To Accelerate Penetration of Global Cosmetics Market
Kolmar Korea, a cosmetics ODM company in Korea, has acquired the Kolmar brand trademark from the Kolmar Group of the United States.
Kolmar Korea Holdings announced on May 17 that it has acquired all Kolmar trademark rights from the Kolmar Group. They agreed to keep the acquisition price under wraps.
“The ownership of the Kolmar brand, which started in the United States 100 years ago, has passed from a U.S. company to a Korean company,” said Yoon Sang-hyeon, vice chairman of Kolmar Korea who led the acquisition of the trademark.
The Kolmar Group posted annual sales of 1,586.3 billion won in 2021. It is a cosmetics ODM company established in the United States in 1921. Since then, cosmetics ODM companies established in other countries have also shared the name and cooperated in R&D. In Korea, Yoon Dong-han, chairman of Kolmar Korea, the father of vice chairman Yoon Sang-hyun, established a joint venture company with Kolmar Japan in 1990. Kolmar Korea has more than 700 customers, including Lancome, Estee Lauder, Amorepacific, and LG Household & Health Care.
Kolmar Korea plans to speed up its penetration into the global market. To target the North American market, Kolmar Korea will start operating its North American technology sales center, which is being built in New Jersey, within 2022.
Kolmar Korea acquired Process Technology & Packaging (PTP) in the United States and Cosmetic Solutions (CSR) in Canada to respond quickly to changes in the local markets. The company will also establish a base in Singapore within 2022 to develop the Southeast Asian and Middle Eastern markets.