Yonwoo invests $8m in facility to keep up with demand

By Michelle Yeomans

- Last updated on GMT

Related tags: Sales

Yonwoo invests $8m in facility to keep up with demand
Korean airless manufacturer Yonwoo has made an $8 million investment to expand its production capability of low-cost airless packaging in anticipation of increased demand.  

A company spokesperson told CosmeticsDesign.com USA that despite a recession, Yonwoo has a 28 percent average yearly growth rate over the past decade, and its R&D efforts has succeeded in bringing production costs down to a sufficient level to make airless technology accessible for the masstige market. 

Its current forecasts are what are said to have triggered the construction of two new buildings housing automated production lines with 18 high-speed injection moulding machines with a capacity to operate up to 30,000 pieces a day.

In recognition of the manufacturer’s international success, the Korean Knowledge Economy Ministry has given Yonwoo a World Class 300 status, an initiative that supports 300 companies considered number one in their industry to help them become worldwide leaders in their field.

In order to be eligible for the initiative, the company says it had to demonstrate its capabilities in various fields including R&D, technology, marketing and its international sales network.

According to the manufacturer, it is the Ministry’s sole choice in the packaging category and as a result of this is set to enjoy government support in terms of finance, human resources and publicity.

One of the competencies the government evaluated was sales and marketing power. They saw our international sales network – this is one of the great advantages we have – and this contributed greatly towards our selection​,” says export sales manager, Daniel Cha.

Airless packaging trend

Earlier in the year, Norwegian skin care brand Skin Science joined the trend for airless packaging by opting for Yonwoo’s airless designs, developed by Quadpack for its latest anti-aging formula.

Quadpack, the only distributor of Yonwoo in Europe and Australia developed the 30ml airless pack complete with metallized silver shoulder pump for the company's Bio Active Stimulating Serum.

Other products in the range include an eye cream and a renewal cream, housed in cylindrical tubes equipped with Yonwoo's airless technology.  

 

 

 

 

Related topics: Business & Financial

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