K-beauty and fashion are causing a stir worldwide. Korean cosmetics have secured the top position in exports, surpassing traditional powerhouses like French cosmetics in the United States and Japan, establishing themselves at the center of the global market. The fashion sector is also experiencing continuous growth. ChosunBiz has conducted relay interviews with beauty and fashion brands recognized overseas, sharing their success stories and differentiated product philosophies. [Editor's note]
How did a small cosmetics manufacturer that only competed with stick-type pencil products like eyeliners grow into a global original design manufacturer (ODM) powerhouse with an annual revenue of 290 billion won in just 15 years?
On the 22nd of last month, Baek Su-a, CEO of C&C International, noted, “The urgency to present something different is the driving force behind our growth.” His “shift in thinking” has been recognized for outlining the direction of the Korean color cosmetics ODM industry.
C&C International is a cosmetics ODM specialist founded by Chairman Bae Eun-cheol in 1997. It began with the development of pencil-type products (eyeliners, eyebrow products, etc.). Since its listing on the KOSDAQ in 2021, it has expanded production facilities and recorded revenue of 282.9 billion won last year, making it the fourth-largest cosmetics ODM company in Korea by revenue.
After joining his father's company following his university graduation in 2009, CEO Bae went directly into sales to save the company, which was in crisis at the time. He recalled, “I spent the whole day meeting people, thinking about which products could differentiate us from competitors, and even jumped into development myself. Back then, I hardly went home.”
His first hit product was the 'gel liner' launched in 2013. At a time when most products were pencil types, he successfully differentiated with a gel formula, which was quickly adopted by major brands such as Aritaum and Espoir. He also gained attention with the 'glow-in-the-dark lip crayon,' rising to prominence in the lip product ODM market.
Domestic success has led to global expansion. They have collaborated with large brands such as L'Oréal, Estée Lauder, and LVMH. Recently, they have also partnered with U.S. celebrity beauty brands including Rare Beauty and Huda Beauty. Annual revenue, which was in the tens of millions of won at the founding, is expected to reach 300 billion won this year.
With over 1,000 employees, CEO Bae still handles client presentations himself. He also fulfills the role of Chief Development Officer (CDO), overseeing everything from development to planning and packaging design. He said, “I think more than the clients and propose ideas earlier. That’s the strength of ODM and the reason C&C is trusted like a brand even without one.”
C&C International is currently expanding its focus from color cosmetics to skincare. Although the revenue share is still just over 10%, they aim for skincare growth worth 10 billion won this year through internal partitioning of research labs and organizational enhancement. In the medium to long term, they set a goal to achieve annual revenue of 1 trillion won through product portfolio expansion and global collaborations and production facility expansion.
CEO Bae said, “Our competitiveness lies in quick planning, quick proposals, and quick feedback. We’ve created a structure where quality claims and customer feedback are immediately reflected into new products,” adding, “Although our employee count has grown to over 1,300, that system still works well. I’m confident we will conquer skincare soon.”
As a working mother raising two children, CEO Bae added, “I want to design the company so that working women can work effectively. I understand that struggle better than anyone.” He said, “In an era where having children is difficult, I believe companies must be more sensitive. Creating an organization where employees don’t have to worry about others is one of the reasons for growing the company.”