This partnership will encompass two distinct operating models: (1) HCP will represent made-in-Korea PTK product as a distribution agent to service beauty brands and OEMs worldwide (including Korea and Japan); and (2) HCP will source components (inner-packs, engines, etc.) for integration into finished goods packaging, focusing on airless and airtight compacts as well as skincare bottles and other items.
This partnership is described as only a first step and, based on its success, the companies are planning a deeper relationship (including a joint venture), to enable both to enjoy growth in China and major global markets via joint manufacture of products with increasingly localized/ made-in-China content.
Outside the Korea and Japan markets, HCP’s role will be global in scope and fully exclusive, with the exception of certain pre-existing distribution relationships that PTK will maintain.
HCP Group president and CEO Eddy Wu said, “We have come to admire PTK’s reputation for dispensing technology which is viewed by our largest brand customers as second-to-none. Bringing this technology into our offering will enable HCP to virtually complete our diverse range of packages for the color cosmetics, skincare, and fragrance sectors with a dispensing capability that we could not offer in the past. Together we can make this world-class dispensing capability unbeatable as product is sourced increasingly from China.”