SEOUL, May 17 (UPI) -- Kolmar Korea, a cosmetics contract manufacturer based in Seoul, announced Tuesday it has acquired the global trademark rights to the Kolmar brand from the Kolmar headquarters office in the United States.
Kolmar USA launched in 1921 as the first official Kolmar firm.
After the acquisition of the trademark rights, Kolmar Korea said it planned to change its U.S affiliate from PTP to Kolmar USA, and Canadian unit CSR to Kolmar Canada.
To strengthen its footing in the North American market, Kolmar Korea is also scheduled to build a technology sales center in New Jersey and start its operation this year.
Since its establishment in 1990, Kolmar Korea has provided cosmetics products for hundreds of outfits ranging from Korean budget labels to overseas luxury brands.
The company also tapped into the healthcare business over the past years.
"The Kolmar brand came to existence some 100 years ago in the U.S., and now we own it," Kolmar Korea Vice Chairman Yoon Sang-hyun said in a statement.
"As Kolmar Korea is now in charge of the global Kolmar brand, we will expand our presence in the global market," he said.
Yoon is the son of Kolmar Korea founder Yoon Dong-han.
Observers compared Kolmar Korea to Fila Korea.
In 2007, Fila Korea, a South Korean sportswear producer, purchased the brand that was founded in 1911 in Italy. Four years later, Fila acquired global golf brand Titleist for $1.23 billion.
"What Kolmar Korea has acquired is the heritage and history of the Kolmar brand. Such a move would help the company tap into the global market in a more proactive way," Seo Yong-gu, a professor of business administration at Sookmyung Women's University, told UPI News Korea.