Cosmetics ODM company Cosmax announced on July 13 that it has signed a joint venture agreement with Japanese beauty distributor Fujishin to establish a new company called Trinex.
Fujishin is a leading beauty distributor in Japan, supplying hair care, skin care, and beauty devices to approximately 20,000 salons nationwide. Under the joint venture, Cosmax will hold a 51% stake, while Fujishin will own 49%.
The two companies plan to create a business model that combines Cosmax's AI-based customized cosmetics formulation and manufacturing technology with Fujishin's salon distribution network. Cosmax will handle product planning and production management, while Fujishin will focus on marketing and distribution.
Cosmax aims to accumulate operational experience and consumer data in Japan before expanding its business model to the United States and Italy. Lee Byung-joo, CEO of Cosmax BTI, stated, "This joint venture is the first instance of directly implementing Cosmax's AI customization technology and local distribution capabilities in the overseas market for customized cosmetics. We aim to set a new standard for customized cosmetics in the global market."
Meanwhile, Cosmax reported a record high consolidated revenue of 682 billion won in the first quarter of this year, a 16% increase compared to the same period last year. Operating profit rose by 3% to 53 billion won.
* This article has been translated by AI.
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