Kolmar Korea and Amazon collaboration to capitalize on global K-beauty demand
09 Jul 2024 --- Kolmar Korea partners with Amazon, the multinational e-commerce platform, to bring K-beauty brands to the global market.
In his welcome speech at the Amazon K-Beauty Conference Seller Day in Seoul, South Korea, Sang-hyun Yoon, VP of Kolmar Group, said the collaboration is more than just a business partnership:
“It aims to spread the innovation and value of K-beauty globally. We hope this event will be a cornerstone in exploring global opportunities for K-beauty and sharing detailed strategies for implementation.”
K-beauty boom
As K-beauty gains more popularity on the powerhouse e-commerce site, the two companies seem intent to encourage more South Korean beauty companies to actively enter international market.
Kolmar Korea points out that last year’s sales of K-beauty products on Amazon’s global store increased by more than 75%, demonstrating K-beauty’s popularity.
The company believes it is spearheading the trend, having signed new contracts with 253 clients, primarily independent brands — an increase of 48.7% over the previous year.
The partnership plans to finding “distinctive” brands with “innovative” ideas and new technologies that set global market trends.
Kolmar Korea points out that last year’s sales of K-beauty products on Amazon’s global store increased by more than 75%.Event marks new chapter
Kolmar Korea set up a booth at the event to display cosmetic packages, makeup and skin care products, and sun protection. It also offered specialized advice to the international cosmetics industry. “Deeply Grounded Confidence: The Competitiveness of Korean Cosmetics” was the lecture topic given by Sang-Keun Han, vice director of the Kolmar Korea R&D Complex.
A representative from Kolmar Korea said, “This event is significant as it marks the inaugural collaboration between Kolmar Korea, a global cosmetics ODM company that has driven the growth of K-beauty and Amazon, the world’s largest e-commerce company. Kolmar and Amazon will pursue shared growth by offering the optimal pathway to support our customers’ successful entry into global markets.”
Approximately 1,500 people attended the event, including representatives from Korean beauty brands and those working in the offline and online distribution and manufacturing industries.
K-beauty business and innovation
In other developments, Chowis, a provider of AI skin diagnostic solutions in South Korea, entered a strategic partnership with Kolmar Korea to develop a customized cosmetics diagnostic platform. The ODM company also developed an AI detector for alopecia, polymer network control and a cosmetic nanocarrier.
South Korea’s Ministry of Food and Drug Safety reported that the cosmetics trade is recovering. Its annual increase to US$8.5 billion was 6.4%, second only to the US$9.2 billion posted in 2021. The country is now the fourth largest cosmetics exporter, while imports fell 1.5% to US$1.3 billion.
Meanwhile, Kao discussed why Asian consumers combine mental and physical health to achieve beauty goals.
By Venya Patel
