"Targeting the Top 10 Beauty Markets in the U.S., China, and Japan"—HYUNGJI ELITE INC. Forms Strategic Partnership with COSMAX

[Financial News] HYUNGJI ELITE INC. announced on the 9th that it has signed a strategic memorandum of understanding (MOU) with COSMAX, a global cosmetics research, development, and manufacturing (ODM) company, to expand into the global beauty market.
This agreement aims to secure new growth momentum in the next-generation K-beauty sector by establishing a strong presence in the rapidly growing Generation Z (Gen Z) beauty market.
Through this collaboration, HYUNGJI ELITE INC. seeks to establish a business structure that encompasses everything from brand planning to product development based on global research and innovation (R&I), production infrastructure, and expanded distribution channels.
Leveraging its school uniform infrastructure, HYUNGJI ELITE INC. will strengthen its partnership with COSMAX using its data and marketing capabilities related to teenage consumers. The company plans to analyze the skin concerns and product preferences of teenagers to advance into overseas beauty markets such as China, Japan, and the United States of America (U.S.A.).
In China, the company will target the market using its student uniform infrastructure and distribution network. In Japan, where it is also preparing to enter the school uniform market, HYUNGJI ELITE INC. will simultaneously pursue entry into the beauty sector.
A representative from HYUNGJI ELITE INC. stated, "Through our collaboration with COSMAX, we aim to expand our reach into the beauty sector for teenagers and introduce an eco-friendly brand that genuinely resonates with them."
unsaid@fnnews.com Kang Myung-yeon Reporter