Coloray Solidifies Position as No.1 in Overall China Market Share

[Asia Economy Reporter Ji-hwan Park] ColorRay announced on the 2nd that it aims to solidify its position as the number one market share holder in the pearl pigment market in China this year through aggressive marketing.

ColorRay presented three key goals to drive the expansion of pearl pigment sales: expanding domestic sales in China, expanding sales in overseas markets, and expanding sales in the Korean market.

Currently, ColorRay is conducting intensive marketing targeting Chinese local color brands to expand domestic sales in China. It counts many Chinese local brands, including Perfect Diary and Huaxizi, the largest color brands in China, as clients, and plans to accelerate the expansion of domestic sales centered on these brands.

It also plans to grow overseas sales performance by expanding its sales network in the US and European markets. It has clients such as L'Or?al and Est?e Lauder in the US, and its products are used as raw materials by luxury European brands like Chanel and Dior. This year, it plans to launch numerous new products to expand the range of items and delivery scale.

It will also pursue meaningful achievements by strengthening sales capabilities in the Korean market, a major sales channel for overseas markets. Currently, ColorRay supplies cost-effective and high-quality pearl products to major OEM and ODM companies such as Kolmar Korea and Cosmax, achieving visible results.

A ColorRay official stated, “We expect the suppressed demand for color cosmetics in 2022 to explode, leading to a recovery in the industry,” adding, “With the expansion of the new factory and cost reduction, we have secured production capacity and sufficient price competitiveness, and we will do our best to benefit from the market recovery.”