EOS Lens Captures Indonesian Market: Expansion Case Study

Problem

Headquartered in Korea, EOS Company Limited is a company established in 2002. The company manufactures soft contact lenses through the casting mold and provides diverse designs and colors.

They have exported their product to more than 40 countries across the world.

EOS decided to enter the Indonesian market in 2016. However, since the products of EOS Lens are classified as medical devices, they need to be registered at the Indonesian Ministry of Health before the company can carry out its importation and distribution activities on the product.

Solution

InCorp Indonesia (an Ascentium Company) delivered consulting services to EOS Lens, providing local knowledge regarding regulations and compliances to register its products, including framing a business model and product registration under third-party product license holders. 

EOS Lens needed to complete several steps during the product registration, including class assignation, evaluation, and verification of their product.

InCorp Indonesia provided document management and promptly assisted EOS Lens in registering their business at relevant government institutions. In addition, we assisted EOS Lens in registering their first products before they were allowed to enter the Indonesian market. 

InCorp Indonesia helped design EOS Lens’ business model with the product registration in Indonesia under the third party to ensure that they can independently coordinate their business in the country, such as making future changes related to the distributors, product license holders, etc.

Since EOS Lens had no local partner in the country, InCorp Indonesia assisted them by acting as their product license holder. This scheme allowed EOS Lens to be more flexible in selecting their distributors and partners, minimizing the risks they have to worry about in entering the new market. 

Further, InCorp Indonesia provided EOS Lens end-to-end assistance to ensure they complied with local regulations and standard processes.

Services Provided by InCorp Indonesia

EOS Lens appointed InCorp Indonesia as its principal consultant for their product registration and product license holder registration. InCorp Indonesia provided full assistance by ensuring EOS Lens was equipped with the market regulation knowledge of the country. InCorp Indonesia provided the following services during the initial stage:

• Product Registration
  • Class Assignation for the product
  • Evaluation
  • Verification
• Product License Holder
  • Legal documentation, import licensing, and invoicing

Custom and clearance processesChallenge and Cross Services

Because the medical product registration required significant documentation, InCorp Indonesia and EOS Lens had to collaborate constantly to ensure the timely and accurate processing of all requested documents required by local regulations. 

InCorp Indonesia helps to ensure that the documents are submitted on time to avoid extra costs and delays. InCorp Indonesia’s dedicated and professional product registration team handled the registration process.

Result

Since EOS Lens had no local partner in the country, InCorp Indonesia assisted them by acting as their product license holder. 

This scheme allowed EOS Lens to be more flexible in selecting their distributors and partners, minimizing the risks they have to worry about in entering the new market.

EOS Lens can now successfully import and distribute its products through multiple distributors in Indonesia, allowing them to achieve greater market efficiency. Furthermore, their product registration was finished in a timely manner.