A.S. Watson and Amorepacific join forces to expand reach of K-beauty brands

Health and beauty retailer A.S. Watson Group and South Korea’s beauty company Amorepacific Group have signed agreement to further strengthen the collaboration between the two companies to entice customers around Asia with K-beauty.

This comes as global K-beauty products market generated US$8.3bn in revenue in 2021 and it is projected to reach US$18.32 bn by 2030, growing at a CAGR of 9.2% from 2022 to 2030, according to the recent K-Beauty Products Market Report by Straits Research. The partnership is formed based on the significant potential within the K-beauty market.

As part of the strengthened partnership, A.S. Watson Group and Amorepacific Group will collaborate to introduce more derma and premium skincare brands to A.S. Watson’s customers in Asia and Europe, such as illiyoon and Aestura. This partnership aims to expand the reach of these brands and provide customers with even more innovative and effective skincare options.

With over 16,100 stores under 12 retail brands in 28 markets, A.S. Watson Group is offering Amorepacific's haircare brands RYO and Mise-En-Scene, as well as beauty brands ETUDE and Innisfree to customers in Asia. Mise-En-Scene has been particularly well-received by customers and has been experiencing a compound sales growth of almost 30% since 2019.

Commenting on the partnership, Malina Ngai, CEO of A.S. Watson (Asia & Europe), 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 searched, and we continue to see steady increase in demand not only in Asia but also in Europe.”

A.S. Watson Group has recorded a strong double-digit sales growth for overall K-Beauty products in the past 12 months, according to Ngai. "Leveraging 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.”

Ngai said the company is also aware of the evolving needs of eco-conscious customers hence it will work together with Amorepacific to introduce clean beauty products that minimise environmental damage.

Meanwhile, Sangmok Lee, president of Amorepacific Group, said, “Through strengthening our partnership with A.S. Watson Group, we are poised to forge advantageous synergies between two industry leaders to effectively respond to the increasing diverse needs of customers in beauty care.”

MARKETING-INTERACTIVE has reached out to A.S. Watson Group for more information. 

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