We believe cultivation and maintenance of customer loyalty is crucial to our continued success. We maintained stable business relationships with our customers during the two years period in 2015 and 2016. Our top five customers during the two years period in 2015 and 2016 included a globally renowned chain superstore group originated in the U.S. and beauty products brand owners. Four of them have had 10 years or above business relationships with us.
We have close working relationship with our customers throughout the sales process from the product design and development stage to production phase and product delivery. We communicate with our key customers to better understand their needs and produce products to match the desired image of their brands. Representatives from our customers may visit our showroom in our Hong Kong office to discuss product development plans and tour our Cosbe Facility.
We believe that by consistently providing our customers with quality products and services on a timely basis, we have and will continue to win the trust of our customers, and are well positioned to develop new relationships with prospective customers in pursuit of our growth strategy.
We have an extensive product offering that covers a wide selection of beauty products, covering colour cosmetics, toiletries and fragrances, and beauty bags. We manufacture our offered beauty products, but purchase packaging materials and components such as make-up brushes from our suppliers. According to the F&S report, our ability to offer an extensive range of beauty products covering not only one but three categories, as well as beauty bags that can be included in gift sets of beauty products, and complement our beauty product offerings, is a factor which differentiates us from our competitors.
We consider our design and development capabilities are value-added services to our customers. Our design team of beauty products and beauty bags is headed by our chief designer based in Hong Kong with approximately 18 years of experience in the design industry. Our designers attended tradeshows and exhibitions to keep abreast with the latest market trends and knowhow and strive to design and develop new products to meet customers’ demands and needs, as well as respond to evolving trends and changing consumer tastes. Our research and development team also consists of four technicians, one of whom possesses a science related graduation certificate, as well as one manager and one supervisor who also possess science related graduation certificates. We are also supported by a development engineer who is a qualified cosmetics formulator by the National Vocational Qualification Examination Certification Centre* (全國職業資格考試認證中心).
We place strong emphasis on the quality of our product offerings and have therefore implemented a quality control system that complies with international standards. We maintain quality control throughout our production process, from the sourcing of raw materials and supplies to the manufacturing processes as well as the delivery of finished products. Our Cosbe Facility first obtained ISO 9001 and GMPC certifications in 2006 and 2008, respectively, and continued to conform with such standards.
Our Cosbe Facility has also gone through and passed the factory audits as required by some of our customers during the two years period in 2015 and 2016 and complied with their selection requirements. In particular, being a beauty product manufacturer for a globally renowned chain superstore group originated in the U.S., we implement quality standards over exported products concerning areas such as environmental and safety concerns, etc. The globally renowned chain superstore group originated in the U.S. has conducted factory audits on our Cosbe Facility during the past two years period in 2015 and 2016 and we have passed such factory audits. We believe that our continuous focus on maintaining quality control standards has enabled us to attain a strong reputation and retain and expand our customer base over the years.
We have an experienced and loyal management team led by our founder and executive Director, Mr. Or Naam. A majority of our management team members have been with us for over 20 years. Our founder has approximately 14 years of experience in the beauty products industry. The management team led by our founder has diversified experience in accounting and finance, merchandising, sales and marketing, and production.
Our management team has also developed stable business relationships with major suppliers and customers. We believe that the industry knowledge and diversified experience of our management team together with their knowledge of market trends and customers’ needs constitute an important element of our success and future development, and enables us to respond efficiently to various challenges from the changing market conditions.
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