THE WHAT? Amorepacific has announced a strategic partnership with travel retail company China Duty Free Group (CDFG) in a bid to ‘drive mutual growth’ for new stores.
THE DETAILS As part of the collaboration the two companies will work to enhance local operation in Hainan, drive growth for new stores and brands, as well as mutually support growth in a ‘rapidly changing’ market with a focus on investment marketing and digital transformation for a ‘differentiated customer experience.’
Focusing specifically on the Hainan travel retail market, the two companies plan to bolster digital communication content, provide extensive support for marketing and product as well as developing a workforce exclusive to the region.
THE WHY? The partnership aims to capitalize on the continued recovery of the Chinese travel retail market following the shutdown caused by the pandemic.
Discussing the future of the partnership, Amorepacific President Saehong Ahn said, “Amorepacific is keenly observing the rapidly changing travel retail market and lifestyle of travel retail customers all around the world.
“Thus, it is responding in both online and offline retail channels to provide the best quality service and product. 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.”