Early January, INCO Cosmetic, a Korean company specializing in color cosmetics OEM/ODM, announced its plans to push forward with domestic demand and enter the overseas market.
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As the world learns how to live with COVID-19, the cosmetics industry has been realigning its production and supply in anticipation of ‘revenge spending’. The color cosmetics segment is expected to grow and brands resume product planning and development.
By diversifying its point makeup (eye makeup, lip and cheek products), introducing multi-balm and lip balm, the brand aims to produce better color cosmetics in Korea. The product export amount is estimated to exceed the 50 percent mark from US$ 800,000-1,000,000 starting from 2022. As for overseas exports, INCO is targeting Southeast Asia, Japan, and the United States.
“Starting in 2022, INCO Cosmetic plans to diversify its overseas export strategy. As the entire world goes into ‘With Corona’, some of the restrictions will ease, and this will be reflected in the consumption demand for cosmetics,” said a representative from INCO Cosmetic. The brand will conduct corporate development and operation according to the overall export trend.
Currently, among INCO Cosmetic’s major export products, ‘auto eyebrow’, ‘lip tint’, and ‘eye mascara’ are increasing in the following order. The brand plans to accelerate the production of face color cosmetics combined with basic cosmetics while securing exports of specialised lip products.
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Established in 1998, INCO Cosmetic has maintained a position in Korea’s cosmetic ‘pencil’ industry, striving not only for domestic but also for global exports, responding to domestic and foreign customer needs, developing new products, and improving production and quality control standards.