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Cosmecca Korea to build third cosmetics plant in China

Collected: 2017.12.12

Distributed: 2017.12.13

Source: Go Direct

[Photo by Cosmecca Korea Co.]

Cosmecca Korea Co., a South Korean contract manufacturer of cosmetics, will set up its third factory in China by the second half of next year, doubling its capacity to meet increasing demand in the world’s largest consumer market.

The company said on Monday it has started the construction of the new factory on a 40,833 square meter site in Pinghu, Zhejiang Province.

The new plant, when completed in late 2018 as planned, would double Cosmecca’s production in China to 240 million units.

The Korean cosmetics firm first entered China in 2013 and opened its first local entity Suzhou Limited Company a year after. This year in June, it started operation of its second factory in Foshan, Guangdong Province upon gaining approval from Chinese authorities.

Cosmecca Korea started making profit in China three years after entering the country and has since been expanding by double digits, with third quarter sales up 73.5 percent on year.

The company said its robust performance in China was driven by a growing list of local clients and rising sales from brand cosmetic shops and online channels.

Founded in 1999, Cosmecca Korea manufactures and supplies BB cream, tone-up cream and other cosmetic products to major beauty brands at home and abroad. Last year, it generated 13.1 billion won in operating profit on sales of 165.2 billion won.

By Lee Young-wook and Kim Hyo-jin

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