Amorepacific Group is seeking to penetrate the Indonesian beauty care market by concluding a business partnership agreement with MAP Group, the largest distribution company in the Southeast Asian country.
A partnership agreement signing ceremony was held between Bae Dong-hyun, CEO of Amorepacific Group and V.P. Sharma, CEO of MAP Group, at the latter’s office in Jakarta, Indonesia on Jan. 29.
Through this agreement, Amorepacific Group will launch products of the Sulwhasoo, Laneige, Innisfree, and Etude House brands through the distribution network of MAP Group.
The Indonesian partner is a large distributor that operates approximately 2,300 stores in 70 Indonesian cities. It works for global distribution channels such as SOGO, Gallery La Fayette and Sephora, and operates Starbucks and Zara shops in Indonesia.
Indonesia currently has the world's fourth-largest population, with its cosmetics market estimated at about 4.6 trillion won in 2018. Its cosmetics market is expected to grow to about 11.45 trillion won in 2023, according to market researcher Euromonitor.