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Cosmax begins supplying its products to Japan’s Shiseido

Collected: 2016.11.28

Distributed: 2016.11.29

Source: Go Direct

[Photo by Cosmax Inc.]

Cosmax Inc., South Korea’s largest cosmetics original development manufacturer (ODM), started to supply its products to Japan’s leading cosmetics group Shiseido and its Za brand, a move that is expected to help broaden the Korean company’s foothold in the world’s third largest cosmetics market.

The Korean cosmetics manufacturer said on Monday that it recently signed a deal to supply its products to Shiseido Group. It added it has developed products including anti-aging cream, color control cream known as CC cream and organic skin care products that are popular in Japan.

The Japanese cosmetics market was estimated at $22.1 billion dollar as of 2015, after the U.S. and China. It is considered a strategically important market, as success in the market often guarantees cosmetics suppliers’ success in other Asian markets.

Cosmax expects the deal would increase its supply to the Japanese cosmetics market that has the high entry barrier and to Japanese customers known to have high loyalty for local brands. Shiseido is also expected to benefit from Cosmax’s advanced cosmetics technology and broad reliable logistics networks in countries such as Korea, Japan, China, the U.S. and some South East Asian nations where Cosmax has manufacturing bases.

As of 02:57 p.m. on Monday, shares of Cosmax fell 1.1 percent, 1,100 won, to 98,200 won in Seoul trading.

By Lee Young-wook

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