Cosmax and L'Oréal to Jointly Develop Next-Generation Cosmetic Ingredients and Products

MOU Signed to Mark the 140th Anniversary of Korea-France Diplomatic Relations
Kyung Choi, Vice Chairman of COSMAX: "We Will Create Next-Generation Innovations"

COSMAX, an ODM company specializing in cosmetics research, development, and manufacturing, and the French cosmetics giant L'Oréal Group have announced that they will jointly develop next-generation cosmetic ingredients and products to mark the 140th anniversary of diplomatic relations between Korea and France.

COSMAX announced on September 9 that it signed a memorandum of understanding (MOU) with L'Oréal on September 8 (local time) in France to collaborate on beauty innovation. The signing ceremony was attended by Jung-Kwan Kim, Minister of Trade, Industry and Energy, and Nicolas Forissier, Special Envoy for Trade at the French Ministry for Europe and Foreign Affairs. Kyung Choi, Vice Chairman of COSMAX, and Nicolas Hieronimus, CEO of L'Oréal Group, signed the agreement.

At the MOU signing ceremony held on the 8th (local time) in Paris, France, (from left) Nicolas Forissier, Special Minister for European and Foreign Trade of the French Ministry of Europe and Foreign Affairs, Nicolas Hieronimus, CEO of L'Oréal Group, Kyung Choi, CEO (Vice Chairman) of COSMAX, and Jungkwan Kim, Minister of Trade, Industry and Energy, posed for a commemorative photo. Provided by COSMAX.

Vice Chairman Choi emphasized, "Based on the trust and collaboration built over more than 20 years, we will together shape the next generation of innovations led by K-beauty." CEO Hieronimus noted, "Cosmetics are a living bridge connecting the cultures of both countries and a strategic core industry. By combining the strengths of both companies, we will offer consumers around the world new beauty experiences."

The two companies will move forward with joint development of cosmetics, innovative raw materials, and active ingredients for the global market. They also plan to research new cosmetic formulations and product formats that reflect the Korean beauty market and consumer trends. The collaboration aims to integrate COSMAX's ODM and R&D capabilities with L'Oréal's consumer analysis data and brand management expertise.

COSMAX has been supplying cosmetics to L'Oréal since 2004, maintaining a partnership for over 20 years. The two companies have expanded their cooperation beyond simple product supply to collaborative research and development. In 2023, they signed an agreement to jointly develop skin microbiome ingredients and environmentally friendly cosmetic formulations.

 

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