China-Japan row could work in favor of Korean cosmetic manufacturers, as Chinese consumers opt for domestic brands — many of which rely on Korean original design manufacturer (ODM) firms with local subsidiaries.
Korean cosmetics original design manufacturers (ODMs) continued to post strong results in the third quarter, driven by steady global demand for K-beauty products and a growing overseas client base.
K-beauty is hitting the gas, with original design manufacturers lowering the entry barrier to the industry, allowing small players with big ideas to get in on the game — while cutting turnaround time so no one misses a second of the trend.
Cosmax, Korea's leading cosmetics original design manufacturer, held a groundbreaking ceremony for its 56 billion won factory in Thailand to expand its foothold in Southeast Asia.
Seoul National University announced Wednesday it will continue its partnership with Cosmax in cosmetics technology research, with the company investing 6 billion won ($4.3 million).
Cosmax, Korea's major cosmetics contract manufacturer, on Monday reported its second quarter net profit of 35.3 billion won ($25.8 million), up 28.9 percent from a year earlier.
Cosmax, Korea's major cosmetics manufacturer, said Sunday its factory jointly built with Yatsen Holdings has begun operations in Guangzhou, China.
Cosmetics company Cosmax is gearing up to enter the pet food business, aiming to have 20 percent of the market by 2024.
Korea JoongAng Daily Sitemap
