A total staff of 320, three factories, including one in China, USD 650 million in sales, the COSON Company, (short for “COSmetic champiON”) is undeniably the up-and-coming company in the sphere of world sub-contractors serving the make-up industry.
A rather original story, that of the company, which started in 2000 with the creation of one and then several skincare brands. Products developed are good, not to say excellent, and in no time the company enjoys a meteoric rise propelling it among the leading companies in South Korea. In 2014, the Head of the company decides to complement its activity by becoming a subcontractor and to extend its scope of action from skincare to make-up.
An “Incubator” of new brands!
The right move obviously, since this year the firm can boast a total turnover of USD 650 million, including USD 150 million from make-up, on par with the turnover achieved by skincare. And demand is so high, the three existing production units, in Korea and China, are no longer sufficient. A new factory covering an area of 9,000 sqm will be built from the ground up, in Korea next year, next to the 6,400 sqm current site.
Fifty-five people work full time at the R & D department and no one can deny that at each trade show to which the firm takes part, in particular the “MakeUp In” events, the COSON stand is busy all day long. Best of all, the company has also positioned itself as an “incubator” of new brands by creating a division called “OBM” that currently manages 30 brands. A dynamic and visionary man, Mr. Lee...! Quite enough in any case, to seriously challenge major current market subcontractors, especially since the reputation in terms of innovation of COSON is not over done. As a proof, the recent and amazing formulas developed by the Korean company showing sceptics that it is still possible to innovate in this sector.
To note finally, that the company has decided to partner with the Hunan Yujiahui Cosmetics Company, a leader in the Chinese sheet masks market, to secure the ever-growing market for its cosmetics.
Hunan Yujiahui Cosmetics will start with COSON’s sheet masks and in the future will develop products through original development manufacturing (ODM), the company explained. COSON already has a strategic partnership with Yujiahui to supply ODM products to its four brands, including Yunifang, which has topped the Chinese sheet mask market.