The partnership with Emart Company (a member of Shinsegae Group) will see a Boots-branded retail franchise enter into operation in Korea, allowing the western pharmacy and beauty giant a foothold in the ever-strengthening market.
“South Korea is considered a leading market for skincare and cosmetics products in Asia today. We believe there is a significant opportunity to extend the reach of Boots own brands into this market and are thrilled to be doing so with Emart,” Ornella Barra, co-COO of Walgreens Boots Alliance, said of the deal.
Walgreens Boots Alliance describes itself as the largest retail pharmacy, health and daily living destination in the USA and Europe and that, together with its equity method investments, it employs more than 370,000 people and has a presence in more than 25 countries.
Plans afoot
The companies note that the first stores for the franchise are set to open before the end of the first half of next year, and will include No. 7 and Soap & Glory, two of Boots’ leading brands, among their product offering.
“We are delighted to have the opportunity to introduce the Boots brand, and offer pharmacy care as well as acting as a beauty and healthcare destination by also offering a wide range of both Korean and Boots product brands.” said Gab-Soo, Lee, CEO of Emart Inc.
Barra, of Boots, particularly noted the potential for long-term development of the franchise partnership, saying; “Emart is the preeminent retailer in South Korea and their strong experience as well as their marketing expertise gives us great confidence in the long-term potential of this partnership.”
Boots’ portfolio of brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as increasingly global health and beauty product brands, such as No7, Botanics, Liz Earle and Soap & Glory.