New player in skin care business eyes 20% market share

Psalmstre Enterprises, a new player in the growing skin care industry in the country, is eyeing to corner at least 20 percent of the market despite heightened competition from other brands.

The company produces and sells a new line of anti-aging skin soap, facial cream, toner and body lotion products using the placenta plant from the Mexican skin tree.

Its general manager, Jaime V. Acosta, said the skin care products are being sold under the brand name New Placenta anti-aging and skin-whitening in one. The New Placenta line, along with its other brands Olive C and food supplement brand Livermin, are already being sold in selected stores of SM, Watsons and HBC Beauty Stores.

Acosta said the company has made a significant jumpstart in the business as it has already cornered at least five percent of the market this early. The skin care products started in Cebu and is now being distributed and sold nationwide.

In addition, the New Placenta line is being endorsed by former Miss International, well-known model and actress Melanie Marquez.

Psalmstre is among a growing line of Filipino-owned and developed beauty and skin care manufacturers who are daring to compete with the bigger international beauty products manufacturers.

The new beauty products firm is also expanding into other health and wellness products which it is formulating in collaboration with German botanical and herbal expert Dr. Dietmar J. Rummel.

Once it has built up its domestic market, Acosta revealed Psalmstre plans to tap the international market.