#Brief History of GENIC

GENIC (제닉) was founded in 2001 by Yoo Hyun-Oh, a holder of mater's degree in textile engineer and doctor's degree in chemical engineer (both from Hanyang University).

He always dreamed to start his own business when he was studying and working at Korea Institute of Science and Technology (KIST) as a lab researcher.

He once went backpacking to Australia and he found that Australians put a cold wet towel on their face to calm the heated face by sunlight, which gave him an idea of sheet mask to soothe and calm skin.

After he came back to Korea, he decided to start a business to fulfill the sheet mask idea, although it was such a brutal environment for business because of the currency crisis in Asia.

At the beginning, he was the only one who handled every single work related to the business: market research, sourcing, product development, sales, etc.

However, the mask sheet was just a new idea that was not proven and retailers/brand owners did not show much interests in the new innovative product.

Fortunately, GENIC was included in export delegation to the US as a new small/medium business in 2002 and he got a chance to show the products in the country.

As the result of his efforts, he could make contracts with some retailers including TARGET to supply mask sheets for about US$10 million in 2003.

He also made a contract with Boots in the UK and started making GENIC's presence in the beauty industry.

GENIC concentrated on the manufacturing agent business (ODM) at the beginning, but after 5 years of its start, they launched their own brand CELDERMA (셀더마) and released a new type of mask sheet: Hydrogel Mask.

They hired an ambassador Ha Yu-Mi, an actress famous for her porcelain skin, to promote and focused on selling them on TV home shopping channels, which shortly became a best seller.

Through many TV shopping channels, GENIC sold about 13 million Hydrogel mask monthly at the time.

Hydrogel mask, unlikely normal cotton mask sheet, is made of water soluble hydrogal which is melt by temperature of skin: GENIC created this new gel type mask and registered a patent in 2005.

Currently Hydrogel mask is known as just a type mask sheet and many other brands sell Hydrogel mask, however, it was such a huge innovation in 2006 when only normal cotton mask sheets were available.

# IPO & Global Expansion

10 years after GENIC was founded, GENIC was launched on stock market KOSDAQ in 2011 to maximize its operation with handful resources.

They upgraded their manufacturing facilities: they expanded its factory, established a design research center, and registered several certificates such as ISO-22716 (CGMP), ISO-14001 (Environmental management system), and ECO-CERT as well.

Also, GENIC is the first company that automated all process of producing mask sheets in Korea which improves quality and hygiene. GENIC acquired a license for producing over-the-counter (OTC) drugs as well.

GENIC also established a factory in China to meet the rising demands in the country and has been focusing on raising its business presence in the market.

In 2015, 25.44% of GENIC's share was bought by Soul Brain, a semiconductor manufacturer, and the founder Yoo Hyun-Oh had stepped down from his CEO position.

Currently GENIC is run by a former P&G executive Hwang Jin-Sun.

# CSR

GENIC has launched a non-profitable brand "Pure Tree" only for charity activities.

The heart-shaped shampoo is designed only for charity to the local people in Nonsan where GENIC's factory is located.

As the founder Yoo Hyun-Oh thought the CSR for the local neighbors, he decided to make this new brand only for the people in need.

# Downturn in China, Looking for Turnover

In 2017, GENIC recorded its sales of US$57 million which was declined 28% from its previous year's sales. The downturn was caused by a diplomatic trouble between Korea and China with the THAAD missile.

Despite the unfavorable situation, GENIC recently made a contract with FOREO to supply 30 million mask sheets and was selected as a excellent manufacturing partner of Amorepacific.

As their sales in 2018 is showing improvement, GENIC will recover quickly and represent K-beauty continuously.

# Representative Products manufactured by GENIC

1. CELDERMA - Ninetalks Hydrogel Mask

GENIC's own brand CELDERMA's hydrogel mask is the first hydrogel mask in the market.

Although Ha Yu-Mi is no longer an ambassador of CELDERMA, this hydrogel mask is still known as "Ha Yu-Mi Pack".The anti-aging peptide ingredient helps revitalize and calm skin.

2. BIOTHERM - Life Plankton Essence-In-Mask

GENIC produces a mask sheet of BIOTHERM's moisturizing and revitalizing line "Life Plankton".

As one of the most popular mask sheet manufacturers, GENIC produces for many other brands like BIOTHERM and Lancome.

3. Innisfree - Double Fit Lifting Mask

This mask sheets consist of 2 parts: One to hang in ears and one on the face.

As it is very hard to care chin and neck lines, GENIC created this new style of mask sheet to solve the inconvenience and it is popular regardless of ages.

4. ETUDE HOUSE - AC T.A.P.A. Gauze Mask (Calamine)

Most of this ETUDE HOUSE's online exclusive mask sheet line are produced by GENIC.

The line cares various skin concerns and this gauze type mask sheet is well ventilated and calming skin.

GENIC shows how creative a mask sheet could be with this fun mask sheet line :)

5. ETUDE HOUSE - Laugh Lines Care Patch

This fun specific spot-focusing patch effectively cares laugh lines.

As a GENIC's famous hydrogel patch, it moisturizes and soothes laugh lines to firm and revitalize.

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