COSMAX is accelerating its global business by establishing a new factory overseas this year. Additionally, it is speeding up its entry into the Japanese market in collaboration with Qoo10 Japan, the largest beauty e-commerce platform in Japan.
Lee Kyung-soo, chairman of the COSMAX Group, served as a speaker at the '2025 Qoo10 Japan K-Beauty Mega Conference' held at the Grand InterContinental Seoul Parnas in Gangnam, Seoul, on the 14th, noting that "we are preparing to establish new factories in South Korea, Japan, Indonesia, and Thailand."
Founded in 1992, COSMAX operates in the cosmetics ODM (Original Design Manufacturer) business and surpassed an annual revenue of 3 trillion won last year. It is currently in transaction with 15 global top brands, including Louis Vuitton Moët Hennessy (LVMH) and Estée Lauder.
The chairman stated, "Now, South Korea is in an era where it is setting the standard for beauty," and diagnosed that "Korean clothing, food, and shelter are being globally recognized, and global consumers are longing for the skin and cosmetics of Koreans." He emphasized the need for future competitiveness through securing a young consumer base, speed, innovative product launches, and teamwork.
On that day, COSMAX announced plans to expand its targeted assault on the Japanese market for K-Beauty in partnership with eBay Japan. COSMAX will provide tailored support for indie brands during the research and development and production process, while eBay Japan will leverage the influence of the Japanese e-commerce platform Qoo10 Japan to support the strategic entry and growth of K-indie brands with high growth potential.
Japan is a key export market where the rise of K-Beauty brands is especially prominent. According to the Japan Cosmetic Import Association, South Korean cosmetics accounted for more than 30% of Japan's total cosmetic imports last year, marking the first place for three consecutive years.
Previously, COSMAX proactively established a local subsidiary in anticipation of the growth potential of K-Beauty in the Japanese cosmetics market in 2022. Since then, the direct export amount of COSMAX to Japan has increased by an average of approximately 22% annually over the past three years.
Earlier this year, in preparation for the expanding demand in global markets such as Japan, COSMAX expanded its production capacity to over 3 billion units and established an 'all-around' system that allows for rapid support from research and development to production for indie brands. The company plans to enhance its support system for K-indie brands to include distribution strategies in collaboration with major platform companies.
The chairman noted, "In the future, the flow of the beauty market will shift from a brand-centered system to one led by consumers," and added, "COSMAX will leverage world-class research and development capabilities and a global supply chain to grow alongside its customers, presenting products that consumers want at the fastest and best prices."