[THE INVESTOR] South Korean cosmetics original development manufacturers
Kolmar Korea and
Cosmax are further solidifying their top positions, continuing double digit growth and expanding overseas.
Kolmar and its subsidiaries reported 616.1 billion won (US$554.90 million) revenue in cosmetics business in 2015, according to Financial Supervisory Service’s data on Sept. 26. Cosmax’s six affiliates have posted a combined 592.6 billion won sales last year.
Intercos of Italy, which has dominated the global market so far, has been pushed down to the third place, with 402 million euros (US$452 million).
Both companies have been already gained a foothold in China, having entered the market as early as 2004.
Kolmar’s next target is the US. It acquired controlling stake in a local ODM firm Process Technologies and Packaging earlier this month to secure an operations hub and to strengthen its makeup lineup. For 2016, the company forecasts at least 10 percent rise in sales.
Cosmax, on the other hand, has shown strength in makeup, and is eyeing Islamic clients. It began manufacturing halal certified cosmetics in July at a factory in Indonesia, and aims to post 20 percent growth rate for 10 consecutive years.
By Hwang You-mee (
glamazon@heraldcorp.com)
