Cosmax, investing and expanding its global presence
Almost exactly one year ago, after announcing its intention to acquire in the state of Ohio in the U.S., a plant specialised in the design and manufacture of formulas for the skincare and make-up markets, the first products lines of the Korean company Cosmax, are rolling off the assembly line this month. Ultimate objective for the group, produce some hundred million pieces per year and as a consequence, strengthen its presence across North and South America. And that’s not all, Cosmax leaders have announced one after another: the setting up in Korea of a Research and Innovation Centre more specifically dedicated to packaging, the increase in the production capacity of their two Chinese factories, the extension (4,000 sqm) of one of the Korean factories, and to top it all the makeover of its internal organization with the creation of a Strategic Marketing oriented team and the restructuring of the group’s management (SAP). A series of investments that occur at a time when the Group will be posting for the year 2014, an increase of more than 30% of its consolidated turnover, which is expected to reach 600 million dollars.
The United States: A strong line of action!
For Jay Kim, CEO of Cosmax International, “our main areas of international development are clearly oriented for the coming months on the strengthening our presence in the U.S. and on supporting the significant growth in the skincare and make-up market in South-east Asia, especially in China (40% of our activity). This explains our continuous investments to strengthen both our financial and human resources in these two regions. As for Europe, we, of course, also intend to increase our presence, especially commercially speaking, knowing that eventually, as I already had an opportunity to say in your columns, an industrial presence is not excluded in the longer term”. The Korean company, which is positioned as a total outsourcing company in both the niche of skin care and make-up, stresses this year on the importance of the service that it is entitled to provide its customers with, in terms of packaging development but also applicators. “This is essential, explained Jay Kim, innovation and quality in formulas are all the more valorised when the packaging is adapted and if we take into account the way they should be applied. Our customers and, in particular, our key international customers are expecting this type of service from us.” Hence the opening this year in Korea, of the “packaging” dedicated Research and Innovation Centre which has all the necessary equipment. Besides Indonesia and the U.S. The group so far has three factories in Korea and two in China, and we were at the told headquarters that a fourth unit could soon see the light in Korea.