Known as the Asia Beauty Innovation Center, it will be established in the country’s capital, Seoul, and forms part of the company’s global investment in its research and development capabilities, as part of its Growth Through Innovation strategy.
Specific to the South Korea market, Amway says that it wants to target further growth of its skin care brand Artistry, a prestige product line that the company claims is now one of the world’s top five selling skin care products.
Innovation center will be part of the the company's Korean headquarters
The new facility will be constructed alongside the company’s corporate headquarters in Seoul, and will comprise cross-functional experts in consumer market research, together with technical and clinical research capabilities, together with concept and product design, and packaging expertise.
Amway says that it is building up the team at the site with the intention of converting regional insights in to new products concepts and beauty product portfolio strategies that will shape the future of new product development for the business.
Likewise, the facility will also be supporting the initiatives of the company’s global product development strategies being implemented at its other R&D facilities.
Strengthening the company's position in southeast Asia and China
"Our additional presence in Asia will spark powerful collaborations in science, design and formulation among our regional R&D and marketing experts,” said Maud Pansing, Amway vice president of Global Beauty Brand Management.
“Driving formulation development and speeding new products to market will further strengthen our brand leadership with Amway Business Owners, sales representatives and consumers across China and southeast Asia."
The facility will be managed by Paul Seera, PhD, who has been transferred from Amway's world headquarters to become the centre's new head of research and development.