The Barcelona-headquartered beauty packaging specialist has chosen the Seoul-based company LM as a partner to help it consolidate its presence in the Asian market.
A well-established packaging manufacturer, with a strong presence in the derma skincare Korean market, LM will be responsible for the production, assembly and decoration of components from Quadpack’s QLine portfolio, which gathers the company’s exclusive ranges of packaging solutions.
Along with the agreement with Yuga in China announced in February, Quadpack has chosen to establish partnerships based on a new, regional operating model that bets on local productions in order to improve service to customers while increasing the company’s market share and strengthening the Quadpack brand.
“The big Asian packaging markets are measured in billion euros, with Korea alone worth EUR 1.1 billion. To conquer this region and to fulfil the objectives of our 2020-2025 business strategy, we turn to our trusted partners. With common values, complementary strengths and established reputations, these key industry colleagues will extend our reach and enrich our service, as we deliver solutions in the region, for the region,” said Raj Savji, Quadpack Managing Director - Asia Pacific.
“Collaboration is in our DNA,” added Quadpack CEO Tim Eaves. “Quadpack itself started as a partnership of three companies in 2003: Belcos Packaging, Lenglart Packaging and Gadbrooke Packaging, each of which worked with partners worldwide. In fact, LM CEO Michael Lim is one of my oldest contacts from Belcos, going back nearly two decades. I am delighted to renew our friendship and welcome our new partner to the Quadpack family.”
Quadpack aims to rely on these partners to further develop its QLine portfolio with solutions specifically designed for local markets through co-creation and collaborative innovation.
In Addition to Yuga, near Shanghai, and LM in Seoul, Quadpack’s presence in the Asia-Pacific region also includes an office in Tokyo, Japan, inaugurated one year ago. With a growing team, it is building relationships and fostering partnerships in this key Asian market.
Longest-established in the region is the Melbourne office, which services Australia and New Zealand directly, with plans for stocking and local manufacture for faster time to market and a lower carbon footprint.
Quadpack plans to replicate this operating business model based on partnerships for other regions.