AmorePacific & Watson Sign MOU as Part of Global Strategy

 

 

[BUSINESS KOREA] AmorePacific and Watson signed a memorandum of understanding (MOU) as a global strategic partnership June 21.

Watson already carries AP brands like Innisfree, Etude and Mise en Scene, but plans to include other brands such as Illyoon and Aestura.

Watson is based in Hong Kong but has a global reach, with over 16,000 stores worldwide in 28 markets including Europe, the Middle East and South East Asia.

Musings

I am loving AP's global moves of late. I've talked about AP's moves in a few other posts, and it looks like they came up with a strategy that makes sense to an outside observer. I had a whole comment in r/AB about what felt like AP didn't know what they were doing or what they wanted the last few years. Odile's recent shopping guide video touched on Kbeauty brands' domestic changes as well - from going from roadshops to more or less consolidating in Olive Young - so a reworking of both domestic and international strategies is definitely going to feel hiccupy to outsiders.

This partnership with Watson seems like a brilliant way to still have some presence in the Chinese market and covers their goal of expanding into the European market, while also leaves the door open for other markets as well.

 (L) Older - Sulwhasoo US (as of July 2023) / (R) New - Sulwhasoo Official IG 

The only thing I don't love of their "global brand" approach is their packaging. Not that their older packaging was all that great. Yes, I include Sulwhasoo in there, I didn't love the more recent older one either. But at least it felt unique.

I know the new packaging is supposed to be reminiscent of Korea's white porcelain, but you can't tell me they couldn't have done more with that packaging. Like this lunar new year cutie. 

Sulwhasoo Official IG

Unless they wanted a blank canvas to more easily incorporate special edition designs (if this doesn't happen, it'll be pretty upsetting).

But even across their lesser brands, there is just a weird transition from functional to barren and boring.

(L) Older - KoreanBeautyAlbania (July 2023) / (R) New - Etude (July 2023)

I agree that the general mood now is minimalism - I think we can all agree the idea of "excess" has some negative environmental impacts and $$$$ we don't have, but you can still incorporate a touch of uniqueness into a minimalist style.