“PYFAGROUP Targets the K-Beauty Market by Partnering with a Leading Korean Beauty Company
Jakarta, November 19, 2024 – In response to the growing demand for beauty and skincare products in the Indonesian market, PYFAGROUP, through its subsidiary PT Pyridam Farma Tbk, is expanding its business with the launch of PYFABEAUTY. This strategic move is made possible through a partnership with CNT Dream, one of South Korea’s largest original design manufacturers (ODMs) in the beauty industry.
This collaboration involves the transfer of advanced technology from South Korea to Indonesia, rigorous research and development (R&D) processes to ensure product safety and efficacy for consumers, and broader access to premium products.
Antes Eko Prasetio, Chief Commercial Officer of PYFAGROUP, stated, “By synergizing CNT Dream’s technological strength and R&D capabilities with PYFA’s experience in developing the Indonesian market and its extensive network across various sectors, we are confident that this collaboration will elevate the Indonesian beauty market to a higher level.”
According to market research conducted by Statista in 2024, Indonesia is one of the largest beauty markets in Southeast Asia, with the cosmetics industry projected to grow at a compound annual growth rate (CAGR) of 4.86% until 2029. The high demand for innovative and high-quality products, particularly in the skincare and cosmetics categories, presents a significant opportunity for companies to meet the needs of increasingly discerning and health-conscious consumers.
This collaboration is not only a strategic move but also an effort to accelerate innovation in the Indonesian beauty industry. PYFABEAUTY serves not only as a new beauty brand but also as a catalyst connecting international technology with local needs.
About PYFAGROUP
PYFAGROUP is a pharmaceutical holding company with business units in prescription drugs, over-the-counter (OTC) drugs, consumer healthcare, medical devices, beauty products, and injections. PYFAGROUP oversees four subsidiaries: PT Pyridam Farma Tbk, HoliPharma, PT Ethica Industri Farmasi, and Probiotec – Australia.
About PYFABEAUTY
PYFABEAUTY is a business unit of PT Pyridam Farma Tbk, focused on the development and distribution of personal care, skincare, and cosmetic products. Committed to providing high-quality products, PYFABEAUTY continuously innovates and introduces products that align with market trends.
For more information, please visit:
Website: www.pyfa.co.id
Email: corcomm@pyfa.co.id
