Cosmax, 20th Anniversary of Entry into China... "Groundbreaking of New Headquarters Planned for 2026"

2004 Shanghai, 2013 Guangzhou Expansion

Cosmax, a cosmetics original design manufacturing (ODM) company, announced on the 15th that it held a commemorative ceremony to mark the 20th anniversary of its entry into the Chinese market.

Cosmax China, Cosmax's Chinese subsidiary, held the 20th anniversary ceremony at its Shanghai headquarters on the 8th. The ceremony was attended by key figures within the group, including Lee Kyung-soo, Chairman of Cosmax Group, Shim Sang-bae, CEO (Vice Chairman) of Cosmax China, and Lee Byung-man, CEO of Cosmax BTI. During the ceremony, six employees who have worked at Cosmax China since its establishment and have completed 20 years of service were awarded long-term service awards. Additionally, a plaque of appreciation was presented to Choi Kyung, CEO (Vice Chairman) of Cosmax, who led Cosmax China until last year.

Exterior view of the Cosmax China factory.
[Photo by Cosmax]

Cosmax was the first domestic cosmetics ODM company to enter the Chinese market in 2004. In 2013, it established Cosmax Guangzhou. Currently, it operates seven factories in China, with an annual total production capacity (CAPA) reaching 1.49 billion units.

To target the Chinese market, Cosmax China has operated a local R&I (Research & Innovation) center, developing products tailored to the skin and preferences of customers and consumers. It also built an all-around system to support all areas from product planning, research and development, production, to manufacturing.

This system effectively reduced the time required from product request to launch by 2 to 3 months, responding well to the fast product replacement cycle in the online cosmetics market. As a result, Cosmax surpassed 100 billion KRW in sales for the first time in 2014 and exceeded 660 billion KRW in 2021. Currently, the number of customers in China reaches about 1,000.

To celebrate its 20th anniversary, Cosmax China plans to build a new headquarters with a target completion in 2026. The new building site has been secured in the Xinzhuang Industrial Zone in Shanghai. It will be constructed on a 13,000㎡ (approximately 4,000 pyeong) site with a total floor area of 73,000㎡ (approximately 22,000 pyeong). The space will be designed to accommodate all aspects of the cosmetics ODM business?from research to production to marketing?in one location.

Lee Byung-man, CEO of Cosmax BTI, who oversees the China business, emphasized, “The growth of the Chinese subsidiary was made possible through the efforts of all members of the Chinese corporation as well as organic cooperation with Korea. Moving forward, we must continue to practice localization and customer satisfaction while preparing for the next 20 years.”