Kolmar Korea Co., South Korea’s leading cosmetics and pharmaceuticals contract manufacturer, aims a new leap as a comprehensive beauty platform for broader global reach.
“We will make another leap forward to become the world’s No. 1 platform service company that will allow anyone, including both our clients and consumers, to use our business as infrastructure to build their own business,” Yoon Sang-hyun, chief executive officer of Kolmar Korea, said on Monday during an event to celebrate the company’s 30th anniversary.
Kolma Korea, which has built its business as cosmetics original design manufacturer (ODM) involved in the entire process of new product development – from product design, development, production and quality maintenance – aims to capitalize on its knowhow and manufacturing infrastructure to supply customized beauty service.
Its service can include training programs for cosmetics entrepreneurs to guide them to design, develop, and make beauty products. Its customers will also be allowed to use Kolmar Korea’s international business network for overseas sales, according to the company.
The company will also scale up pharmaceutical and healthcare businesses.
It has been fostering the growth of its pharmaceutical business around HK inno.N Corp., a pharmaceutical and functional beverage making affiliate that it acquired in 2018. Formerly CJ Healthcare, HK inno.N is a maker behind K-CAB Tab, original gastroesophageal reflux disease drug that is sold in 21 countries across the world. The drug also has generated revenue of over 10 billion won ($8 million) in just one year of its launch. HK inno.N is also readying to introduce medication for dermatitis and functional products for hair loss this year.
The functional food division at Kolmar BHN Co. will be expanded.
The company currently is building two functional food making plants in China. The two plants, which will be built by the end of this year, will be capable of producing 12,500 tons of functional food products every year.
Established in 1990, Kolmar Korea is the pioneer of the country’s cosmetics original development manufacturing industry. It makes products for 500 some cosmetics brands, ranging from budget labels at home to global luxury brands.
Its revenue totaled 2.2 trillion won in 2019, nearly doubled from 1.37 trillion won reported in 2017.
By Shin Soo-hyun and Cho Jeehyun
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