IMINE Partners with VIVE Company to Enhance Global Beauty Market Strategy

IMINE, a cosmetic ODM specialist, has joined forces with VIVE Company, an artificial intelligence (AI) firm, to significantly enhance its capabilities in analyzing global beauty trends and planning new products.

On [1st], key representatives from both companies, including CEO Park Jeong-wan of IMINE and CEO Kim Kyung-seo of VIVE Company, attended a signing ceremony for a memorandum of understanding (MOU) at VIVE Company's headquarters in Yongsan, Seoul.

The core element of this partnership revolves around IMINE's utilization of VIVE Company's beauty intelligence service, 'Glowcast,' for analyzing global beauty trends, constructing inventory, and developing new products. This initiative aims to rapidly assess consumer interests and the evolving trends in beauty product ingredients and formulations, effectively shaping product concepts and developments to lead global beauty trends.

This partnership is notable as it significantly expands IMINE's AX strategy—an extensive application of AI across product development, global market analysis, and product planning. Currently, IMINE is implementing its 'AX Four Strategies' across management planning, production, development, and sales, including a pilot project of 'fabric recommendation AI' that started in June.

Through this collaboration, IMINE intends to accelerate its transformation driven by AX-based management innovation to penetrate the global beauty market. By actively employing AI, the company aims to discover promising global product concepts while enhancing its material and formulation technologies and development expertise, creating new growth drivers for K-beauty.

Additionally, IMINE and VIVE Company will jointly market through collaborative presentations and promotional content creation targeted at clients and global buyers, participation in domestic and international exhibitions, and the publication of market reports. VIVE Company will focus on the development and enhancement of AI and data analysis models, while IMINE will manage product planning and development, production, and client proposals, with plans for further collaborative service development for beauty brands and market entry into overseas territories also under consideration.

CEO Park Jeong-wan of IMINE stated, "AI will be a crucial driving force that changes the way we work and our business competitiveness in the future. We aim to become a leading ODM player in the global beauty market through a comprehensive AX transformation across product planning, development, production, sales, and management planning."