Industry insiders are examining the Cosmax booth set up at "Cosme Week Tokyo 2023," held in Tokyo, Japan, from the 11th to the 13th of this month. Photo by Cosmax
Cosmax, a cosmetics research, development, and manufacturing (ODM) company, has launched a full-scale market entry just one year after establishing its Japanese subsidiary.
Cosmax Japan announced on the 19th that it participated in 'Cosme Week Tokyo 2023,' held at Tokyo Big Sight from the 11th to the 13th of this month.
Cosme Week is Japan's largest comprehensive B2B and B2C cosmetics industry exhibition. Over 700 companies from 17 countries worldwide participate, and the event is organized into six sections. Among them, the 'Cosmetics Development Exhibition,' in which Cosmax participated, featured 250 cosmetics manufacturers showcasing their research and development capabilities.
Cosmax operated the largest booth in the same section, covering 108㎡, emphasizing K-Beauty technology and global competitiveness.
According to Cosmax, K-Beauty products, especially color cosmetics, are gaining popularity in Japan as so-called 'Petit Price' items, offering excellent quality at reasonable prices. As of 2021, Korea's cosmetics exports to Japan surpassed 1 trillion won for the first time. According to the Korea International Trade Association, in the first half of last year, Korea overtook France to become Japan's top cosmetics importer.
Cosmax highlighted its research and development capabilities that have captured the hearts of local consumers, targeting local client companies. Cosmax operates over 800 R&D personnel worldwide.
Through this exhibition, Cosmax also actively promoted its production base in Japan. The company plans to operate a factory in Bando City, Ibaraki Prefecture, on the outskirts of Tokyo by 2025. It signed a contract for a 16,000㎡ site last year and plans to start construction in the first half of this year. Cosmax's strategy is to secure not only local clients through local production but also overseas clients wishing to export to Japan.
Ajaeseon, CEO of Cosmax Japan, explained, "At this exhibition, Cosmax showcased formulations targeting the Japanese market, introduced global networking utilizing overseas factories, and emphasized our Original Brand Manufacturing (OBM) capabilities. We plan to accelerate efforts to secure potential customers aiming not only at existing Japanese cosmetics companies but also new entrants."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
