Foreign visitors check cosmetic products at Olive Young Hongdae Town in Seoul in this April photo. Olive Young curates and sells indie cosmetic brands by Korean small and medium-size enterprises. Courtesy of Olive Young Production runs hot ahead of Black Friday, Singles' Day By Ko Dong-hwan Cosmetic firms in Korea have begun running their manufacturing plants at full capacity as they expect global demand for their beauty products to skyrocket with Black Friday and Singles’ Day in the next month, according to industry officials, Tuesday.
The consumption trend, fueled by special shopping days on Nov. 29 in the United States and Nov. 11 in China, coincides with the growing global popularity of Korean beauty products this year.
Industry players, ranging from large corporations to small and medium-sized enterprises (SMEs), are anticipating a surge in sales during these key dates, which historically generate significant collective sales. They hope to leverage this momentum to expand their presence in global markets. Original design manufacturer (ODM) Cosmax is currently running its factories in Korea at maximum capacity due to a surge in orders from its client firms for cushion-cosmetic products starting September.
Since September, Cosmax has received nearly 500 new products through ODM orders. With November featuring two major shopping events for international consumers, this month is particularly strategic for cosmetic developers to launch their new products, according to indus.
