Health and beauty retailer AS Watson has signed a memorandum of understanding (MoU) with South Korea-based beauty company Amorepacific.
The partnership will help Amorepacific expand its brand reach while providing additional skincare options for customers.
Through the agreement, the two companies will be able to launch more derma and premium skincare brands, such as illiyoon and Aestura, to AS Watson’s customers in Asia and Europe.
It will also help Amorepacific respond to the increasingly diverse needs of customers in the beauty industry.
AS Watson currently has more than 16,100 stores under 12 retail brands in 28 markets.
Watsons give customers access to Amorepacific’s haircare brands, such as RYO and Mise-En-Scene, and its beauty brands, such as Etude and Innisfree.
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AS Watson Asia and Europe CEO Malina Ngai said: “Our strategic partnership with Amorepacific Group started in 2019 and we’re excited to take it to the next level. K-beauty products are globally lauded for their use of creative ingredients combined with science-backed formulas. We have observed that K-beauty is widely searchedand we continue to see steady increase in demand not only in Asia but also in Europe.
“For the A.S. Watson Group, we recorded a strong double-digit sales growth for overall K-Beauty products in the 12 months. Leverage our extensive O+O (Offline plus Online) retail platforms across Asia and Europe, I am excited about this strategic partnership with Amorepacific Group to enable our customers to access and experience an even wider range of quality beauty products inspired by the beautiful Korean culture.”