Inglewood Lab Korea Awarded the '30 Million Dollar Export Tower'

Jae-Sung Ji, CEO of Englewood Lab Korea (second from left), and Heung-Soo Choi, Factory Manager of Englewood Lab Korea (third from left), are taking a commemorative photo at the 2021 Incheon Trade Day event.

[Asia Economy Reporter Seungjin Lee] On the 10th, Ingledwood Lab Korea, a subsidiary of Ingledwood Lab, a U.S.-based cosmetics research, development, and manufacturing company, announced that it received the '30 Million Dollar Export Tower' award at the '2021 Incheon Trade Day' event.

This achievement came two years after receiving the '5 Million Dollar Tower' award at the 56th Trade Day ceremony in 2019. The Trade Day ceremony is hosted by the Korea International Trade Association and sponsored by the Ministry of Trade, Industry and Energy, awarding the Export Tower to companies that have contributed to overseas market development and export growth each year.

Ingledwood Lab Korea's export amount for 2021 (from July 2020 to the end of June 2021) was recorded at a total of 30 million dollars. This represents a high growth rate of approximately 243.1% compared to the previous year's export amount of 8.5 million dollars for the same period.

In fact, Ingledwood Lab Korea's cumulative sales for the third quarter of 2021 reached 40.3 billion KRW, surpassing the full-year sales of 26 billion KRW in 2020, achieving high sales growth. This was the result of a systematic sales strategy and a focus on targeting indie brands through online marketing despite the global economic downturn caused by COVID-19.

Ingledwood Lab Korea, along with its parent company Ingledwood Lab, has participated in events such as '2019 Cosmoprof Las Vegas,' '2021 Cosmoprof Las Vegas,' and '2021 Makeup in New York.'

At this year's exhibitions, Ingledwood Lab Korea showcased skincare products reflecting the clean beauty trend and makeup products targeting the MZ generation to discover new customers alongside its parent company.

An official from Ingledwood Lab Korea stated, "The achievement of the 30 Million Dollar Export Tower is the result of continuous innovation and efforts to strengthen relationships with our clients," adding, "Over the past year, Ingledwood Lab Korea confirmed the growth potential of indie beauty brands in the U.S. cosmetics market, which is centered on global brands. We will continue to introduce products that meet the needs of local U.S. clients, such as differentiated formulations, and solidify our position in the U.S. cosmetics ODM market."

This content was produced with the assistance of AI translation services.