K-beauty has been all the rage in the West, encouraging investment from Western beauty players, so it's no surprise that Walgreens Boots Alliance is teaming with Korean hypermarket retailer Emart Co. Ltd. to tackle the vibrant South Korean beauty market. The deal will create a Boots-branded health and heauty retail franchise.
"Boots branded stores will be opened in shopping malls, on high streets and within the outbound areas of Shinsegae department stores and Emart hypermarkets," according to an official release. The stores will feature an independent pharmacy and a range of Boots owned products (including No7 and Soap & Glory), "exclusive to Boots" brands and Korean brands.
“South Korea is considered a leading market for skincare and cosmetics products in Asia today."
The first stores will open in the first half of 2017.
“South Korea is considered a leading market for skincare and cosmetics products in Asia today," said Ornella Barra, co-chief operating officer of Walgreens Boots Alliance. "We believe there is a significant opportunity to extend the reach of Boots own brands into this market and are thrilled to be doing so with Emart. Emart is the preeminent retailer in South Korea and their strong experience as well as their marketing expertise gives us great confidence in the long-term potential of this partnership.”
“We are delighted to have the opportunity to introduce the Boots brand, and offer pharmacy care as well as acting as a beauty and healthcare destination by also offering a wide range of both Korean and Boots product brands," said Gab-Soo, Lee, CEO of Emart Inc.