April 17, 2024

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[THE INVESTOR] Kolmar Korea, a major domestic cosmetics original design manufacturer, said on Sept. 27 it has bought a 10.76 percent stake in Eone-Diagnomics Genome Center in a bid to develop DNA-tailored cosmetics.

Kolmar seeks to leverage the bioinformatics technology and global network of Eone-Diagnomics Genome Center, a joint venture between Seoul-based Eone Life Science Institute and Diagnomics in California, to offer diversified health care services like cosmetics, medical and food. Kolmar shares climbed 2.34 percent to 71,000 won (US$62.31) as of noon.

“A genetic analysis can recommend vitamin C containing cosmetics to consumers with vitamin C deficiency and food that prevents hair loss to people with genetic causes,” a Kolmar official said.

He added that the company could expand its business to preventive medical service like non-invasive prenatal tests and cancer diagnosis.

Ahead of the portfolio expansion, Kolmar strengthened its geographical reach to North America market by acquiring Process Technologies and Packaging, a US-based developer, manufacturer and packager of color cosmetics, and Canada-based ODM firm CSR Cosmetics Solution in 2016.

By Park Han-na (hnpark@heraldcorp.com)