Aekyung Signs Business Agreement with Chinese Cosmetics Company 'Proya'

Aekyung Industrial signed a business agreement to establish a partnership with the Chinese cosmetics company 'Proya Cosmetics.' The agreement ceremony held on the 25th was conducted online, with Aekyung Industrial CEO Jae-young Lim (left) and Proya Cosmetics CAO Liang Guo attending.

[Asia Economy Reporter Seungjin Lee] Aekyung Industrial announced on the 26th that it has signed a memorandum of understanding (MOU) to establish a partnership with the Chinese native cosmetics company ‘Proya Cosmetics’.

Through this agreement, Aekyung Industrial plans to expand and strengthen the offline market and sales of its representative cosmetics brand ‘AGE 20’s’ in China via Proya Cosmetics’ offline stores and distribution networks, and will conduct joint marketing activities with Proya Cosmetics to enhance brand awareness.

The AGE 20’s Essence Cover Pact has gained popularity among Chinese online consumers with its differentiated formulation and product quality, containing moisturizing essence within a solid foundation, achieving first place in sales rankings in the BB category on Tmall for three consecutive years during China’s Singles’ Day.

The signing ceremony held on the 25th at Aekyung Industrial’s headquarters in Mapo-gu, Seoul was conducted non-face-to-face considering the COVID-19 situation, with attendance from Aekyung Industrial CEO Jae-young Lim and Proya Cosmetics Deputy General Manager Cao Liang Guo, among other officials.

Proya Cosmetics is a Chinese native cosmetics manufacturer engaged in research and development, production, and sales of cosmetics, owning representative brands including its flagship brand Proya, as well as Uzero, Cat & Rose, Yuya, Anya, Hepsoad, Chaitang, and YNM.

An Aekyung Industrial official stated, “Through this agreement, we expect to strengthen offline sales channels and improve brand awareness in the vast Chinese consumer market.”