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Companies & industry

Cosmax: 60 million dollars invested this year!

The Korean group specialized, among others, in the design and manufacture of skincare and make-up formulas and whose total turnover across all sectors, in 2015 will exceed US$ 800 million, up by 25 per cent over last year, will have invested this year the tidy sum of 60 million dollars in all areas of its production tool, worldwide.

Jay Kim, CEO of Cosmax International

Jay Kim, CEO of Cosmax International

For skincare and make-up only, explains Jay Kim, CEO of Cosmax International, our turnover, which also rose sharply, will exceed US$ 500 million!

The group, who, in this area, currently relies on five plants, with one in Korea, two in China, one in Indonesia and one in the USA (Ohio), has announced the intensification of its efforts in the area of packaging development (efforts that resulted in recent months in the creation of a Korea Research and Innovation Centre) with the opening of a similar second unit in the New Jersey premises, operational since January 8, and which should employ a hundred people in three years’ time.

In this area, we are working with the biggest brands,” emphasises Jay Kim. Among recent successes developed by the Cosmax teams, a “compact cushion” fully patented by the group and already sold at more than 40 million units to its key customers.

A huge potential in China!

And there is more! The group also announced the strengthening of its production tool in China with the launch of two new units in Shanghai.

Cosmax USA

Cosmax USA

As you know the Chinese make-up market is starting to wake up,” explains Jay Kim. “Chinese women have started to step up their consumption and it will explode in the coming decade.

Asia, the United States..., but this does not mean the Korean company is disregarding Europe, quite the contrary.... “We’ve given ourselves two years to stabilize the things we started in the United States and Asia. Then we intend to invest in Europe and why not in France!

Jean-Yves Bourgeois

© 2015 - Premium Beauty News - www.premiumbeautynews.com
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