Cosmax and L’Oréal expand cosmetics development partnership
South Korean cosmetics manufacturer Cosmax and French group L’Oréal signed a memorandum of understanding in Paris, France, on the joint development of next-generation cosmetic products, ingredients and formulas. The ceremony took place on Tuesday on the sidelines of a South Korea-France summit marking the 140th anniversary of diplomatic relations between the countries, Korea Herald reports.
Joint research and new formats
The companies plan to combine L’Oréal’s expertise in cosmetic science, consumer preference research and work with a global brand portfolio with Cosmax’s capabilities in product development and research infrastructure.
The partners are to research and create innovative cosmetic ingredients and active substances. They will also work on new formulas and product formats inspired by Korean beauty industry trends and consumer preferences.
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Cooperation has lasted more than 20 years
Cosmax began supplying products to L’Oréal in 2004. Subsequently, the companies’ cooperation expanded beyond conventional manufacturing relations to include research and development. In 2023, they concluded an agreement on joint research into ingredients for the skin microbiome, as well as the creation of sustainable and environmentally safe formulas.
Cosmax CEO Choi Kyung said the companies would build on the trust and cooperation accumulated over more than 20 years. L’Oréal Group head Nicolas Hieronimus said beauty is a living bridge between the cultures of the two countries and a strategically important industry.
