Global beauty company Amorepacific Group is pleased to announce that it has entered into global strategic partnership with leading global health & beauty giant A.S. Watson Group, a strategic retail partner with wide and scalable distribution platforms in Asia and Europe both offline and online.
Amorepacific is the leading beauty company in South Korea, with over 70 years of experience in beauty and a wide brand portfolio. Striving to strengthen its business portfolio and introduce its premium beauty brands into new markets, Amorepacific sees A.S. Watson Group as the perfect retail partner to extend its brands’ reach into new markets and help its business expansion. This strategic partnership enables Amorepacific to increase its brands presence internationally, and continue to expand globally with its quality product range developed by cutting-edge technologies.
As the world’s largest international health and beauty retailer, A.S. Watson Group has a store network of over 14,900 stores under 12 retail brands in 25 markets. It is also the retail pioneer offering hottest and trendiest K-beauty products to its customers and becomes the go-to-place for K-beauty lovers. At A.S. Watson, core customer groups are relatively young, and K-beauty is experiencing 56% compound sales growth since 2015, and gaining traction in Europe with last year’s growth at 122%.
Before the formation of strategic partnership, A.S. Watson Group has already partnered with Amorepacific to successfully launch its botanical skincare brand Mamonde, haircare brands RYO and Mise-En-Scene across Asia region. The success reflects A.S. Watson’s capabilities in powerful brand launch through its scalable network and customer connectivity.
Malina Ngai, Group Chief Operating Officer of A.S. Watson Group is excited about the strategic partnership, “A.S. Watson and Amorepacific are both leading players in serving beauty customers. Our customers love Korean beauty products that bring not only innovation but also quality. This is what Amorepacific can provide.
“Through this partnership, we are both passionate and committed to combining our knowledge and capabilities to bring the best products and shopping experience to our customers.”
Saehong Ahn, President of Amorepacific Corporation says, “Through the partnership with A.S. Watson Group, we look forward to developing concrete plans that create synergy and is a win for both companies. Amorepacific will continue our efforts to expand accessibility for customers globally, and create novel experience for customers in 2019.”