[THE INVESTOR] Cosmetics maker Cosmax
has signed an agreement with US-based skincare firm Nerium International to develop new products related to bio-health and cosmetics, a spokesperson for the Korean company said on June 23.
Through the newfound partnership, Cosmax hopes to widen its laboratory research of ingredients and development of fresh products. The results of the collaboration will be sold in the US and Korea, and eventually the potential markets of Japan, Hong Kong, and Australia.
Headquartered in Texas, Nerium International was launched in 2011 and has been displaying exponential growth over the years with annual profit of US$500 million and 500 employees.
The Korean makeup company expects 200 billion won (US$173 million) global revenue over a 5-year period from the agreement.
By Jung Min-kyung (email@example.com