JAYJUN Cosmetic "JAYJUN H&B Signs 56 Billion KRW Cosmetics Export Contract with Middle East"

[Asia Economy Reporter Yoo Hyun-seok] Jayjun Cosmetic's affiliate Jayjun H&B has succeeded in securing an additional contract following a primary export contract worth 37 billion KRW in the Middle East region. Including this contract, the total contract amount for this year has reached 56 billion KRW.

On the 8th, Jayjun H&B announced that it signed an expanded export contract worth 56 billion KRW with Saudi Arabia's 'Dananoo' for products including Eye Gel Patch, Volume Tox, and the premium brand Lesome cosmetics. This contract is an expansion of the initial export contract worth 37 billion KRW signed in March.

With this contract, four additional countries?Bahrain, Qatar, Oman, and Kuwait?have been added to the existing export destinations of Saudi Arabia and the United Arab Emirates, expanding the export countries to six.

Accordingly, Jayjun H&B plans to export Eye Gel Patch, Volume Tox, premium brand Lesome cosmetics, as well as Jayjun Cosmetic's mask packs and skincare products. The overall export operations will be handled by Jayjun H&B and 'SR Partners,' an excellent company selected by Gyeonggi Province, just as with the first export contract.

A Jayjun Cosmetic official stated, "With the first export contract, Eye Gel Patch and others have established themselves as hit products in the Middle East, leading to the expanded export contract. The first order has already been placed, and additional orders are underway." He added, "K-Beauty is receiving great responses in the Middle Eastern market, and Jayjun Cosmetic expects exports of approximately 56 billion KRW on a consolidated basis over three years. We plan to expand exports by targeting emerging overseas markets such as Southeast Asia, Central Asia, and Africa, as well as the Middle East."

Jayjun Cosmetic is expanding its entry into emerging markets through ▲listing in Myanmar's largest retailer 'City Mart Holdings,' ▲entry into Africa's leading e-commerce channel Jumia and beauty online channel Macilia, and ▲entry into large H&B stores, major retail stores, and online channels in Kazakhstan.