Cosmetics OEM/ODM specialist Imine announced on March 29 that its Q1 revenue surpassed KRW 40.9 billion (approx. USD 31 million) for the first time in company history, a 22% increase year-on-year. Operating profit rose 27% to KRW 3.2 billion. The strong performance was driven by the hydrogel category, which grew 42% YoY, and the basic skincare category, up 40.3% YoY. Key ODM products included COSRX hydrogel eye patches (approx. 2 million units sold in Q1) and L&P Cosmetic's Mediheal hydrogel masks (nearly 2.8 million units). In overseas markets, a US skincare brand's basic skincare line grew 43% YoY, while a Japanese brand surged 54%, indicating simultaneous expansion in North America and Japan. Cumulative orders in Q1 increased over 40% YoY, with collaborations with global luxury brands and major distributors accelerating. An Imine official stated: 'The stable growth of the hydrogel category, combined with rapid expansion in overseas basic skincare, drove the strong Q1 results. We plan to strengthen our mid- to long-term growth foundation by advancing R&D capabilities, diversifying global clients, and developing eco-friendly, proprietary raw materials.'
Source: Read the original report | Published: April 29, 2026