Italy’s leading cosmetics contract manufacturer Intercos is partnering with South Korean retailer Shinsegae to create new skin-care and make-up lines that will target Asian customers.
The partnership will take the form of a joint venture equally owned by Intercos and Shinsegae.
Shinsegae founded Korea’s first department store in Seoul in 1930. In 1993, the group launched Emart, the first discount hypermarket chain in South Korea (150 point of sale in South Korea and 15 in China). Shinsegae is also investing in suburban shopping malls in several locations in South Korea.
Last July, Intercos took a 20% stake in the Korean packaging manufacturer Hana, which defines itself as a “world expert in airless pumps and dispensing systems.” The Intercos Group is experiencing a strong growth in Asia and is the one of the few ODM today with an extensive global manufacturing capacity.