Kolmar Korea expands into beauty, healthcare via M&As
Korea has been expanding its presence in the beauty and healthcare industries by acquiring a sheet mask plant and other companies to compete with Cosmax and other rivals. Kolmask, a sheet mask manufacturing unit of Kolmar Korea, took over Jayjun Cosmetics’ Incheon plant in July with an aim to stretch its business abroad.
The Incheon plant is sized at 6,612 square meters of land and has a total floor area of 14,231 square meters. It is capable of producing 250 million sheet masks per year.
With the latest acquisition, Kolmask will be able to achieve stable sales by producing supplies that were manufactured previously by Jayjun Cosmetics.
“Our annual production capacity will likely reach 400 million sheet masks. The company will continue to expand its original development manufacturing (ODM) business” a Kolmar Korea official said.
Kolmar Korea’s ODM network provides a comprehensive service from market research and trend analysis to product planning, development, manufacturing, management and shipment.
In addition, the company has been working to attract Chinese customers through Jayjun Cosmetics’ distribution channels in China.
“Kolmask aims to make a smooth entry into China, Southeast Asia and North America and grow into top global sheet mask manufacturer within the next five years,” the official said.
Meanwhile, Kolmar Korea is also ratcheting up efforts to create synergy between the cosmetics and biopharmaceutical sectors.
It took over a 57 percent stake recently in TKM, a biopharmaceutical subsidiary of TS Corporation. It will exercise management control as the largest shareholder.
TKM started as a biopharmaceutical business unit of TS Corporation in 2002 but became a separate company in March this year.