Amorepacific and e-commerce platform Shopee have signed a memorandum of understanding to bolster the growth of Korean beauty and reach more beauty shoppers in Southeast Asia.
The deal includes Taiwan becoming a new market for the Korean beauty giant, and comes at a time when the growth in demand for premium beauty products is outpacing that of mass beauty brands on Shopee.
K-beauty — especially skin care — remains popular in Asia. During Shopee’s major annual campaigns between September and December 2020, brands from Amorepacific, including Laneige and Innisfree, ranked among beauty’s top five.
“This is driven by consumers’ preference toward skin care products made with unique, natural-ingredient formulas and personalized beauty solutions, as well as the global rise of Korean pop culture, particularly through Southeast Asia,” Shopee and Amorepacific said in a joint statement.
Since Amorpacific launched on Shopee Mall in 2018, it has registered more than 13-times growth in gross merchandise value and doubled its e-commerce activity regionally, in 2020.
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“The leading Asian beauty [company] aims to take its success further on Shopee with data-driven strategies, joint marketing efforts and more cobranded collaborations,” the companies said.
That includes Amorepacific — with a portfolio of brands also including Sulwasoo, Mamonde, Ryo, Mise en scene and Etude — using Shopee’s consumer insights to help prelaunch new products. Amorepacific will also consider introducing brand ambassadors into its campaigns on Shopee.
“With Shopee’s deep understanding of the local market landscape in the region, engaged users and data expertise, we believe that Amorepacific and Shopee together will be able to better serve the needs of consumers by bringing more of our world-class products to them,” said Michael Youngsoo Kim, head of Amorepacfic APAC regional headquarters.
“We also look forward to the first regional campaign of Sulwhasoo on Shopee Premium, which will help to expand our brand presence with the growing online luxury beauty shoppers,” he continued.
Sulwasoo was successfully launched on Shopee in Indonesia, Vietnam and Thailand last year, and will possibly introduce a brand membership program on the platform.
“As one of the invited brand partners of Shopee’s newly launched Regional Champion Brands Programme, we are confident [about] helping Amorepacific capture more growth and opportunities regionally with priority access and support on all regional initiatives and resources,” said Chris Feng, chief executive officer of Shopee.
“This partnership will also enable us to tap [into] their vast portfolio and industry expertise to strengthen Shopee’s beauty and personal care offering, giving our shoppers more choices, as well as upgrading the online shopping experience,” he said.
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