Hyungji Elite Partners With Cosmax to Enter Beauty Market Targeting Gen Z

Hyungji Elite (093240.KQ), a Korean school uniform maker, announced Wednesday that it has signed a strategic memorandum of understanding with Cosmax (192820.KS), a cosmetics research, development and manufacturing (ODM) company, to enter the beauty market.

Hyungji Elite pursued this partnership to target the Gen Z beauty market by leveraging its school uniform infrastructure and to secure new growth drivers. The company plans to launch a new beauty brand by combining its data on teenage students and parent customers with Cosmax's research and innovation (R&I) and manufacturing capabilities. Through this agreement, the two companies have established a business structure spanning brand planning, global R&I-based product development, stable production infrastructure, and distribution network expansion.

Hyungji Elite's strategy is to precisely analyze teenagers' skin concerns and product preferences based on data accumulated through its flagship brand "Elite School Uniform." The company plans to focus on enhancing product safety by minimizing harmful ingredients and applying eco-friendly packaging, with teenagers as the primary target demographic. The company also aims to expand into overseas beauty markets including China, Japan and the United States.

"This partnership will be a turning point that goes beyond simply entering a new business, creating new value by extending Hyungji Elite's insights on teenage consumers into the beauty sector," a Hyungji Elite official said. "Through close cooperation with Cosmax, we will introduce an eco-friendly beauty brand that authentically connects with Gen Z."