South Korea Yanyu has achieved great success in the cosmetics packaging market in Asia - innovation is still the key
South Korea Yanyu Co., Ltd. is a cosmetics packaging manufacturer headquartered in Incheon, South Korea. Its sales have increased from US $20million in 2002 to US $150million last year. The company owes it to an important strategy, that is, to financially guarantee the expenditure on product innovation in the rapidly changing cosmetics packaging industry
it is understood that Yanyu now has 30 industrial designers and mold and packaging engineers. The company said that this is not very common for enterprises of their size. Moreover, the company spends at least 8% of its revenue on research and development every yearDaniel Cha, its export sales manager, said, "this is a large amount for us. This is one of the important factors that help us succeed. We are not afraid to spend money on this. We are a technology and innovation oriented company. "
the company said that it would become the first company in South Korea to develop cosmetic lotion pumps and airtight cosmetic containers. Its design team was responsible for proposing 30 new product ideas every month, and then selecting the best ideas to add to the product catalog
in addition to focusing on research and development, Yanyu has expanded its global business in an all-round way since 2008. Now the company has begun to seriously consider building its first overseas production plant outside South Korea
the company cooperates closely with partners in the United States and Europe in product development and marketing, including PKG group headquartered in Beverly Hills, California, USA, whose managers are from the former Seda specialty packaging Corp. headquartered in Los Angeles; And the Quadpack group, headquartered in Barcelona, Spain
it is reported that in the past five years, the company has changed from focusing on Korean customers and multinational special cosmetics manufacturers to becoming more global. It can cast shafts with complex shapes (such as camshaft and crankshaft) and expand its contacts with the world's leading cosmetics giants
at present, exports account for% of its total sales, higher than 40% in 2007. At that time, the size of the company was less than half of its current size. Yan Yu said that their packaging is directly supplied to the world's 12 largest cosmetics manufacturers
the company widely uses plastics as raw materials. The production department has a total of 3500 injection molds in use, with 65 injection molding machines inside, and about 240 molding machines at subcontractors in South Korea. These subcontractors supply 100% of Yanyu, including some sub factories located in Yanyu's Incheon plant
the company has about 1100 employees and is also expanding the capacity of Incheon's factory. But the production in South Korea has been unable to meet the needs of the company
cha said, "our global customers put pressure on us to build a second factory near them."
the establishment of factories in China and Brazil is still under discussion, although it seems more likely to establish factories in Brazil. Curt Altmann, vice president of global development of Yanyu international and PKG group, said that he has 30 years of packaging design experience in the cosmetics industry and has worked for world-renowned brands
he said, "this involves sales, assembly, molding and decoration. Everything needs to be discussed in detail. "
the company has set a goal of achieving $800million in annual sales by 2021, Altmann said
Yan Yu believes that its geographical location helps the company to occupy a competitive advantage in the cosmetics industryCha and Altmann believe that South Korea has become one of the global cosmetics development centers. Korean fashion is very popular in Asia, and increasingly began to spread to other places. This phenomenon is known as "Korean wave", which is conducive to the global promotion of Korean cosmetics
altmann said: now Korea is undoubtedly at the forefront of global skin care product development. From the perspective of products, this is a high-end market, which is usually developed locally and then launched globally. The classic example is BB cream. The global trend of BB Cream began in South Korea. I can't think of any other single culture that attracts as much attention as Korean skin care products
improve the applicability and progressiveness of the company's lithium carbonate products. Cha said: James Joong hyunki, founder and CEO of Yanyu, has always regarded packaging innovation as an important link since the company was founded in 1983. We hope to become a multinational packaging enterprise, and we hope to be recognized as a solution provider and innovation oriented company. "
for example, Yanyu's design team commercialized a series of cosmetic containers made entirely of polyolefins in March to meet customers' needs for more renewable packaging, Altmann said
this product has not been used by any cosmetics manufacturer at present. Modulus of elasticity e is an important mechanical property index that is often used, but Yanyu has developed a four cavity mold for use
an innovation team of Haizheng group
we hope to develop a package that can be used by consumers and discarded completely. Altmann said that the challenge is to produce a sufficiently strong pump system made only of polyolefin materials without adding other resins that may pollute the regeneration flow. Our finalized system has inspection valve and housing, and all components are made of polypropylene or polyethylene. Many customers are interested in this