"Aiming for the Teen Beauty Market"... Hyungji Elite Signs Business Agreement with Cosmax

Securing New Growth Engines in the Eco-Friendly Gen Z Beauty Market
Pursuing Expansion into the United States, China, and Japan

Hyungji Elite announced on December 9 that it has signed a strategic business agreement (MOU) with Cosmax, a cosmetics original development manufacturing (ODM) company, to enter the Gen Z beauty market.

The signing ceremony was held on December 8 at the Hyungji Global Fashion Complex Center in Songdo, where Hyungji Elite's headquarters are located. The event was attended by Choi Junho, CEO of Hyungji Elite, Lee Byungman, CEO of Cosmax, and key executives from both companies.

(From left) Choi Junho, CEO of Hyungji Elite, and Lee Byungman, CEO of Cosmax, are posing for a commemorative photo after the "Hyungji Elite-Cosmax Strategic Partnership Agreement Ceremony." Provided by Hyungji Elite

This agreement was pursued to secure new growth engines by targeting the rapidly expanding Gen Z beauty market. Hyungji Elite plans to combine its data on teenage and parent customer segments with Cosmax's research and manufacturing capabilities to create synergy in the global market. Based on this, the goal is to expand into overseas beauty markets, including China, Japan, and the United States.

Hyungji Elite aims to leverage its strong student uniform infrastructure and distribution network in China to enter the Chinese beauty market. With its entry into the Japanese school uniform market imminent, the company also plans to target the Japanese market, where there is high interest in K-beauty. Building on this foundation, Hyungji Elite intends to create synergy by targeting both the global school uniform market and the beauty market for teenagers, including in the United States.

Hyungji Elite plans to utilize the teenage target data accumulated through its flagship brand, 'Elite School Uniform,' as a core asset. The company will analyze teenagers' skin concerns and preferred products, and enhance product quality by integrating Cosmax's technological expertise.

A Hyungji Elite representative stated, "This agreement is more than just a new business venture; it marks a turning point where Hyungji Elite will expand its insights into the teenage target segment into the beauty sector, creating new value." The representative added, "Through close cooperation with Cosmax, we will introduce an eco-friendly beauty brand that can authentically connect with Gen Z."