Amorepacific inks Memorandum of Understanding with Shopee to boost growth of K-beauty and reach more beauty shoppers in Asia

Partnership will also aim to drive premium category growth with launch of Sulwhasoo regional campaign on Shopee Premium

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SINGAPORE – Media OutReach –
15 February 2021 – Shopee, the leading e-commerce platform
in Southeast Asia and Taiwan, and Amorepacific, Korea’s leading beauty company,
have signed a Memorandum of Understanding (MOU) to strengthen regional
partnership and accelerate
the growth of K-beauty in the booming online beauty category in Southeast Asia.
This year, Amorepacific will not only be focusing on growing its online
presence in Southeast Asia, but have also included Taiwan as a new market
within the partnership to boost its reach and share in the wider region.

 

Mr Michael
Youngsoo Kim, Head of Amorepacific APAC Regional Headquarters and Mr Chris
Feng, Chief Executive Officer, Shopee, signing the MOU at Shopee’s Regional
Headquarters in Singapore

 

Since launching on
Shopee Mall in 2018, Amorepacific has recorded more than 13x of growth in Gross
Merchandise Value (GMV), and doubled its e-commerce business regionally, in
2020. The leading Asian beauty brand aims to take its success further on Shopee
with data-driven strategies, joint marketing efforts and more co-branded
collaborations. Amorepacific also aims to expand the coverage of its current
portfolio of brands on Shopee to
more markets, in order to meet untapped demand and provide more
assortment to consumers. These brands include Sulwhasoo, Laneige, Mamonde, Ryo, Mise en scene, innisfree
and Etude.

 

Michael
Youngsoo Kim, Head of Amorepacific APAC Regional Headquarters, said, “As our key e-commerce partner in the region, we are glad that we have
seen strong and successful results with Shopee, and want to take it further by
collaborating on new and innovative initiatives. With Shopee’s deep
understanding of the local market landscape in the region, engaged users, and
data expertise, we believe that Amorepacific and Shopee together, will be able
to better serve the needs of consumers by bringing more of our world-class
products to them. We also look forward to the first regional campaign of
Sulwhasoo on Shopee Premium, which will help to expand our brand presence with
the growing online luxury beauty shoppers.”

 

Chris Feng,
Chief Executive Officer at Shopee, said, “As one of the invited brand partners of
Shopee’s newly launched Regional Champion Brands Programme^[1] , we are
confident of helping Amorepacific capture more growth and opportunities
regionally with priority access and support on all
regional initiatives and resources. This partnership will also enable us to tap on their vast portfolio and
industry expertise to strengthen Shopee’s beauty and personal care
offering, giving our shoppers more choices, as well as upgrading the online
shopping experience. We look forward to working with Amorepacific to achieve
even greater success than before, as they scale their presence and investment
on e-commerce this year forward.”

 

Exclusive regional campaign for Sulwhasoo to drive
premium category growth

 

With the growth in demand of premium beauty brands
exceeding mass beauty brands on Shopee , Amorepacific will
be launching the first regional campaign for Sulwhasoo on Shopee Premium this
April, to drive online sales and premium category growth on e-commerce. This
follows the exemplary performance of Sulwhasoo’s launch in Indonesia, Vietnam
and Thailand on Shopee last year.

Sulwhasoo can curate brand content and tap on the differentiated user experience on Shopee Premium to enhance its brand storytelling, and deepen engagement with the growing number of premium and luxury consumer segments. The beauty brand will also explore launching a brand membership programme on Shopee to reward loyal shoppers.

 

Engage users with personalised and unique content

 

Amorepacific also
aims to leverage Shopee’s market leadership and deep data insights into
consumer shopping trends and behaviour, to help pre-launch new exclusive
products that serve existing brand lovers and acquire new users. In addition,
Amorepacific will also explore introducing its brand ambassadors such as
popular Korean celebrities and artistes, into its Shopee campaigns,
strengthening its brand affinity and awareness with consumers across the
region.

 

Korean beauty and
skincare continues to attract a huge following in Asia and beyond^[3]. In
Shopee’s annual mega campaigns from 9.9 to 12.12, Amorepacific brands such as
Laneige and innisfree consistently ranked in the top five of the beauty
category. This is driven by consumers’ preference toward skincare products made
with unique, natural ingredient formulas^[4]
and personalised beauty solutions, as well as the global rise of Korean pop
culture, particularly throughout Southeast Asia.

About Amorepacific

Since 1945,
Amorepacific has had a single, clear mission: to present its unique perception
of beauty– namely what it calls ‘Asian Beauty’ — to the world. As Korea’s
leading beauty company, Amorepacific draws from its deep understanding of both
nature and human to pursue harmony between inner and outer beauty. With its
portfolio of over 20 cosmetics, personal care, and health care brands,
Amorepacific is devoted to meeting the various lifestyles and needs of global
consumers around the world: Asia, North America, Europe, Oceania and the Middle
East. Amorepacific’s research hubs located around the world are dedicated to
sustainable R&D that combine the best of natural Asian ingredients and
advanced bio-technology. With its world-class products, Amorepacific is
acclaimed for the innovative ways in which it is transforming global beauty
trends.

About Shopee

Shopee is the leading e-commerce platform in Southeast Asia and Taiwan.
It was launched in 7 markets in 2015 to connect consumers, sellers, and
businesses in the region.

 

Shopee offers an easy, secure, and engaging experience that is enjoyed
by millions of people daily. It offers a wide product assortment, supported by
integrated payments and logistics, as well as popular entertainment features
tailored for each market. Shopee is also a key contributor to the region’s
digital economy with a firm commitment to helping brands and entrepreneurs
succeed in e-commerce.

 

Shopee is a part of Sea Limited (NYSE:SE), a leading global consumer
internet company. In addition to Shopee, Sea’s other core businesses include
its digital entertainment arm, Garena, and digital financial services arm,
SeaMoney. Sea’s mission is to better the lives of consumers and small
businesses with technology.