South Korea’s beauty giant has inked a business deal with MAP (PT Mitra Adiperkasa Tbk) a leading lifestyle retailer in Indonesia, with more than 2,200 retail outlets in 76 cities throughout the country.
The partnership signing ceremony was held at MAP headquarters in Jakarta, in the presence of Amorepacific Group’s President Dong-hyun Bae (Right) and MAP Group CEO V.P. Sharma (Left)
With this partnership, the Amorepacific Group intends to strengthen its retail network and expand the presence of its beauty brands beyond Jakarta and across Bali, Surabaya and Bandung regions. The group entered the Indonesian market in 2013 and currently offers its as Sulwhasoo, Laneige, Innisfree brands to local consumers. Through the partnership with MAP, Amorepacific will further add Etude to its operations.
Indonesia is the world’s fourth largest country in terms of population size, with approximately 270 million inhabitants. The country is a high potential market for the Amorepacific Group within the Asia-Pacific region and is one of the company’s global strategic pillars. According to Euromonitor, the Indonesian personal care and beauty market has reached approximately USD 5,240 million as of 2018 and is expected to grow to a USD 9,265 million sized market by 2023
“We are looking forward to working with MAP, the largest retailer Indonesia to unlock the enormous potential the country has to offer. With their expertise in retail, MAP and Amorepacific’s global brands are expected to create a great synergy and thereby provide the best quality service to the customers in Indonesia,” said Dong-hyun Bae, President of Amorepacific Group.
