President Yang Chang-soo of COSMOCOS and Claudia Murillo, director of Farmacia de Ahorror, pose after they participated in a ceremony to open its first outlet at the drugstore Farmacia de Ahorror in Monterrey, Mexico, on May 6. (Photo: COSMOCOS)

COSMOCOS, a cosmetics company affiliated with KT&G, has opened its first outlet in Mexico as part of a strategy to explore the K-beauty market in Central and South America.

COSMOCOS opened its first outlet at the drugstore Farmacia de Ahorror in Monterrey, Mexico, on May 6. Farmacia de Ahorror is Mexico’s No. 1 drugstore with about 1,300 outlets. It is well known among Mexican people since it offers proximity and reasonable prices.

The size of the Mexican cosmetics market is estimated at $8.4 billion, accounting for roughly 14 percent of the whole of Central and South America. Mexico is the second-largest market in the region with an annual average growth rate of 5.7 percent, following only Brazil. Global companies are scrambling to enter the Mexican market.

COSMOCOS plans to launch about 14 mainstay products, including “Vprove Micro Clay Pack & Form Cleanser” “Any Beauty Line” and “Mask Master Oil Line” at the drugstore Farmacia de Ahorror to attract the hearts and wallets of Mexicans.

COSMOCOS will spread K-beauty’s skin care routines to Mexico, a COSMOCOS official said. Demand for sheet-type facial mast packs is rising, but consumers are reluctant to buy them do to expensive prices. COSMOCOS plans to make a pitch for the strong points of Vprove Mask Master Line – excellent functions and reasonable prices.

COSMOCOS has strengthened its global presence of late, including the opening of a first “Beauty Credit” outlet in New York. COSMOCOS plans to make a pitch for K-beauty in the Mexican market by making the most of the experiences and knowhow the company has accumulated.

Starting with the latest launching, COSMOCOS said the company plans to conduct diverse publicity activities to gain the hearts of Mexican consumers.

About COSMOCOS

COSMOCOS has been committed to becoming a global beauty company that creates new beauty since it was founded in 1992 based on a shared management philosophy of being an upright corporate citizen.

Starting from its first release of “Flor de Man” which opened the market for men’s makeup products and multifunctional premium cleansers, COSMOCOS has launched hit cosmetic brands including “Danahan” the natural herbal brand, and “RG II” the professional anti-aging brand. COSMOCOS has strengthened its brand positioning and its reputation for quality and value, winning prizes at the Korea Best Brand Awards for seven years running, as well as the grand prize at the Premium Brand Index.

The company entered into a partnership with KT&G in June 2011. Changing the corporate name from Somang Cosmetics to COSMOCOS in September 2016 marks the second leap towards becoming “the world’s leading beauty company that creates new beauty.” COSMOCOS identifies customers’ beauty needs and innovates to add value.