A matching specialist of KITA received an inquiry sent by a Russian buyer through tradeKorea.com, a B2B marketplace run by KITA. The buyer wrote, “We have checked on your website the e-catalog of Hanbit Green Bio Co., Ltd., a Korean cosmetics company, and would like to make a deal.”

The matching specialist first conducted a credibility check of the Russian buyer. It was a large, specialized cosmetics distributor and seller in Russia, partnering with leading Swiss and U.S. cosmetics companies as a local agent. The buyer recently took interest in cosmetics in Asian countries, including Korea, and Hanbit Green Bio Co., Ltd. was its first choice.

Russia has different regulations regarding cosmetics compared to Korea. All cosmetics imported to Russia must acquire GOST-R and sanitary certification from relevant authorities in advance. As the Russian buyer had to pay the cost for this process, it demanded exclusive sales rights for Hanbit Green Bio Co., Ltd. cosmetics in Russia.

The buyer conducted a test of the samples, and found out the products were of high quality. It took a step forward by ordering samples for experiment, which are required in Russia’s customs procedures. Hanbit Green Bio Co., Ltd. sent new samples for free.

After conducting several tests and overcoming various difficulties, the two companies finally signed an exclusive sales agreement. Now the buyer says that the quality of Hanbit Green Bio Co., Ltd. products are so high that it is considering selling them at premium prices. It also asked the seller to engage in direct advertising activities in the Russian market.