Reina Margarita: Sustainable cosmetics

“The greatest challenge in starting one’s own business is marching from bank to bank in search of someone to believe in you” says Ariela Polito, an Argentinian national who now lives in Navarra, Spain, running her own cosmetics business.

Ariela had already worked in dermo-cosmetics in her home country: “In Argentina, I used to produce these kinds of products in the pharmaceutical sector. I worked mainly with blueberries, so when I arrived here, I looked into what I could use and discovered the qualities of the sloe, a local small plum.” Ariela immediately saw the opportunity to develop her idea: cosmetics deriving from local products.

Today, Reina Margarita offers a full range of cosmetics and beauty products rooted firmly in sustainable development and based on local products. “We use traditional Navarra gastronomy and transform it into cosmetics. Everything is natural, from the colours to the odours, all without artificial additives.”

In setting up the business, Ariela, who works with her husband, needed financing to equip her laboratory and meet regulatory requirements. Her business plan eventually appealed to Laboral Kutxa, who offered her a loan guaranteed by EIF through the EU Employment and Social Innovation programme. This EU programme aims to provide microfinance to vulnerable groups who want to set up or develop their business. In Ariela’s case, it gave her the opportunity to create her own job within her own business.

Looking ahead, she wants to continue along the path that has been traced so far, and diversify slightly, by not only offering gourmet cosmetics but also surrounding them with a touch of history. “People like to know things, and we like history. This is also where the name Reina Margarita comes from – she is a former queen of Navarra”, explains Ariela. The aim is to incorporate historical information in the explanation of each product, underlining the connection with the land and going beyond simple commercial consumption in the consumer experience.

Company: Reina Margarita (Spain)

Type of business: Cosmetics

EIF financing: EaSI

Financial intermediary: Laboral Kutxa

For further information about EIF intermediaries in Spain, please refer to:
http://www.eif.org/what_we_do/where/es