South Korean cosmetics maker TonyMoly announced on Oct. 17 that it will build a new manufacturing facility worth 23 billion won in Zhejiang Province, China, through its Chinese affiliate Megacos.
The manufacturing facility will be built on a 59,400 square-meter site and is expected to be completed in June 2017. TonyMoly aims to make the manufacturing facility capable of producing 8 million units of skincare and makeup products annually by the year 2018, and within three years, the factory will be expanded to have a production capacity of up to 25 million products.
Local companies are increasingly showing an interest in TonyMoly. The company’s Chinese affiliate has signed contracts with eight local businesses to supply 161 items.
A TonyMoly official said, “TonyMoly will show off Korea’s excellent production technology by carrying out OEM/ODM projects mainly for makeup products.”
