April 20, 2024
Retail & Consumer
Cosmax joins hands with Japan’s Shiseido
[THE INVESTOR] South Korean cosmetics original design manufacturer Cosmax announced on Nov. 28 that it has signed an agreement with Japanese beauty giant Shiseido.
It will supply makeup and skincare products, including anti-aging cosmetics and cc cream, for the group’s Za range, which targets Asian customers.
This signals Cosmax’ further consolidated partnership with the world’s fifth-largest cosmetics company by revenue (US$6.9 billion in fiscal year 2014), for whom it has provided makeup items such as cushion-type compact for the prestige namesake line.
Cosmax will also secure a foothold to expand into the Japanese market, the third largest in the world after the US and China, and one of the markets with the highest entry barriers.
The cosmetics ODM company has recorded US$82.95 million revenue in 2015 and in the first half of this year, has reaped US$55.41 million in sales with over US$100 million revenue forecast for 2016.
By Hwang You-mee (glamazon@heraldcorp.com)
It will supply makeup and skincare products, including anti-aging cosmetics and cc cream, for the group’s Za range, which targets Asian customers.
This signals Cosmax’ further consolidated partnership with the world’s fifth-largest cosmetics company by revenue (US$6.9 billion in fiscal year 2014), for whom it has provided makeup items such as cushion-type compact for the prestige namesake line.
Cosmax will also secure a foothold to expand into the Japanese market, the third largest in the world after the US and China, and one of the markets with the highest entry barriers.
The cosmetics ODM company has recorded US$82.95 million revenue in 2015 and in the first half of this year, has reaped US$55.41 million in sales with over US$100 million revenue forecast for 2016.
By Hwang You-mee (glamazon@heraldcorp.com)
