COSMAX to Expand Customization to Include Skincare and Make-up

COSMAX CEO Byeong-man Lee said that COSMAX's management policy for 2023 is to "explore".

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The COSMAX Group will focus on improving management efficiency this year, selecting appropriate strategies based on different market conditions. The OBM business will be promoted as the core focus of the Group's development strategy to enrich the company's profit model.

On the other hand, COSMAX Korea will continue to deepen its product customization business, and after last year's custom shampoo, this year's customization will be expanded to include skincare and color cosmetics. In terms of production, additional production facilities for customized products will be installed to improve engineering efficiency. In terms of smart production, COSMAX plans to optimize costs by introducing the "Smart Factory" and "Smart QC 2.0" systems.

In addition, COSMAX also introduced CRM (customer relationship management) solutions, established a consumer database, guided product research and development by analyzing consumer data, and launched innovative products that led the trend.

Byeong-man Lee said, "COSMAX's 'breakthrough' efforts such as digital transformation and customization research are starting to yield impressive results, and through ONE COSMAX's 'global community' strategy, COSMAX will upgrade its corporate positioning as a 'global beauty & health integrated service company'."

COSMAX is the OEM for major international brands such as L'ORÉAL and Lancome, and emerging Chinese domestic brands including Winona, Judydoll, and PMPM are their clients. COSMAX has factories in Korea, Shanghai and Guangzhou in China, New Jersey in the US, Jakarta in Indonesia, and Bangkok in Thailand.

According to COSMAX's financial report for the first half of 2022, COSMAX achieved revenue of 802.87 billion won ($642.3 million) in the first half of 2022, a year-on-year increase of 3.56%, operating profit of 309.69 billion won ($247.7 million), and net profit of 15.51 billion won ($124.1 million).

As the fastest growing and largest market of COSMAX in the world, COSMAX's revenue in China in the first half of this year was 301.656 billion won ($241.2 million), accounting for 37.57 percent of COSMAX's total revenue