Local cosmetics market sees entry of Taiwanese brand

Taiwan's cosmetics market saw the introduction of a new line of products which was not only developed and manufactured by a local biotechnology company but which has also been given a brand name of its own -- Nugen.

With the cooperation of the Industrial Technology Research Institute in the technological development of the new line, the Hsinchu-based Nugen Bioscience Co　(金銥生技) introduced last week its Nugen cosmetics at five department stores in Taipei, Hsinchu, Tainan and Kaohsiung.

The company hopes that the brand name products will generate revenues of around NT$80 million (US$2.39 million) this year, Nugen Bioscience President Chang Chue-chien (張覺前) said.

Meanwhile, the company is also planning to form an alliance with other Taiwanese makers of brand name products, such as Formosa Plastics Corp (台宿) and Taiwan Sugar Corp (台糖), in an effort to make inroads into international markets, Chang said.