Cosmax surpasses 2 trillion won in annual revenue

Cosmax, a leading original design manufacturer (ODM) of cosmetics, surpassed 2 trillion won, or won, in annual revenue for the first time last year. Since surpassing 1 trillion won in revenue in 2018, the company has doubled its sales in just seven years, driven by the growth of K-beauty.

Cosmax announced on Monday that its revenue for last year reached 2.1661 trillion won, marking a 21.9% increase from the previous year. Operating profit rose 51.6% to 175.4 billion won, while net profit surged 133.9% to 88.4 billion won. The company’s South Korean operations generated 1.3577 trillion won in revenue and 138.7 billion won in operating profit, up 28.4% and 59.8% year on year, respectively. Revenue from its Chinese subsidiary increased 4.9% to 574.3 billion won, while its Indonesian subsidiary posted a 31.9% increase to 113.2 billion won, surpassing the 100 billion won mark for the first time since its establishment in 2011. In contrast, revenue from its U.S. subsidiary declined by 2% year-on-year to 137.1 billion won.

"With new clients coming in from the U.S. since the end of last year, we expect to see a full-scale increase in revenue this year," a Cosmax representative stated. The company expressed its commitment to securing new clients in India, Latin America, and Africa in addition to its existing customer base.


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