Key Takeaways:Cosmax acquired a controlling stake in Italy’s Keminova, gaining a foothold in Europe.The transaction puts pressure on European competitors as Cosmax brings K-beauty scale and innovation into the market.The timing links strong financial momentum with geographic expansion.South Korean cosmetics manufacturer Cosmax establishes its first European production base with the strategic acquisition of Italy’s Keminova, adding to its existing manufacturing footprint in the US, South Korea, China, and other Asian markets.WHO: Established in 1985, Keminova is located in Brescia, about 100 kilometers from Milan. It sits within "Beauty Valley," the heart of the European cosmetics industry, where many global cosmetics companies are concentrated, enabling easy access to the cosmetics value chain and the hiring of skilled personnel. Keminova has specialized in derma cosmetics, haircare, and the medical device sectors, strengthening its research and innovation capacity since 2023, including the establishment of a microbiology laboratory.Cosmax is a leading South Korean Original Design Manufacturer (ODM) and Original Equipment Manufacturer (OEM) specializing in the research, development, and manufacturing of cosmetics and health-functional food products. Established in 1992, the company is a major force behind the K-beauty industry, supplying over 600 global beauty brands. Often cited as the world's number-one cosmetics ODM/OEM company, with a global team of researchers, designers, and 1,100 scientists, the company develops 8,000 new products every year and produces 2.7 billion units annually across its global network. Cosmax reported 2.3988 trillion won ($1.