Pharmaresearch is teaming up with Shanghai Chicmax Cosmetic (CCM) to penetrate the Chinese cosmetics market.
On September 21, Pharmaresearch announced that it has signed a strategic cooperation memorandum of understanding (MOU) with CCM to expand the reach of 'Rejuran Cosmetic' in China.
CCM is a leading investment-driven cosmetics brand management company in China. Established in 2002, it operates across six business sectors, including mass skincare, maternal and infant care, youth care, personal care, color cosmetics, dermacosmetics, and premium skincare.
The company owns several Chinese cosmetic brands, including 'Kans,' 'newpage,' and 'ARMIYO.' Last year, it reported sales of approximately 1.9 trillion won, ranking second among Chinese cosmetics groups.
The agreement aims to strengthen the entry and localization of Rejuran Cosmetic in the Chinese market. The two companies plan to establish a joint venture (JV) to collaboratively promote product supply and local operations.
Pharmaresearch is considering supplying finished Rejuran Cosmetic products, developing products tailored to Chinese consumers and market characteristics, and leveraging the Rejuran Cosmetic brand for business initiatives. The specific business structure and scope of cooperation are expected to be finalized by the end of this year.
A Pharmaresearch representative stated, "We are building a manufacturing and supply chain system that can apply our technology in key countries for the global expansion of Rejuran Cosmetic. We will accelerate our commercialization in China by collaborating with CCM, which has expertise in product research and development (R&D), brand building, and business operations."
Meanwhile, analysts predict that Pharmaresearch's annual sales for this year will reach 697.8 billion won, a 30.1% increase from the previous year. Operating profit is expected to rise by 20.5% to 258.3 billion won.
The growth of the cosmetics sector is particularly rapid. In the second quarter, cosmetics sales reached 60.2 billion won, a 95.5% increase compared to the same period last year. Cumulatively, sales for the first half of the year reached 102.3 billion won, up 74.3%. Domestic sales in the second quarter were 16.6 billion won, a 46.9% increase, while exports surged to 43.6 billion won, a 123.6% rise.
Sangsangin Securities has analyzed that Rejuran cosmetics are emerging as a new growth driver for Pharmaresearch. With the rapid expansion of online and offline distribution networks, including Sephora in the United States, cosmetics exports are expected to lead the company's overall performance growth.
On September 21, Pharmaresearch announced that it has signed a strategic cooperation memorandum of understanding (MOU) with CCM to expand the reach of 'Rejuran Cosmetic' in China.
CCM is a leading investment-driven cosmetics brand management company in China. Established in 2002, it operates across six business sectors, including mass skincare, maternal and infant care, youth care, personal care, color cosmetics, dermacosmetics, and premium skincare.
The company owns several Chinese cosmetic brands, including 'Kans,' 'newpage,' and 'ARMIYO.' Last year, it reported sales of approximately 1.9 trillion won, ranking second among Chinese cosmetics groups.
The agreement aims to strengthen the entry and localization of Rejuran Cosmetic in the Chinese market. The two companies plan to establish a joint venture (JV) to collaboratively promote product supply and local operations.
Pharmaresearch is considering supplying finished Rejuran Cosmetic products, developing products tailored to Chinese consumers and market characteristics, and leveraging the Rejuran Cosmetic brand for business initiatives. The specific business structure and scope of cooperation are expected to be finalized by the end of this year.
A Pharmaresearch representative stated, "We are building a manufacturing and supply chain system that can apply our technology in key countries for the global expansion of Rejuran Cosmetic. We will accelerate our commercialization in China by collaborating with CCM, which has expertise in product research and development (R&D), brand building, and business operations."
Meanwhile, analysts predict that Pharmaresearch's annual sales for this year will reach 697.8 billion won, a 30.1% increase from the previous year. Operating profit is expected to rise by 20.5% to 258.3 billion won.
The growth of the cosmetics sector is particularly rapid. In the second quarter, cosmetics sales reached 60.2 billion won, a 95.5% increase compared to the same period last year. Cumulatively, sales for the first half of the year reached 102.3 billion won, up 74.3%. Domestic sales in the second quarter were 16.6 billion won, a 46.9% increase, while exports surged to 43.6 billion won, a 123.6% rise.
Sangsangin Securities has analyzed that Rejuran cosmetics are emerging as a new growth driver for Pharmaresearch. With the rapid expansion of online and offline distribution networks, including Sephora in the United States, cosmetics exports are expected to lead the company's overall performance growth.
* This article has been translated by AI.
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