Amorepacific Sign MOU with Lazada, TerraCycle

KOREA: Amorepacific has signed a Memorandum of Understanding (MOU) with Southeast Asian ecommerce company Lazada Group to strengthen its strategic partnership and work together to solidify its brand outreach in Southeast Asia. The MOU is aimed at invigorating Amorepacific’s online business in a key global strategic region. Lazada will enable the beauty company to leverage the e-commerce platform’s extensive network and accelerate the growth and enlarge its market share in the region by showcasing its innovative “Asian Beauty” products to a greater consumer base. The MOU signing event was held at Amorepacific global headquarters in Seoul, in the presence of the key executives of both companies, including Amorepacific’s president Ahn Sehong and Lazada Group’s CEO Pierre Poignant. Both companies will work together to provide a differentiated customer experience in the Korean beauty category to consumers in the region. The MOU is expected to strengthen Amorepacific’s leadership in beauty products and services by leveraging Lazada’s digital technology and competitive standing in the e-commerce space.

The MOU will allow both companies to launch new brands and collaborate on various projects, such as exploring new retail business that combines online and offline channels as well as innovative data marketing. Both companies will also build a strategic partnership for the protection of intellectual property rights on Lazada’s online market to establish a stable e-commerce ecosystem.

“With this MOU with Lazada Group, we expect to see some mutually beneficial outcomes,” said Sehong. “Amorepacific will continue to create touchpoints with more ASEAN customers and promote innovation in the customer experience through the digital channel.”

“This partnership is our commitment and joint ambition to build our Asian beauty and skin care category and provide an elevated shopping experience,” said Poignant of Lazada Group. “Beauty is one of Lazada’s top product categories across the region and we are excited to combine our digital expertise with Amorepacific’s offerings to create the best shopping experience for our customers.”

Amorepacific already uses Lazada’s digital platform to distribute its key brands such as Laneige, Mamonde and Innisfree in major ASEAN markets including Singapore, Thailand and Vietnam.

In other news, Amorepacific has signed an MOU with TerraCycle. According to the accord,  Amorepacific will  recycle  at least 100 tons of empty plastic bottles each year for three years; increase the ratio of using recycled empty bottles for its products and furnishings 10% in the first year, 20% in the second and 30% in the third year; and achieve 100% recycling of empty bottles and 50% of those used for products and furnishings by 2025.