Japan’s Kosé Corporation and Indian pharmaceuticals manufacturer Elder Pharmaceuticals Limited have agreed to establish a joint venture company with the aim of manufacturing and selling cosmetics in India.
By establishing Kosé Elder (India) Private Limited, Kosé hopes to combine its technological strengths with Elder Pharmaceuticals’ knowledge of local markets and strong sales networks within India. The ultimate goal, according to the company, is to develop new products assimilating Japan’s refined, advanced technology with the universal aesthetic demanded by Indian women and to expand in the Indian market.
Once the joint venture is established, Kosé says it will consider the detail of how to share tasks between the two companies and specifics such as sales channels, products and brands.
The moves forms part of Kosé’s plan to aggressively enter markets with high growth rates.