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Amorepacific, 11st forge strategic partnership

11Street CEO Lee Sang-ho (left) and Amorepacific Group CEO Ahn Se-hong pose in the joint business partnership ceremony held at Amorepacific headquarters in Seoul on Tuesday. (Amorepacific)
11Street CEO Lee Sang-ho (left) and Amorepacific Group CEO Ahn Se-hong pose in the joint business partnership ceremony held at Amorepacific headquarters in Seoul on Tuesday. (Amorepacific)

Cosmetics giant Amorepacific Group said Wednesday it has signed a strategic partnership with 11Street, an e-commerce platform, to reinforce its digital sales.

Amorepacific CEO Ahn Se-hong and 11Street CEO Lee Sang-ho signed the joint business partnership deal at the cosmetic firm’s headquarters in Seoul.

Under the agreement, Amorepacific will broadcast monthly live commerce shows on 11Street to promote its makeup products.

The previous live broadcasts in April and May promoted Amorepacific’s IOPE and Hera products, which led to the turnover going up 20-fold and fivefold, respectively, according to 11Street.

In July, they will hold a live show to present Hera’s bestselling items.

Amorepacific said it will strengthen marketing for its major brands -- such as Hera, Laneige and Mamonde -- using 11Street’s customer data. As for 11Street, it will expand its delivery service to prepare and send Amorepacific products on the day the order is made.

“I believe our partnership with 11Street is a good opportunity that would lead to various achievements such as creating a fandom by jointly promoting our brands and product values and to enhance customer benefits through big data,” Ahn said.

“We will present various products and benefits by using our core capabilities, and maximize synergies,” Lee said. 
By Jo He-rim (herim@heraldcorp.com)  
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