Cosmogen acquires Asquan Group to scale beauty packaging
The move marks what both sides describe as a new growth phase, aimed at making the combined group a leading global partner for established and emerging beauty brands across all their packaging requirements.
CHINA – French beauty‑packaging specialist Cosmogen has completed a 100% acquisition of Hong Kong‑headquartered supplier Asquan Group, forming a new entity called Cosmogen&Asquan Group.
The enlarged organisation will be led by Priscille Allais as CEO, with Henri Tinchant, founder of Asquan, serving as COO.
Allais emphasised that Cosmogen and Asquan are “highly complementary,” both in the breadth of their product portfolios and in the diversity of their client bases, enabling the merged group to serve a wider spectrum of brands without duplicating efforts.
The transaction was facilitated by Weinberg Capital Partners, the private‑equity investor that took a majority stake in Cosmogen in late 2024.
Asquan offers a broader catalogue of airless solutions, lip‑gloss units, mascaras in pump bottles and jars, plus a standard packaging range especially popular with mass and masstige brands, and the ability to craft high‑quality custom components.
This complements Cosmogen’s stronger focus on applicators and premium and luxury‑segment solutions, with very little overlap in their existing client portfolios.
The merger is designed to allow Cosmogen&Asquan Group to function as a true one-stop shop for beauty packaging, offering an expanded range that spans skincare, haircare, makeup, and fragrance, from globally standardised formats to bespoke developments.
The combined entity brings together nearly 80 employees and achieves consolidated annual revenue of about USD 50 million, with operations across Europe, the United States, Asia, and the Middle East.
Its client list includes heavyweight groups such as LVMH, L’Oréal, Puig, Clarins, and Shiseido, as well as trend‑driven brands including Caudalie, Westman Atelier, Huda Beauty, Kayali, and Martine, underlining the group’s capacity to serve both classic luxury and fast‑growing digital‑native portfolios.
Henri Tinchant, COO, stressed that the added scale strengthens the group’s industrial footprint, technical expertise, and service capacity, while allowing Cosmogen&Asquan to maintain a close, high‑touch relationship with its clients.
The deal is framed as reinforcing the group’s environmental and social commitments, with Cosmogen&Asquan Group positioning itself as a partner for brands that are themselves global and under pressure to raise sustainability standards.
Beyond the product‑portfolio expansion, the merger crystallises a “fabless” model, where Cosmogen&Asquan Group focuses on R&D, innovation, and strategic sourcing rather than owning large captive manufacturing plants.
The group will continue to rely on a robust international industrial network, particularly Asian partners with specialised technical capabilities, to combine design creativity, technical performance, and fast execution cycles.
Allais confirmed that the company deliberately chose to remain focused on design, development, and innovation, using strategic sourcing from Asian suppliers to ensure speed‑to‑market, cost efficiency, and access to cutting‑edge manufacturing techniques.
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