COSMAX Acquires 51% Stake in Keminova, Establishes First European Production Base

South Korea–headquartered COSMAX has signed a share purchase agreement to acquire a 51% stake in Italian cosmetics ODM company Keminova, marking the establishment of its first manufacturing base in Europe. The transaction is expected to be finalized following approval from Italian regulatory authorities.

With this acquisition, COSMAX expands its production network — previously concentrated in Korea, China, and the United States — into Europe, strengthening its ability to serve growing global demand for K-beauty products. The move also reinforces the company’s position as a leading global cosmetics ODM player.

Founded in 1985, Keminova is based in Brescia, Italy, a key cosmetics hub near Milan often referred to as part of Italy’s “Beauty Valley.” The company reported sales of approximately €10.5 million last year and operates with an annual production capacity of around 20 million skincare units.

Keminova brings strong expertise in skincare, haircare, and medical devices, and holds internationally recognized certifications including ISO 9001, ISO 22716 (Cosmetics GMP), and COSMOS. By integrating Korean beauty innovation with Europe’s established clean and premium manufacturing standards, COSMAX aims to enhance its competitiveness in the European market.

Leveraging its global R&D network of approximately 1,100 researchers, COSMAX plans to accelerate the development of products tailored to European market trends while expanding its regional client base. Through this strategic partnership, the company seeks to combine advanced Korean cosmetic technology with Europe’s high manufacturing standards, further solidifying its global footprint.