CSAP's Subsidiary Collaboration With COSMAX Indonesia In The Skin Care Market

JAKARTA - PT Catur Sentosa Adiprana Tbk (CSAP), through its subsidiary PT Catur Sentosa Anugerah (CSAN) signed a Cooperation agreement with PT COSMAX Indonesia (COSMAX) for exclusive distribution rights and rights holders for the iLikeMyself brand, one of COSMAX Indonesia's products.

With the signing of the cooperation, CSAN will distribute 1 brand with 5 variants (Stock Keeping Unit / SKU) for skin care products. These South Korean-style care products have been formulated with climate conditions and skin types in Indonesia. These superior products have been clinically tested and can improve skin structure when used regularly.

The entry of CSAN in collaboration with COSMAX Indonesia in the skin care market cannot be separated from the large potential of the beauty and personal care product market in Indonesia.

Based on data from the Ministry of Industry in 2020 and 2021, the beauty and personal care market in Indonesia is estimated to reach 6.03 billion US dollars in 2019 and is predicted to grow to 8.46 billion US dollars in 2022. Indonesia is estimated to be the 5th largest cosmetic market in the world. world in the next 10-15 years.

Oey Tanto Sugiarto, Chief Operating Officer (COO) of PT Catur Sentosa Anugerah said, armed with CSA Group's experience in the distribution sector for more than 30 years and consumer goods distribution for more than 10 years. CSAN will strengthen the product portfolio of consumer goods distribution in Indonesia.

"CSAN has 38 distribution areas that are able to reach all of Indonesia, the company will develop skincare products in the Convenience Store / minimarket (CVS) channel. Where the channel is growing rapidly in line with the rise of the national economy after the improvement in handling the pandemic," said Oey Tanto.

Cheong Min-Kyoung, President Director of PT COSMAX Indonesia in his speech said, this collaboration is a strategic step for COSMAX to be one step closer to Indonesian consumers.

COSMAX Inc, Korea has been participating in this global beauty & personal care industry for 30 years and serving hundreds of beauty brands. Through collaboration with CSAN, COSMAX Indonesia, believes in its R&D expertise and capabilities as well as trend insight in successfully meeting Indonesian consumer preferences.

Cheong Min-Kyoung explained, until now a quarter of the world's 7 billion people use COSMAX beauty and care products. Globally, 600 beauty companies, including 15 of the world's top 20 beauty companies, partner with COSMAX.

He added, by partnering with CSAN as an experienced consumer goods distributor company. We believe this joint product development collaboration will have a significant impact on the personal care market in the years to come.

"Catur Sentosa initially targeted to distribute skincare product brands to 19,000 Indomaret and Alfamart mini markets throughout Indonesia. This distribution target will increase from time to time in line with the double digit growth target each year," said Oey Tanto. Sugiarto.

The subsidiary, which CSAP owns 99 percent of its shares, was established in 2012 and has 38 distribution areas with 10 regional distribution hubs that are able to reach all corners of Indonesia. CSAN currently has a warehousing area of 40,000 m2, 300 distribution fleets capable of serving 100,000 retail customers throughout Indonesia.