Pharmaresearch, a company specializing in regenerative medicine, announced on the 21st that it has signed a memorandum of understanding (MOU) with Chicmax, a Chinese cosmetics firm, to strategically cooperate for the expansion of Rejuran Cosmetic in the Chinese market.
Founded in 2002, Chicmax is a leading brand management enterprise in China focusing on investment-driven cosmetics. It has established a comprehensive portfolio across six key segments: mass skincare, maternal and infant care, youth care, personal care, color cosmetics, dermacosmetics, and premium skincare. Chicmax has numerous brands, including Kans, newpage, and ARMIYO, that have achieved high recognition both domestically and internationally. The company anticipates total sales of approximately 1.9 trillion KRW (9.178 billion RMB) by 2025, positioning itself as the second-largest cosmetics group in China.
This collaboration aims to ensure the successful market penetration and localization of Rejuran Cosmetic, with plans to establish a joint venture (JV) to maximize operational synergy. Pharmaresearch intends to extend its cooperation beyond the supply of finished Rejuran Cosmetic products to include local product development and branding initiatives. The specific business structure and collaboration scope are expected to be finalized within the year.
A representative from Pharmaresearch stated, “In order to achieve global expansion for Rejuran Cosmetic, we have identified rapid market response and rigorous quality management as core tasks, and we are building a manufacturing and supply chain capable of implementing our technology in major hub countries. In the U.S., we are expanding our local production base through the acquisition of cosmetic CDMO company CG USA, while in China, we plan to accelerate commercialization in cooperation with Chicmax, which possesses expertise in product R&D, brand building, and operational fields.”
CCM Chairman and CEO Lyu Yixiong emphasized, “CCM and Pharmaresearch share a mutual philosophy that values long-term growth and research and development. We highly appreciate Pharmaresearch's extensive investment in R&D and product innovation over the years, particularly its in-depth research achievements and expertise in the fields of PDRN and regenerative medicine.” Lyu further added, “Building on this foundation, I hope both companies will share strengths and enhance capabilities to grow together. I foresee this partnership as a pivotal moment for the cooperation between the beauty industries of Korea and China.”
