据中国香妆协会产业研究中心主任姚永斌介绍：" 此次调研的核心目标，是建立一套统一的行 业评价体系，以解决化妆品上游长期存在的信息不透明、标准不统一等供应链痛点，最终引导 包材企业走向品牌化、高质量发展之路。 " 在化妆品行业，"包材"早已超越简单的容器概念，成为融合安全、情感、环保与创新的关键载 体，直接影响产品质感、用户体验乃至品牌价值。中国香料香精化妆品工业协会理事长、医学 博士颜江瑛的这番话，深刻揭示了在当下消费变革中，包材所承担的新角色。 中国香料香精化妆品工业协会理事长、医学博士颜江瑛 这意味着，化妆品包材的价值，正从"包装产品"走向"承载品牌"。 然而，长期以来，这个支撑着万亿美妆市场的重要环节，却缺乏一套科学的评价体系来告诉全 行业——谁才是真正的领军者？高质量的方向到底在哪里？ 这一空白在2 0 2 5年最后一天得以填补。在浙江丽水举行的美丽健康产业发展大会上，中国香 料香精化妆品工业协会（以下简称"中国香妆协会"）首次对外发布了《2 0 2 5中国化妆品包材 企业TOP3 0调研结果》。该调研以《中国香妆协会化妆品包材企业市场地位评价办法》为基 础，历时数月，经过多次实地调研、企业访谈与专家 ...

Group 1 - KKR plans to acquire South Korean cosmetics packaging company Samhwa for 800 billion KRW (approximately 4.16 billion RMB), marking a significant merger in the Asian market this year [1][6] - TPG, the seller, is set to make a substantial profit, having purchased Samhwa for about 1.5 billion RMB in 2023 and now selling it for a much higher valuation [1][5] - TPG's investment strategy involved significant operational improvements, leading to a nearly threefold increase in Samhwa's valuation within 20 months [2][7] Group 2 - Samhwa, originally a small plastic bottle cap workshop founded in 1977, evolved into a leading manufacturer of precision pumps for cosmetics, capturing a significant market share in South Korea [3][4] - The company has established long-term partnerships with major beauty brands, with nearly 60% of its sales coming from companies like L'Oréal, Estée Lauder, and LVMH [4] - TPG's acquisition strategy included streamlining product lines and enhancing production efficiency, resulting in a 38% reduction in labor costs and improved EBITDA margins [8][9] Group 3 - The buyout market is experiencing a resurgence, with private equity firms like KKR and Blackstone actively competing for high-potential assets, even amid global economic challenges [9][10] - Recent notable buyout transactions in China indicate a growing trend, with significant deals being completed by firms such as Sequoia China and Dehong Capital [11][12] - The complexity and high stakes of buyouts require not only successful acquisitions but also effective post-acquisition management to realize returns [12]

Core Viewpoint - KKR plans to acquire Samhwa, a prominent South Korean cosmetics packaging company, for 800 billion KRW (approximately 4.16 billion RMB), marking a significant merger in the Asian market this year [3][4]. Group 1: Company Overview - Samhwa started as a small plastic bottle cap workshop in 1977 and evolved into a leading manufacturer of cosmetic packaging, particularly known for its precision pumps [6]. - The company gained prominence by securing a 10-year exclusive global supply contract with Estée Lauder and currently generates nearly 60% of its sales from major beauty brands like L'Oréal and LVMH [6][7]. - TPG acquired 100% of Samhwa and its affiliates for approximately 300 billion KRW (about 1.557 billion RMB) in November 2023, initiating a series of management reforms that significantly increased the company's valuation [7][9]. Group 2: Investment Dynamics - TPG is set to earn around 900 billion KRW (approximately 4.653 billion RMB) from the sale to KKR, achieving a remarkable return in just 20 months [9][10]. - The valuation of Samhwa nearly tripled under TPG's management, highlighting the effectiveness of their operational strategies, which included streamlining product lines and enhancing production efficiency [10][11]. - TPG's approach involved focusing on high-margin precision pumps and automating production processes, resulting in a 38% reduction in labor costs and improved profit margins [10][11]. Group 3: Market Trends - The buyout market is experiencing a resurgence, with private equity firms actively pursuing undervalued assets, particularly in challenging economic conditions [12][14]. - Recent trends indicate a growing interest in buyouts, as evidenced by significant fundraising efforts from firms like EQT and Silver Lake Capital, which have raised substantial funds for acquisitions [12][13]. - The competitive landscape for buyouts is intensifying, with notable transactions occurring in both international and domestic markets, signaling a shift towards more aggressive investment strategies [12][13].

Group 1 - The global cosmetics industry is facing significant challenges, including major losses for international giants, layoffs, and strategic shifts among key players [2][3][4] - Dow Chemical reported a net sales decline of 7% in Q2 2025, with a total loss of $1.09 billion (approximately 7.82 billion RMB) in the first half of the year [4][5][7] - L'Oréal USA is closing its SalonCentric warehouse and laying off 79 employees as part of a restructuring effort, contributing to nearly 7,000 job cuts across the global beauty sector [8][12] Group 2 - Fempower Beauty, a lip product brand founded six years ago, announced its closure and is selling products at a 50% discount [15][20] - Samhwa, a major cosmetics packaging company, was sold to KKR for 800 billion KRW (approximately 4.16 billion RMB), highlighting the growing appeal of packaging manufacturers in the beauty industry [21][24] - Interparfums reported a 5.8% increase in sales for the first half of 2025, with plans to launch a new high-end perfume brand, Solférino Paris, amid a competitive fragrance market [31][39]