Kolmar Korea Sees Improved Business Outlook Due to Chinese Tour Groups and Business Partnerships
Key Highlights :
Kolmar Korea, a leading cosmetics original design manufacturer, is seeing an improved business outlook due to the return of Chinese tour groups and growing business partnerships with U.S. and other foreign cosmetics firms, according to securities analysts, Monday. The Chinese government has recently allowed its nationals to travel in groups to 78 countries around the world, including Korea. This is the first time in six years that Chinese tour groups will visit Seoul.
Hana Securities researcher Park Eun-jung said, “Incoming tour groups from China will create momentum for the cosmetics firm's stock price to rise. We also expect Kolmar Korea to gain more orders in the United States while benefiting from the economic recovery in China and business improvement in the domestic market.”
Kolmar Korea's consolidated operating profit between April and June was 55.7 billion won, up 66 percent year-on-year. Its sales rose 19 percent to mark 599.7 billion won. Sales from original design manufacturing businesses both domestic and overseas soared 24 percent and 73 percent, respectively. Hana Securities adjusted its target stock prices for the beauty and bio health care company from 60,000 won ($45.10) to 75,000 won with an expectation that Kolmar Korea will benefit from influx of Chinese visitors.
A Kolmar Korea official said, “The company showed notable performance in the second quarter of this year, thanks to handsome sales of sunblock products. We also expect sales from local cosmetics brands to increase in the second half with tour groups coming from China.”
Kolmar Korea is taking advantage of the rising demand for Korean cosmetics from the Chinese market. The company has been increasing its presence in the Chinese market by partnering with local companies and opening its own branches. It has also been expanding its partnerships with U.S. and other foreign cosmetics firms.
The company is also focusing on developing innovative products that meet the needs of the Chinese market. It has been investing heavily in research and development to create products that are tailored to the needs of Chinese consumers.
Kolmar Korea is also taking advantage of the growing trend of e-commerce in the Chinese market. It has been investing in online marketing and advertising to reach more Chinese consumers. It has also been working with Chinese e-commerce platforms to increase its presence in the Chinese market.
Kolmar Korea is also investing in marketing and advertising campaigns in the U.S. and other foreign markets. It has been working with U.S. and other foreign cosmetics firms to increase its presence in these markets.
Kolmar Korea is a leader in the cosmetics original design manufacturing industry and is well-positioned to take advantage of the returning Chinese tour groups and its growing business partnerships with U.S. and other foreign cosmetics firms. With its innovative products, presence in the Chinese market, and investments in marketing and advertising, Kolmar Korea is set to continue to experience improved business outlook in the coming months.
