US personal care ingredients maker Lubrizol has signed a memorandum of understanding with Chinese company Proya Cosmetics to accelerate the development of market-oriented beauty products.
Building on a 20-year relationship, both companies will leverage their respective strengths to innovate and market beauty products that meet local market needs and regulatory requirements, driving sustainable business and industry growth.
Proya focuses on research and development, manufacturing and commercialization of beauty products, including skincare, make-up, body & hair, and skin care, to meet the needs of wide range of consumers.
In combination with Lubrizol’s expertise in formulation design, as well as focus on technology and application, the expanded strategic agreement is expected to bring mutual benefits to both organizations.
“Proya has relied on Lubrizol’s scientific expertise and quality ingredients since our inception and look forward to continuing to offer consumers leading solutions based on the expertise of both organizations,” said Proya deputy general manager Yameng Hou.
“Proya is committed to cooperating with global industry leaders to remain at the forefront of innovation and provide customers with unparallelled experience,” he added.
Henry Liu, APAC Vice President, Lubrizol, said: “Since Proya’s inception 20 years ago, we have collaborated successfully to improve consumer beauty experiences and enabled new innovation that meets the trends and needs of China's cosmetic industry."
Lubrizol has invested in the Chinese market for over 30 years and brings nearly a century of proven innovation and performance.
The company has a tenured China and APAC-based team well attuned to the local market and continues to strengthen its local-for-local manufacturing, technical services and innovation capability in China.
