Tokiwa Corp. and Carlyle Group partner to capture growing demand for colour cosmetics
Yusuke Watanabe, director of the Carlyle Japan advisory team told CosmeticsDesign-Asia that the company saw an opportunity to help cosmetic brands keep up with the growing demand for colour cosmetics.
“We look forward to working with Tokiwa as the company continues to create ’beauty, emotion and joy‘ for its customers around the world,” said Watanabe.
Focusing on global expansion
The alliance with Carlyle will allow Tokiwa to expand its business operation not just in the Asian region but globally as well.
The aim is to establish the company as a global leader in cosmetics manufacturing.
“Tokiwa has served the world’s top global brands with sales network in Asia, the US and Europe. Carlyle will help the company accelerate its expansion into the US and Europe while continuing to serve growing demand in Japan and APAC,” said Watanabe.
Carlyle has previously invested in cosmetics companies such as beauty brand Philosophy and Vogue International, which produces hair care brands OGX and Maui Moisture.
With its knowledge of the cosmetics and consumer industries, corporate management skills and global network, Carlyle can help Tokiwa grow overseas.
“Carlyle will work closely with TOKIWA’s management team to enhance the company’s business operations, assist its marketing efforts, and expedite the company’s domestic and overseas expansion,” said Watanabe.
Hitomi Hibino, executive vice president of Tokiwa added: “We are pleased to work with Carlyle, which has a proven record in Japan and will add impetus to our organisation’s initiatives.”
New US facility to begin operations this year
Tokiwa’s first step to expansion is starting operations at its first US factory this year in New Jersey.
The 150,000sq foot facility will contain a fully operational and developmental R&D laboratory staffed with both Japanese and locally based formulators and chemists.
With the new factory, Tokiwa will be able to better serve the needs and demands of its US and European-based customers as well as reach new customers.
The facility will produce many of the same items as currently produced in Japan, said the company.
Tokiwa also operates five other cosmetic manufacturing sites in Japan, China and the Philippines.
Watanabe highlighted that the companies will not neglect the APAC market and plans to expand the capacity of its facilities in Japan.
Lastly, said Watanabe, the companies plan to build a global management infrastructure while Tokiwa’s current management members led by Executive Vice President Hitomi Hibino will continue to lead the business.