The biotechnology firm has signed a distribution agreement with South Korea-based East Hill to develop and distribute its products in the country after recently signing similar agreements to enter the US and French markets.
Rich beauty market in South Korea
According to East Hill President IK Joe, per capita consumption of beauty products in South Korea ranks in the top five in the world making it an attractive destination for manufacturers and suppliers.
The South Korean deal encompasses Ceapro's current range of seven certified organic active ingredients and will give the company the opportunity to market its products through a supplier that counts Amore Pacific, LG (H&H) and the Face Shop among its customers.
Ceapro describes these beauty players as the top three Korean cosmetic companies.
"Working with East Hill continues our strategy of partnering with notable regional and market sector specialists," said Ceapro CEO Mark Redmond.
By partnering with leading distributors in international markets Ceapro plans to achieve rapid growth.
Certified organic actives
In South Korea the company will be targeting the beauty consumer with its certified organic range of active ingredients which includes extracts of oat and lupine proteins.
Ceapro specializes in the development of organic products for cosmetics, medical and animal health industries offering a range of botanical ingredients for use in hair and skin care formulations.
The company has identified the personal care and pharmaceutical markets as sectors through which it is focusing its expansion efforts.