Taiwane-Okinawa cosmetics joint venture in works
Tai Ho Group, a major Taiwanese cosmetics maker, and Point Pyuru, a company making basic skin-care products on Kume Island using deep-sea water, held a press conference at the Prefectural Office on Tuesday, to announce a joint venture to build a new factory on Okinawa to produce cosmetics for export to Asia and Western countries.
Tai Ho Group manufactures globally known brand-name cosmetics like L’Oreal under a license agreement. The aim is to introduce products made using Japanese technology and brand power, in order to enlarge the company’s share in luxurious cosmetics in the Asian and Western markets.
Point Pyuru brings know-how in Japanese-style production management and employment to the new company. The company also hopes that the joint venture will help it to enter oversea markets with their own products. The partners plan to start the business in 2018.
In the beginning, the new joint venture company would mainly produce cosmetics by licensing overseas and domestic brands. The Tai Ho Group will contribute over 51% of the capital for the venture. The companies are currently searching for a suitable factory facility to rent in Uruma or Okinawa City, and expect to hire 50 to 100 employees.