Boosting the Growth of Business in APAC Region
Amorepacific Group, a Korea-based cosmetics company has recently announced a business partnership with the leading lifestyle retailer company in Indonesia, Mitra Adi Perkasa (MAP). Amorepacific Group aims to boost its business growth in Indonesia through this partnership with MAP, as Indonesia is a high potential market within the APAC region. The partnership signing ceremony was held at MAP Headquarters in Jakarta, Indonesia in the presence of MAP Group CEO V.P. Sharma and Amorepacific Group’s President Dong-hyun Bae. MAP plans to expand Amorepacific’s presence beyond Jakarta and across Bali, Surabaya, and Bandung regions through this partnership. Through the strong retail network of MAP, more local customers are expected to have better accessibility to Amorepacific’s global brands.
Bringing Innovative Products to Modern Indonesian Customers
“We are looking forward to working with MAP, the largest retailer in 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.
V.P. Sharma, CEO of MAP Group said, “The business partnership with global beauty leader Amorepacific Group has strengthened our global premium brand portfolio. We will give full support to Amorepacific Group bringing innovative products to modern Indonesian customers who are increasingly interested in beauty and well-being.”
Amorepacific Group Widening its Wings
Amorepacific Group has continued to grow in the Indonesian market since its debut in the Indonesia business in 2013. With a population of approximately 270 million, Indonesia is the world’s fourth-largest country in terms of population size. Indonesian personal care and beauty market is expected to grow a USD 9265 million sized markets by 2023. Amorepacific Group will reinforce its leadership in the Indonesian beauty market with this deal. Previously, the company has been involved in partnerships with local APAC retailers such as Lazada in ASEAN, Nykaa in India, and SM in the Philippines to promote its growth in the region.
