Hyundai Home Shopping and Cosmax Collaborate to Boost Exclusive Beauty Products

Hyundai Home Shopping is joining forces with global cosmetics original development manufacturer (ODM) Cosmax to enhance the product competitiveness of its offline beauty select shop, "Coasis." The strategy centers on establishing Coasis's unique identity through exclusive product offerings.

The partnership, formalized through a Memorandum of Understanding (MOU) signed on August 24, aims to combine Hyundai Home Shopping's product planning and distribution capabilities with Cosmax's expertise in cosmetic research and development (R&D) and manufacturing. This synergy will drive the creation and expansion of exclusive product lines.

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By moving beyond simply selling various brands together, we are securing differentiated products unique to Coasis to make the reason for customer visits and the store's differentiation clearer. We are collaborating with Cosmax for this purpose.

Under the agreement, Hyundai Home Shopping will manage new product planning, packaging design, distribution, and marketing. Cosmax will handle ingredient selection, formulation development, and overall product manufacturing. The initial phase involves launching two high-functionality basic skincare products tailored for concerns like wrinkles and dark spots, under Coasis's exclusive line, "Only Coasis."

These exclusive products will be available at Coasis's four physical stores and are slated for expansion to Hyundai Home Shopping's TV live commerce and mobile live commerce channels. Hyundai Home Shopping also intends to increase the "Only Coasis" product count from the current 40 to 60 by the end of the year, collaborating with various other partners. Han Kwang-young, CEO of Hyundai Home Shopping, stated the collaboration with Cosmax is crucial for securing differentiated products that give customers a reason to visit Coasis and highlight the store's uniqueness beyond simply offering a variety of brands.

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Going forward, through Coasis, we will discover promising beauty brands and directly plan and present exclusive products tailored to customer needs, providing a differentiated shopping experience.