South Korean beauty giant, Amorepacific has announced a new partnership with China’s leading travel retailer CDFG (China Duty Free Group); a decision driven by ‘the high growth potential of the Chinese travel retail industry which has been fuelled by authorities support and strong domestic demand despite the COVID-19 crisis’, said Amorepacific.

 

Since entering the travel retail channel, Amorepacific has expanded its presence to over 440 locations driven by pillar brands Sulwhasoo, Laneige and Innisfree.

 

Since the opening of its Laneige shop with CDFG in 2010, Amorepacific and CDFG have maintained a strong relationship. Currently, four of Amorepacific’s brands – Sulwhasoo, Laneige, Innisfree and Primera – are stocked in over 80 stores across CDFG’s retail network.

 

The new agreement entails enhancing a strategic partnership between the two companies for local operations in Hainan, whilst driving mutual growth through new stores and the expansion of new brands.

 

‘DIGITAL TRANSFORMATION’

Both companies have also agreed to support each other’s growth through ‘enhanced’ investment in marketing and a digital transformation for a differentiated customer experience, thereby ‘building a sustainable and healthy retail business ecosystem’.

In particular, Amorepacific and CDFG will focus on the Hainan travel retail market which appears to be leveraging on a revival of China’s domestic tourism. “They decided to enhance digital communication content, provide extensive support for marketing and products, and develop a workforce exclusively for the Hainan market to improve satisfaction of travel retail customers,” said Amorepacific of its partner.

 

The partnership ceremony took place online with Amorepacific President Saehong Ahn, CDFG President Charles Chen, CDFG Vice President Zhao Feng, David Park, Senior Vice President of Amorepacific Global Travel Retail Division and Terry Chua, Vice President of CDFG, Central Merchandising Division in attendance.

 

“Amorepacific is keenly observing the rapidly changing travel retail market and lifestyle of travel retail customers all around the world,” said Amorepacific President Saehong Ahn.

 

“Thus, it is responding in both online and offline retail channels to provide the best quality service and products. This partnership with leading global travel retailer CDFG will help us better understand Chinese customers, boost synergy between both companies and raise our brand awareness in the Chinese travel retail market with strong growth potential.”

 

“We are delighted to enter into our strategic partnership with Korea’s no.1 beauty company Amorepacific,” said CDFG President Charles Chen.

 

“We are pathfinders in the Chinese travel retail industry and in particular, through close cooperation with Amorepacific over the past 10 years for Hainan tourism and economic development, we have grown into the largest travel retailer in China and a leader in the global travel retail industry.

 

“We are looking forward to continuing our strong partnership with Amorepacific for better customer experience in the field of beauty and lifestyle.”