Han Gwang-young (left), chief executive of Hyundai Home Shopping, and Lee Byung-joo, chief executive of Cosmax BTI, pose for a photo at an MOU signing ceremony held at Hyundai Home Shopping's headquarters in Gangdong-gu, Seoul, on Thursday. [Hyundai Home Shopping]
Han Gwang-young (left), chief executive of Hyundai Home Shopping, and Lee Byung-joo, chief executive of Cosmax BTI, pose for a photo at an MOU signing ceremony held at Hyundai Home Shopping's headquarters in Gangdong-gu, Seoul, on Thursday. [Hyundai Home Shopping]

Hyundai Home Shopping announced Monday that it has signed an MOU with Cosmax to jointly develop exclusive products.

Under the agreement, Hyundai Home Shopping will handle new product planning, packaging design, retail and marketing, drawing on customer data accumulated through its operation of Coasis stores. Cosmax will be responsible for ingredient selection, formulation development and production.

The two companies plan to launch two high-performance skincare products targeting common skin concerns such as wrinkles and dark spots under the Coasis-exclusive lineup "Only Coasis," with plans to expand the product range. The products will be sold exclusively at four Coasis locations — Hyundai Premium Outlets Space One, Hyundai Department Store Cheonho, and Hyundai Outlets Garden Five and Dongdaemun. The companies also plan to extend sales to Hyundai Home Shopping's TV live broadcasts and mobile live commerce platforms.

In addition, Hyundai Home Shopping plans to expand collaborations with various partners beyond its work with Cosmax, aiming to grow the Only Coasis lineup from roughly 40 products to 60 by the end of the year.

"Going forward, we will continue to discover promising beauty brands through Coasis and develop exclusive products tailored to customer needs, providing a differentiated shopping experience," said Han Gwang-young, chief executive of Hyundai Home Shopping.


andy@heraldcorp.com