Cosmax Posts Record Quarter as US Business Turns First Profit
Key Takeaways
- •Cosmax posted record Q2 consolidated revenue of 794.9 billion won ($560.8 million) and operating profit of 73.7 billion won, both all-time highs.
- •The US business achieved its first operating profit since being established in 2013, with revenue surging 79 percent year-on-year to 53.8 billion won.
- •Korean domestic revenue surpassed 500 billion won in a single quarter for the first time, with operating profit reaching 56.4 billion won.
- •China revenue advanced 33 percent to 197.4 billion won, while Cosmax's Indonesian subsidiary grew 38 percent to 28.9 billion won.
- •First-half combined revenue reached 1.48 trillion won with operating profit of 126.8 billion won, increases of 22 percent and 13 percent, respectively.

South Korean cosmetics manufacturer Cosmax, one of the world's largest cosmetics OEM and ODM suppliers, reported record-breaking revenue and operating profit for the second quarter, highlighted by its American operations turning their first-ever profit and posting the strongest growth of any regional unit.
According to the company's Tuesday disclosure, consolidated revenue for the April–June period climbed 27 percent year-on-year to 794.9 billion won ($560.8 million), while operating profit rose 21 percent to 73.7 billion won. Both figures represent all-time highs.
For the first half of the year, Cosmax posted combined revenue of 1.48 trillion won and operating profit of 126.8 billion won, increases of 22 percent and 13 percent, respectively.
All regional divisions delivered growth during the quarter. The standout performer was the United States, where revenue surged 79 percent on-year to 53.8 billion won. The US business, established in 2013, recorded its first operating profit since inception.
The turnaround followed an extended period of cost reduction and a targeted sales effort aimed at smaller beauty brands. Revenue generated primarily from west coast-based customers began materializing this year. During the second quarter, consistent reorders from major accounts reinforced those gains, the company noted.
Korea remained Cosmax's primary growth driver. Domestic revenue surpassed 500 billion won in a single quarter for the first time, while operating profit reached 56.4 billion won. Skincare categories underpinned the broad-based expansion, with suncare products and hydrogel masks delivering notable profitability improvements as Cosmax refined those product lines. Direct export revenue also increased as the company strengthened collaborations with global and European clients.
In China, revenue advanced 33 percent to 197.4 billion won, supported by robust demand from local color cosmetics customers alongside balanced expansion across both online and export channels.
Across Southeast Asia, Cosmax's Indonesian subsidiary achieved 38 percent revenue growth, reaching 28.9 billion won, aided by a wider distribution mix. Exports to Malaysia, Singapore, and India also gained traction. Thailand posted a more moderate 8 percent increase, driven by reorders of established products and new clients in the brand manufacturing segment.
"We were able to hit two milestones at once as every unit grew together, with Korea crossing 500 billion won and the US turning its first profit," a Cosmax official said. "We will carry that momentum into the second half, leaning on skincare strength, K-beauty demand and new customers."