K Beauty powerhouse Tonymoly has invested 23 billion won in a new manufacturing facility based in Zhejiang Province, China.
The build will be through its affiliate Megacos and will span a 59,400 area with the aim for the company to be able to produce 8 million units of skin care through the facility a year by 2018.
A spokesperson for Tonymoly said, “TonyMoly will show off Korea’s excellent production technology by carrying out OEM/ODM projects mainly for makeup products.”
The site is set to completed by June 2017, with production hoped to be upped to 25 million products annually by 2020. Eight local companies have already signed contracts, proving the company’s aim to expand further in the Chinese market.