South Korean beauty and cosmetics conglomerate AmorePacific Group has announced plans to expand its beauty business into the Middle East by introducing cosmetics brand Etude House to the market in collaboration with Kuwait-based MH Alshaya.
The first Etude House store will open towards the second half of 2017, with plans to expand the business across the GCC. AmorePacific Corporation plans to use Dubai as its base in the Middle East. It has already established an overseas corporation, ‘AMOREPACIFIC ME FZ LLC’, in Dubai Design District (D3) to manage its business activities in the region. The company is 100% owned by AmorePacific Group.
“In the face of the dawning Eurasia era, AmorePacific seeks to move beyond Korea and create a route that connects China, South East Asia, India, the Middle East and Europe, with our unique ‘Asian Beauty’. The Middle East is in the middle of that route and it is a market with great potential as many people in the Middle East are turning their interests to Asian beauty products. We will make every effort to spread our ‘Asian Beauty’ culture to the customers in the Middle East by introducing innovative beauty products,” says Suh Kyungbae, CEO and chairman of AmorePacific Group.
“At Alshaya, we focus on offering our customers an unmatched choice of retail experiences with well-loved international brands. We are delighted to forge a partnership with AmorePacific Group to add Etude House to our portfolio of world-leading brands. We look forward to building a mutual success story with our new partners,” adds Mohammed Alshaya, executive chairman of MH Alshaya Co.
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