Amorepacific Group Chairman Suh Kyung-bae delivers a commemorative speech at an on-line 75th anniversary event on Sept. 4.

Amorepacific signed a strategic partnership with China Duty-Free Group (CDFG), China’s biggest duty-free distribution company, on Oct. 13.

The deal was signed in a contactless fashion due to the COVID-19 pandemic.

Under the agreement, Amorepacific will strengthen cooperation the Korean cosmetics company has maintained with CDFG. The deal is expected to enable Amorepacific to lay a foundation to maintain growth in the global duty-free market via the Chinese duty-free market, which has seen explosive growth.

Under the strategic partnership, Amorepacific will ramp up strategic support to the duty-free business in the Hainan area.

(left) President An Se-hong of Amorepacific and Chairman Charles Chen of China Duty-Free Group (CDFG) attend an on-line ceremony in which the two companies signed a strategic partnership on Oct. 13. (Photos: Amorepacific)

The two companies will make joint efforts to boost their businesses through preferred negotiations for the opening of new outlets and the expanded release of new brands, ramp up marketing for differentiation experiences for customers and investments for digital transformation, and build up a swifter, closer cooperative regime through the spurred sharing of data assets.

The steps are designed to help both sides forge a sustainable business relationship so that they can grow in the rapidly changing market environment.

Amorepacific President An Se-hong said, “Amorepacific is making its continued efforts to offer best services and products to global duty-free customers on- and off-line channels.”

He expressed hope the signing of the partnership with CDFG will maximize synergetic business effects between the two companies and serve as an opportunity to get a better understanding of Chinese customers.

CDFG Chairman Charles Chen said CDFG has made efforts to develop Hainan’s tourism industry and economy, and has established it as a global duty-free leader as it has grown as China’s biggest duty-free company.

He expressed hope CDFG will further consolidate partnership with Amorepacific to ramp up superb beauty lifestyle and improve customers’ experiences.