IBITA and Cosmetic Valley, Supporting the Growth of K-Global Beauty through an Agreement in France
- Korean Representative Partner Agreement Signed for the Expansion of Joint Ventures with Cosmetic Valley in France
- GCC Delegation Assembly of 19 Countries, Including France, the UK, Spain, Germany, Korea, and Japan, Concurrently Held with Cosmetic 360 at the Louvre Museum in Paris
On October 18, 2023, at 2:00 PM local time in Paris, France, at the event hall of the Louvre Museum, Mr. JT Yoon, Chairman of the International Beauty Industry Trade Association (IBITA), Mr. Marc-Antoine Jamet, President of Cosmetic Valley in France, Mr. Christophe Masson, President of Cosmetic Valley GCC, and Mr. Franckie, the representative of Cosmetic 360, participated in a business agreement ceremony focused on enhancing the cosmetics and beauty industry’s exports through the EU overseas network and driving international collaborative projects.
“Cosmetic Valley,” established in 1994, is a global pioneer in building a network for the cosmetics and beauty industry and is a cluster of industry, academia, and research in France. It boasts over 100 French cosmetic companies such as Guerlain and Yves Saint Laurent, as well as members from Japan’s Shiseido and South Korea’s Pacific (Pacific Europe). Cosmetic Valley supports research, long-term international projects, and business competitiveness in the perfume and cosmetic industry.
IBITA has expanded its support for export-related initiatives for Korean cosmetics and beauty industry startups and innovative technology startups looking to enter Europe with the signing of this agreement. This agreement was made possible due to IBITA’s increased efforts in the field of overseas expansion.
The agreement aims to ▲build a partnership between IBITA and Cosmetic Valley as Korean representatives for supporting promising cosmetics and beauty industry companies and innovative startups ▲promote the products of participating companies through Cosmetic 360 and the European export network ▲offer ongoing programs and exchange collaborations to support Korean companies (such as cosmetics and beauty industry workforce development and joint projects between the French beauty network and the two organizations).
The French market is increasingly focused on K-Beauty, thanks to the popularity of K-Pop, K-Dramas, and the attractiveness of K-Beauty elements like beauty tech, natural ingredients, and cost-effectiveness. France is emerging as a significant market, accounting for 35% of K-Beauty sales in Europe.
Mr. Marc-Antoine Jamet, President of Cosmetic Valley, has expressed a strong interest in the Korean cosmetics and beauty industry, recognizing its strong potential in the global cosmetics and beauty market. He has pledged active cooperation in joint projects with IBITA and Cosmetic Valley to strengthen business support.
Chairman JT Yoon of IBITA stated, “We plan to focus on supporting Korean cosmetics and beauty companies to establish themselves successfully in the European market, particularly in France and Europe, through excellent Korean cosmetics and beauty companies, innovative companies, and startups.”
IBITA is actively supporting the expansion of Korean beauty companies into Europe by collaborating with prominent distribution companies such as LBW, a large-scale distributor of well-known brands like Dir and Sébastien in the United Kingdom.
(Editor : Miso & Hyemin)
