AmorePacific Group announced on Feb. 18 that it has signed an MOU with global health and beauty retailer A.S. Watson Group to strengthen its global strategic partnerships.
Ahn Se-hong, CEO of AmorePacific, said, "Under the MOU with A.S. Watson, we will come up with specific plans that will bring synergy between the two companies. In the future, AmorePacific will try to attract more global customers and change their experiences with the company in an innovative way."
"A.S. Watson and AmorePacific are both key players in the global beauty industry with proven experience and expertise," said Malina Ngai, chief operating officer of A.S. Watson Group. "Our gratitude goes to AmorePacific for selecting A.S. Watson as its distribution platform partner that will further grow in Asia and Europe."
A.S. Watson Group operates more than 14,900 stores of 12 retail brands in 25 markets worldwide. It offers the best shopping experiences and popular Korean products to global customers interested in K-beauty. A.S. Watson Group's K-beauty sector has grown 56 percent in Asia and 122 percent in Europe, including Russia and Turkey, since 2015.