Muristek
Cosmax Indonesia's virtual conference with local client companies in 2020
Cosmax Inc., a major South Korean original design manufacturer (ODM) for L'Oréal and other global cosmetics giants, is strengthening its marketing in Southeast Asia with and eco-friendly products and cultural localization. The beauty products maker said on April 20 that its Indonesian affiliate has recently acquired COSMOS Ecocert, a global label for organic beauty care products. Established by five European certificate institutes, the label approves products with natural ingredients and eco-friendly processes from composition to packaging. It certifies products contain 99% ingredients of natural origin, on average.Cosmax is the first Korean ODM that has earned an organic cosmetics certification in Indonesia. The Indonesian affiliate received a vegan product certification from France-based Expertise Végane Europe (EVE) in 2020. In 2016, it earned a halal certification from a leading Islamic body of Indonesia Majelis Ulama Indonesia (MUI), or Indonesian Ulema Council, for cosmetics that can be consumed by Muslims. The halal certificate from MUI is acknowledged in around 40 countries, Cosmax said. With the certificates, Cosmax Indonesia is set to accelerate expanding its business. The Southeast Asian country’s annual halal cosmetics market reaches $4 billion, posting an average of 12.6% growth rate with increasing demand for safe cosmetics ingredients as well as Korean beauty products, Cosmax said. The Indonesian affiliate has an annual production capacity for up to 140 million units of beauty products and posted sales worth 38.1 billion won in 2021, including exports to Vietnam and the Middle East. Korean cosmetics companies are boosting businesses in Asia. In February of 2021, Korean beauty giant Amorepacific Corp. signed a memorandum of understanding with Singapore’s leading e-commerce platform Shopee to expand sales of its signature brands such as Sulwhasoo, Laneige, Mamonde and Ryo in the Southeast Asian region. By Jung-Eun Kimlikesmile@hankyung.comJihyun Kim edited this article.
Most Read