Cosmax, South Korea’s leading cosmetics manufacturer, reported a surge in third-quarter profits as domestic sales and Southeast Asian operations offset weakness in China and the United States.
Operating profit jumped 30.4% to 43.4 billion won ($33.2 million) from a year earlier, while revenue climbed 15.6% to 529.8 billion won. Net income nearly doubled to 20.6 billion won, driven by strong domestic performance and expansion in emerging markets.
The company’s home market led growth with sales rising 20.8% to 347.8 billion won, boosted by new partnerships with independent beauty brands and increased exports to Japan and the U.S. However, Chinese operations saw a 7.5% decline in sales to 114.4 billion won amid broader weakness in the country’s cosmetics retail sector.
Southeast Asian units showed remarkable strength, with Indonesia posting a 37.9% sales increase and Thailand operations surging 69.8%. The growth came as Cosmax expanded distribution networks across Vietnam and Cambodia.
The manufacturer’s U.S. business remained challenging, with sales dropping 11.8% despite opening a new California office. The company cited ongoing efforts to build relationships with American indie brands through its localization strategy.
Cosmax maintained an even split between skincare and color cosmetics sales, with sun protection products accounting for 20% of total revenue. The company expects continued momentum from rising global demand for Korean beauty products.
