Global beauty company Amorepacific Group has inked a strategic partnership with global health and beauty giant A.S. Watson Group, as it strives to strengthen its business portfolio and extend its brands’ reach into new markets.
Before the formation of the strategic partnership, A.S. Watson Group had already partnered with Amorepacific to launch its botanical skincare brand Mamonde, haircare brands RYO, and Mise-En-Scene across Asia.
Amorepacific sees A.S. Watson Group as a strategic retail partner with wide and scalable distribution platforms in Asia and Europe, both offline and online. This strategic partnership enables Amorepacific to increase its brand’s presence internationally, and continue to expand globally with its quality product range developed with cutting-edge tech.
Malina Ngai, group chief operating officer of A.S. Watson Group,said, “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.”
Ngai added, “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.”
A.S. Watson has a store network of over 14,900 stores under 12 retail brands in 25 markets. The brand’s core customer groups are relatively young, and K-beauty is experiencing 56% compound sales growth since 2015 and is gaining traction in Europe. Last year’s growth hit an impressive 122%.
Saehong Ahn, president of Amorepacific Corporation, said, “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.”