Amorepacific President Bae Dong-hyun (right) and MAP Group CEO Virendra Sharma pose after signing a business partnership at the MAP headquarters in Jakarta, Indonesia, on Wednesday. (Amore Pacific)
Korea’s top cosmetics maker Amorepacific Group said Monday it confirmed a business partnership with PT Mitra Adiperkasa (MAP), a leading retailer in Indonesia, strengthening its position as global beauty brand in the region.
According to the company, Amorepacific President Bae Dong-hyun and MAP Group CEO Virendra Sharma inked the agreement at the MAP headquarters in Jakarta, Indonesia, on Wednesday.
Under the partnership, Amorepacific will present its cosmetics brands, Sulwhasoo, Laneige, Innisfree and Etude House, via the distribution network of the Indonesian retailer, the company said.
MAP Group is a retail giant in Indonesia, possessing the local operations rights to many global channels, such as Sogo, Gallery La Fayette and Sephora, as well as brands such as Starbucks and Zara. The company operates over 2,300 stores in 70 cities in the country.
Indonesia is fourth in terms of population in the Asia-Pacific region, with its cosmetics market expected to grow to 11.45 trillion won ($9.58 billion) by 2023, almost double from 6.48 trillion won in 2018.
By Jo He-rim (email@example.com