Apoena Biotech teams up with Greenact on regional beauty ingredient distribution, and Amorepacific acquires majority interest in COSRX
🇧🇷Local Sourcing🧪
Apoena Biotech—a research company and ingredient maker, specializing in technologies for microbiology, bioprocesses, agro-industry, and personal care—announced last month a cosmetic ingredient distribution partnership with Greenact.
The partnership between these two Brazil-based companies is, however, about more than regional relationships and beauty inputs. It’s about how our industry can move forward in partnership with the planet: “We strongly believe that the future of the personal care and cosmetics industry is intricately connected to our capacity to innovate sustainably,” says Patricia Mendes, Head of Marketing at Apoena Biotech.
Apoena is known for its work in not only biotech but bioprospecting; that is, the search for species that can add practical and commercial value. For instance, the company has government authorization and unique access to the Blue Amazon (a national marine park 300+ kilometers off Brazil’s northeast coast, also known as the archipelago of Fernando de Noronha, which is quite rich in biodiversity). With samples that Apoena respectfully gathers from this distinctive ecosystem, the company leverages bioprocesses to develop valuable actives that can then be sustainably produced at scale.
Explaining the company’s choice of a distributor further, Mendes emphasizes that “In our pursuit of business partnerships, we seek more than mere contractual agreements; we seek those who share our deep passion for advancing a sustainable and healthier world. Greenact wholeheartedly embraces this commitment, making it an ideal partner.”
Greenact prides itself on national market knowledge and an adept technical service team. And with a focus on sustainability, the company is keen to work with a biotech beauty ingredient innovators like Apoena.
“By combining Greenact’s specialized commercial experience with Apoena Biotech’s scientific expertise, we position ourselves at the forefront of the cosmetics industry’s transition towards more sustainable practices and more effective products,” says Karla Araujo Macian, Marketing and Innovation Manager at Greenact, in a recent press release.
“This partnership,” she notes, “enables us to offer genuinely innovative cosmetic ingredients that cater to a range of customers seeking high-performance solutions. These solutions align with sustainability values, meeting the expectations and demands of an increasingly conscious consumer base.”
🐌Skincare Subsidiary💰
On Monday, Amorepacific announced that the company is buying additional shares of the popular K Beauty skincare brand COSRX, giving the corporation controlling stake in the brand—owning over 93% of COSRX shares.
“We are thrilled that COSRX, which has shown rapid growth through differentiated products and marketing based on an exceptional understanding of digital channels, has become a part of our group,” says Seunghwan Kim, CEO of Amorepacific Corporation, in his remarks to the press this week.
From here out, COSRX will be a subsidiary of Amorepacific. “Moving forward,” explains Kim, the company’s aim is “to amplify COSRX's unique strengths while also integrating Amorepacific's vision and business management expertise to develop it into a captivating brand that global customers will love.”
COSRX was launched in 2013 as a brand for sensitive skin and has two well-known product lines: the Advanced Snail line, featuring some 7 skincare products formulates with snail mucin (or snail secretion filtrate), and The RX line, which includes sought-after products like The Vitamin C 23 Serum, The Niacinamide 15 Serum, and The Hyaluronic Acid 3 Serum.
Amorepacific first invested in the brand in 2021, picking up 38.4% of COSRX shares. Today, the brand is sold in about 140 countries and does more than 90% of its business outside of Korea.
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