaffè, because it has enabled us to rapidly complete a revolutionary research project of this kind. In fact, it combines attention to the environment through principles of circular economy, which allows us to give new life to food waste, and the development of an innovative raw material with multiple applications. The 'Open Innovation' approach instantly connected us to Amarey and illycaffè, and we immediately embraced the project, from which the strong synergy began," commented Gabriele Depta, Intercos Group Chief R&D Officer. " To achieve the highest level of innovation and performance, Intercos has long invested in raw material development. We have several lines of research focused on the possibility of using by-products of food chain processing, with a view of sustainability and to embrace the value of Made in Italy. The coffee butter is just the first example of this philosophy and at Cosmoprof 2024, which will be held from 21 to 24 March in Bologna, we will present the first face powders containing it, but we are already working on further applications. Many wonderful projects in the name of innovation and collaboration await us."

" This partnership with Intercos, together with the collaboration of illycaffè, brings together and enhances the excellence of Made in Italy in the cosmetics and food sectors, forming a true alliance for change," says Andrea Dominique Illy, Co-Founder & CEO of Amarey. "Thanks to the know-how of Intercos, the knowledge of illycaffè and our team of experts in extraction techniques, we have managed to transform the silverskin of coffee into a raw material with extraordinary properties: the coffee butter. This progress highlights Amarey's commitment to the research and development of functional products derived from the Coffea, reinforcing our role in exploring the potential of coffee beyond its traditional applications. It is a partnership that enhances and supports young companies like ours, born with a strong passion for innovation and facilitating synergies and collaborations between different sectors. In the end, as my grandfather Ernesto used to say, 'Innovation is just a successful disobedience', and it is precisely this disobedience that will continue to drive our scientific innovation."

"Since its foundation, illycaffè has oriented its strategies towards a sustainable business model and this project interprets our values in the best possible way," reports David Brussa, illycaffè's Total Quality and Sustainability Director, who continues, "For some time we have been analysing the coffee production phases along the entire supply chain to identify all the possible sustainable alternative transformations of this ingredient. We apply the circular economy model, to study how to convert elements that are currently discarded from the production process, such as green coffee powder, broken roasted beans and, indeed, silverskin, into a new by-product. We want to valorise all possible types of waste, because we know that they are still very rich in molecules that can be reintroduced into other production circuits. The collaboration with Amarey, which began with the use of the silverskin, will lead to the development of further projects based on the principles of the circular economy."

Intercos Group

Intercos is one of the leading business-to-business operators internationally in the creation, production and marketing of cosmetics (Makeup) and Skincare products, in addition to hair and body care products (Hair&Body), for leading domestic and international brands, emerging brands and retailers serving the cosmetics market and the wider beauty sector. Founded in 1972 by Dario Ferrari, Intercos lists the top cosmetics brands among its customers, with a staff of 6,400, 11 research centers, 16 production facilities and 16 commercial offices across three continents. Intercos for 50 years has interpreted beauty, creating cosmetic products and becoming a trend setter which predicts, anticipates and influences new cosmetic trends, meeting the demands of a range of customers with products for all price ranges.

Media Relation

Image Building Via Privata Maria Teresa, 11 20123 – Milano Tel. +39 02 89011300 intercos@imagebuilding.it

Investor Relations

Andrea Tessarolo tel. +390396551 investor.relations@intercos.com

Amarey

Amarey, founded by the Illy family, is an innovative startup dedicated to the development of functional products and ingredients obtained from the whole coffee plant. This initiative builds on the solid foundations of illycaffè's many years of research, aiming to exploit the vast potential of the Coffea. Amarey 's goal is to transform the recognised benefits of coffee into innovative solutions for the nutraceutical, cosmetic and fragrance sectors, while promoting principles of circular economy. Thanks to a future-oriented approach and the adoption of advanced technologies, Amarey is able to produce high-quality ingredients through sustainable extraction methods. The close collaboration with illycaffè not only underlines the commitment to exploring the potential of coffee as a functional ingredient, but also marks a step towards a real revolution in the beauty and wellness industries, offering regenerative solutions that do not compromise on quality. Amarey 's commitment to the environment, ethics and scientific progress is a reflection of the legacy of innovation and responsibility, emphasized by the benefit company status.

Media Relation

BPRESS Via Maurizio Gonzaga, 7 20123 – Milano Tel. +39 340 2597034 amarey@bpress.it

illycaffè

illycaffè is an Italian family company founded in Trieste in 1933, whose mission has always been to offer the best coffee in the world. It produces a unique 100% Arabica blend of 9 different ingredients. The company selects only 1% of the world's best Arabica beans. Every day 8 million cups of illy coffee are enjoyed in bars, restaurants, hotels, single-brand cafés, homes and offices in over 140 countries, where the company is present through subsidiaries and distributors. Since its inception illycaffè has oriented its strategies towards a sustainable business model, a commitment it reinforced in 2019 by adopting the status of a Benefit Company and in 2021 by becoming the first Italian coffee company to obtain the international B Corp certification. Since 2013 illycaffè has also been one of the World's Most Ethical Companies. Everything that is 'made in illy ' is enriched with beauty and art, starting with the logo, designed by James Rosenquist, the illy Art Collection, the cups decorated by more than 125 international artists or the coffee machines designed by internationally renowned designers. With the aim of spreading the culture of quality to growers, baristas and coffee lovers, the company has developed its Coffee University, which now runs courses in 25 countries around the world. In 2021, Rhône Capital entered illycaffè's capital with a minority stake to accompany the company in its international growth. In 2022 illycaffè employed 1230 people and generated consolidated sales of €567.7 million. The single-brand illy network has 190 points of sale in 34 countries.

Media Relation

BPRESS Via Maurizio Gonzaga, 7 20123 – Milano Tel. +39 340 2597034 illy@bpress.it