Fashion
South Korean cosmetics developer/manufacturer Cosmax Inc is to run an online flagship store on China’s Tmall.com.
It has signed an agreement with online retail giant Alibaba Group Holding to establish the eCommerce platform to distribute Korean beauty products across China.
Under the contract, Cosmax will be Korea’s first multi-shop dealer for various cosmetics brands on Tmall.com, China’s largest third-party platform for brands and retailers.
The launch of the Cosmax platform is expected to help expedite the China Food and Drug Administration (CFDA) hygiene approval process for Korean cosmetics companies.
Cosmax, which entered China in 2003, has cosmetics factories in Guangzhou and Shanghai. It earned more than 200 billion won (US$181.1 million) in China alone last year.
