Yesterday, according to report, Lotte Duty Free has signed a strategic memorandum of understanding (MOU) with Kolmar Korea, a leading cosmetics original design manufacturer, to accelerate the global reach of K-beauty. Under the agreement, the two companies will collaborate to provide consulting for Kolmar Korea’s brand partners seeking to enter Lotte Duty Free stores, while also supporting their global distribution and sales expansion.
The partnership will extend beyond distribution, encompassing joint marketing activities such as online and offline sales promotions aimed at boosting consumer awareness and driving sales. A key initiative will be the creation of a dedicated K-beauty section at Lotte Duty Free’s flagship Myeongdong store, featuring curated selections of indie brands across cosmetics categories. The companies also plan to foster collaborative growth through brand incubation, co-develop product collaborations leveraging Kolmar Korea’s manufacturing expertise, and host experiential events to engage global customers.
Commenting on the initiative, Lim Hyung-il, head of the merchandise division at Lotte Duty Free, said, “We plan to continuously cooperate and support in order to enhance the competitiveness of K-brands.”
