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Lazada, South Korea's Amorepacific ink MOU to boost brand reach in South-east Asia
E-COMMERCE company Lazada Group and beauty product firm Amorepacific have signed a memorandum of understanding (MOU) to strengthen their partnership and enhance their brand outreach in South-east Asia.
Amorepacific wants to invigorate its online business in South-east Asia, a key global strategic region for the company.
The South Korean company will utilise Lazada's network to accelerate growth and enlarge its market share in the region by showcasing its products to a greater consumer base.
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. To establish a stable e-commerce ecosystem, the companies will also build a strategic partnership for the protection of intellectual property rights on Lazada's online market.
Amorepacific already uses Lazada's digital platform to distribute its key brands such as Laneige, Mamonde, innisfree and Etude House, in major Asean markets including Singapore, Thailand and Vietnam.
The MOU was signed at Amorepacific's global headquarters in Seoul.
"With this MOU with Lazada Group, we expect to see some mutually beneficial outcomes," said Amorepacific president Ahn Sehong. "Amorepacific will continue to create touchpoints with more Asean customers and promote innovation in the customer experience through the digital channel."
Said Pierre Poignant, CEO of Lazada Group: "This partnership is our commitment and joint ambition to build our Asian beauty and skincare category and provide an elevated shopping experience.
"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."