Press releases

Hong Kong, 30 March 2015 – LF Beauty (a Li & Fung company) and Cosmecca Korea Co,. Limited (“Cosmecca”) have signed a memorandum of understanding (MoU) to collaborate on the research and development and manufacturing of beauty and skincare products for brands and retailers worldwide.

As part of the agreement, LF Beauty and Cosmecca will leverage the strength of their combined R&D and manufacturing capabilities in South Korea, China, Thailand and Indonesia. They will also align cross-selling efforts of existing and new products to maximize sales opportunities within Li & Fung’s customer network in Europe and the US.

“South Korean companies have set the standard for innovative skincare products in Asia,” said Gerard Raymond, president of LF Beauty. “We want to give our international customers access to world-class South Korean formulations and manufacturing. Cosmecca is one of the top beauty producers in South Korea so it is only natural for us to partner with them.”

“Our vision is to be a global market leader in the development and manufacturing of innovative cosmetic products that get consumers excited,” said Im-Rae Cho, president of Cosmecca. “Together with LF Beauty, we have a tremendous opportunity to bring K-Beauty innovation to brands and retailers around the world.”

The MoU was effective as of 18 March 2015.