AmorePacific and AS Watson form multinational alliance
South Korean beauty group Amorepacific and AS Watson have expanded their partnership to cover Asia and Europe.
The partnership will enable Amorepacific to increase its product presence through Watsons-owned stores and online.
Before this, the two had already partnered to launch Amorepacific’s botanical skincare brand Mamonde, haircare brands RYO and Mise-En-Scene across Asia.
“AS 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,” said Malina Ngai, AS Watson Group COO.
“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.”
President of Amorepacific Saehong Ahn said the group “looks 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 this year.”
AS Watson Group has a store network of more than 14,900 stores under 12 retail brands in 25 markets. Included in that are about 6800 Watsons health and beauty stores in 12 markets in Asia and Europe.
Core customer groups are relatively young, and K-beauty is experiencing 56 per cent compound sales growth since 2015, and gaining traction in Europe with last year’s growth at 122 per cent.
Amorepacific is the leading beauty company in South Korea, with more than 70 years of experience in beauty and a wide brand portfolio.