Partnering with Shopee to Expand K-Beauty in Southeast Asia
Sun Care Product Sales Double Year-on-Year
Established Indonesian Subsidiary in 2012... "New Factories to Be Built in Thailand and Beyond"
"We Will Strategically Leverage Cosmax and Shopee's Capabilities"
Cosmax, a cosmetics ODM (Original Development Manufacturing) company, is partnering with Shopee, Southeast Asia's largest e-commerce platform, to support K-Beauty companies in entering the Southeast Asian market.
On the 10th, Choi Kyung, Vice Chairman of Cosmax, participated as a speaker at the '2025 Shopee Korea K-Beauty Summit' held at Lotte World Tower in Songpa-gu, Seoul, where he presented localization strategies for K-Beauty brands targeting Southeast Asia. Cosmax was listed as an official sponsor of the event.
On the 10th, Choi Kyung, Vice Chairman of Cosmax, is presenting the K-Beauty Southeast Asia expansion strategy at the '2025 Shopee Korea K-Beauty Summit' held at Lotte World Tower in Songpa-gu, Seoul. Provided by Cosmax.
Vice Chairman Choi stated, "Southeast Asian consumers place high importance on quality, brand trustworthiness, and trendiness when purchasing cosmetics. Therefore, collaborating with reliable local partners and developing effective marketing strategies are essential factors for market entry and expansion." He further explained, "Cosmax entered the Southeast Asian market more than 10 years ago and, based on our diverse successful experiences with both global and local clients, we are able to provide differentiated services."
Since establishing its Indonesian subsidiary in 2012, Cosmax has grown over the past 13 years to become a leading cosmetics ODM company in the Southeast Asian region. Cosmax Indonesia surpassed annual sales of KRW 100 billion for the first time last year, driven by products using natural ingredients derived from native plants and localized strategy products developed through consumer analysis. The Thai subsidiary, established in 2018, has recorded double-digit growth every year thanks to the popularity of small-sized pouch cosmetics tailored to the local market. Last year, it achieved profitability for the first time in six years since its founding.
Recently, sun care products have been particularly prominent. The sun care market in Southeast Asia, including Indonesia and Thailand, has been experiencing rapid growth, with sales in both countries more than doubling year-on-year in 2024. Cosmax’s success in expanding its sun care business in Southeast Asia is attributed to carefully crafted strategies based on a thorough understanding of each country's climate and culture. Cosmax has expanded its offerings of non-whitening, non-sticky gel-type products suitable for hot and humid climates. Additionally, by considering cultural factors such as rising income levels and the increasing prevalence of nuclear families centered on the MZ (Millennial and Generation Z) demographic, Cosmax boldly introduced products like sun care for infants and 'tinted sun' products that combine sun protection with color cosmetics, which have gained popularity.
This year, Cosmax plans to build new factories in both Thailand and Indonesia. The company is also establishing sales offices in neighboring countries such as Malaysia and Vietnam, taking the lead in promoting K-Beauty technology across Southeast Asia. According to global data analytics firm Euromonitor, the Indonesian beauty and personal care market is expected to grow to approximately 200 trillion rupiah (about KRW 17.11 trillion) by 2029, representing a 43.5% increase compared to 2024. During the same period, the Thai market is also projected to expand by 35.6% to around 350 billion baht (about KRW 13.53 trillion).
In his presentation, Vice Chairman Choi emphasized, "Cosmax prides itself as an expert in the Southeast Asian market within the cosmetics industry. We will strategically provide services to create local success stories by ensuring smooth product supply through local production, developing formulations tailored to the Southeast Asian market, and utilizing local market data held by both Cosmax and Shopee."
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