Kolmar Korea has acquired the global trademark of “Kolmar,” the company said Tuesday. It is the first time that a Korean firm has acquired the original company’s brand trademark in the cosmetics industry.

The company’s original headquarters was based in the United States, where it was first established in 1921.

Through this acquisition, Kolmar Korea gained exclusive rights to the Kolmar brand in major global markets. This move will help the Korean branch to expedite business in new markets around the world by reducing the time needed to apply for trademark rights.

Kolmar Korea plans to change the name of its U.S. and Canada branches to Kolmar USA and Kolmar Canada, respectively.

It is also preparing to set up another overseas branch in Singapore, which the headquarters in Seoul will utilize as a hub to enter the Southeast Asia and the Middle East markets. Kolmar Korea will start by introducing its cosmetics business there and gradually expand to other sectors such as pharmaceuticals and functional foods for health.

In February, Kolmar Korea signed a business agreement with the International Beauty Industry Trade Association to develop and produce cosmetics exclusively for exporters to the Middle East and North Africa in order to be in the Middle East market.

“It is a symbolic case that has once again confirmed that K-beauty is the mainstay that leads the global cosmetics market. We have been setting the standards for the Korean cosmetics industry for the past 32 years and we will continue to develop our presence in the global scene based on them,” Kolmar Korea Vice Chairman Yoon Sang-hyun said.

 

Source: https://www.koreatimes.co.kr/www/tech/2022/05/419_329286.html?gonw