【South Korea】Cosmax Expands from Development to Design: The Rise of a K-Beauty ODM Giant

Cosmax, a leading global cosmetics ODM (Original Design Manufacturer), is positioning itself as a curator for small and indie brands entering overseas markets, solidifying its role as a global cosmetics manufacturing hub. Leveraging its strong presence in advanced beauty markets such as the U.S. and Europe, the company is actively expanding into new territories, reinforcing its status as the world's top cosmetics ODM. Cosmax first entered the Chinese market in 2004 by establishing Cosmax China, becoming the first Korean cosmetics company to do so. In 2013, it challenged the U.S. market through Cosmax USA. In ASEAN, where the Korean Wave is strong, the company set up subsidiaries in Indonesia (2011) and Thailand (2018), focusing on localization including halal certification. This year, Cosmax is accelerating global expansion and diversification. It plans to extend its influence from Indonesia and Thailand into neighboring regions, particularly South Asia and the Middle East, by enhancing R&D capabilities. An Indian sales subsidiary was launched early this year. The company also aims to expand joint sales among overseas subsidiaries and increase its footprint in emerging markets like the Middle East, South America, and Africa. In February, Cosmax acquired a 51% stake in Italian cosmetics firm Keminova, securing its first production base in Europe. Keminova, with an annual production capacity of about 20 million units, specializes in dermocosmetics, hair care, and medical devices, and is expected to synergize with Cosmax to advance K-beauty technology.

To mark its 20th anniversary in China, Cosmax is building a new headquarters in Shanghai's Xinzhuang Industrial Zone, set to be completed in the second half of the year. This will expand local annual production capacity to approximately 1.6 billion units. Notably, Cosmax is evolving beyond traditional OEM and ODM models into OBM (Original Brand Manufacturing). This new business model encompasses brand identity, container design, and product design, delivering complete brand solutions to clients. The company aims to transform from an 'invisible manufacturer' into a 'market designer' that directly participates in and leads the market. Cosmax began its OBM efforts in 2019, refined the service through 2020, and fully launched in 2021. Over the past four years, it has launched about 100 brands, including new brands for existing clients, private labels for major H&B stores and e-commerce platforms, and influencer brands. OBM operations are now active in Indonesia and Thailand.

A company representative stated, "The market paradigm is shifting from 'who produces' to 'who plans, brands, and communicates with consumers.' We will provide a truly total solution." Cosmax's strategy is to maximize its grip on the global cosmetics manufacturing industry under the motto 'Speedily, Widely, Deeply.' Key competitive strengths include ultra-fast product development cycles, high quality from advanced functional ingredients and formulation technologies, regulatory compliance with global standards, and trend leadership. To enhance quality, Cosmax is combining next-generation bio-formulation technologies with inner beauty capabilities to offer differentiated fusion solutions. Examples include the industry's first commercially available bio-synthetic recombinant PDRN, PDRN nanoparticle technology for enhanced absorption, and antioxidant enzyme (SOD) technology derived from extremophilic microorganisms.

Cosmax plans to strengthen collaborations with global luxury brands, directly export to 34 countries, and spread K-beauty to over 100 countries through more than 5,000 domestic and international clients. Another company representative emphasized, "K-beauty's territory is diversifying into the U.S. and Europe, driven by excellent technology and fast development, entering a true globalization phase. We will continue to act as a 'K-beauty curator,' helping small indie brands with fresh ideas connect with global consumers and expanding a co-growth ecosystem."

Source: Read the original report | Published: May 19, 2026