Top cosmetics R&D firm to break even in China this yearKorea Kolmar, a Korean cosmetics research and development firm, has seen robust sales growth in China as it has steadily increased its number of Chinese clients, company officials said yesterday.
The company, which is known for being an original design manufacturer of cosmetics products, will likely break even in its China operations this year, largely thanks to a growing Chinese mass cosmetics market, said the officials at Korea Kolmar.
Korea Kolmar’s brand awareness has been rising among China’s local companies, adding 80 Chinese firms as clients last year.
The company officials expected that China sales growth will accelerate in 2012.
According to an estimate by Korea Investment & Securities, the Korean cosmetics firm would likely have posted $1.29 million sales in China during the January-March period, up 75.8 percent on-year.
Korea Kolmar was also expected to have posted total sales of $4.29 million sales during one year from April in 2011 through March 2012.