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Behind the Beauty: Unveiling COSMAX's Game-Changing ODM Strategy

In: Cosmetics Marketing Strategy in the Era of the Digital Ecosystem

Author

Listed:
  • Young Won Park

    (Saitama University)

  • Paul Hong

    (The University of Toledo)

Abstract

This chapter examines COSMAX's transformative strategy as an Original Design Manufacturer (ODM) in the cosmetic industry, highlighting its success amidst the post-pandemic shifts in consumer behavior and technological advancements. As the middle class in East Asia expands, there is an increased demand for personalized self-care and beauty products, coupled with a reliance on digital solutions and sustainable practices. COSMAX has harnessed these trends, leveraging big data, IoT, and AI to enhance its value chain and meet the sophisticated demands of its global customer base. The analysis underscores the agility and innovative spirit of COSMAX, which, despite the challenges posed by the pandemic, has continued to thrive by adapting to the evolving digital landscape and consumer priorities in the cosmetic sector. COSMAX's journey from a modest start-up to a global ODM leader is a testament to its strategic emphasis on research, innovation, and customer-centric approaches. It has effectively merged skincare and makeup, pushing the boundaries of product development through its R&D efforts. By embracing the Fourth Industrial Revolution, COSMAX has optimized its operations for speed and flexibility, significantly reducing product development time and enhancing manufacturing processes. This case study exemplifies how a forward-thinking business model, grounded in technological innovation and global market awareness, can drive a company to industry leadership and offer valuable lessons for businesses navigating the complexities of the post-pandemic market.

Suggested Citation

  • Young Won Park & Paul Hong, 2024. "Behind the Beauty: Unveiling COSMAX's Game-Changing ODM Strategy," Springer Books, in: Cosmetics Marketing Strategy in the Era of the Digital Ecosystem, chapter 0, pages 129-144, Springer.
    • Handle: RePEc:spr:sprchp:978-981-97-3674-4_7
    DOI: 10.1007/978-981-97-3674-4_7
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