Shinsegae Group's e-commerce company SSG.com has announced on the 6th that it has signed a memorandum of understanding (MOU) with COSMAX, the world's leading cosmetics research, development, and manufacturing (ODM) corporation, to discover and cultivate emerging K-beauty brands and expand their market access.
According to the agreement, COSMAX will recommend domestic small and medium-sized brands with high growth potential in the beauty sector, and SSG.com plans to provide various support measures to build an ecosystem to grow alongside these brands.
SSG.com will support the brand's advertising marketing, operate customer experience groups to enhance viral marketing, and invite small and medium-sized beauty brands to major events such as SSG Sale and SSG Day to help raise brand awareness.
COSMAX will also leverage its global network, including the United States, China, Japan, Indonesia, and Thailand, to assist promising brands in their overseas expansion.
A representative from SSG.com noted, "We will be the first to introduce indie brands that excite customers in the SSG.com beauty specialty section," and added, "We will do our utmost to support the growth of K-beauty small and medium brands in collaboration with COSMAX."