Amorepacific deal puts brands in Chinese duty-free stores
Amorepacific said Wednesday it signed a strategic partnership with China Duty Free Group (CDFG) to strengthen its global presence.
The agreement, which was signed at an online ceremony on Tuesday, aims to develop a sustainable partnership in the ever-changing business environment through further investment in marketing and the digitization of services, as well as sharing data assets between the two companies.
The partnership will boost support for the duty-free business in China’s southernmost Hainan region and launch Amorepacific's brands in more CDFG stores in China. Amorepacific will also have early negotiation opportunities when entering new stores, according to Amorepacific.
Amorepacific has been collaborating with CDFG since 2010. Currently, it is selling Sulwhasoo, Laneige, Innisfree and Primera products via CDFG’s distribution network.
“Amorepacific has continued its efforts to provide the best services and products to global duty-free customers via online and offline channels,” said Amorepacific Group President Ahn Se-hong during Tuesday’s online signing ceremony.
“We are happy to announce the strategic partnership with Amorepacific,” said CDFG CEO Charles Chen. “Chinese duty-free business pioneer CDFG has been working for Hainan’s tourism industry and economic development and it has secured its place as a leading company for duty free worldwide.”
Chen said the company will continue to foster the partnership with Amorepacific for the improved customer experience of Hainan’s beauty and lifestyle industry.
BY LEE JEE-YOUNG [firstname.lastname@example.org]