The two global cosmetics players – both leaders in Asia and Europe, expect this new found partnership to bring a plethora of innovative beauty experiences to a broader customer base and to further strengthen their growth in the international cosmetics market.
A memorandum of understanding (MOU) is a formal agreement that companies and organizations can use to establish official partnerships.
While they are not legally binding, they carry a degree of seriousness and mutual respect.
As part of the deal, Christian Dior should be able to use AmorePacific’s technology for its own products.
"This agreement holds great significance in that our 'Cushion' technology is appreciated by one of the world's most respected luxury brand companies and a powerhouse in the global beauty industry," says Sang-Bae Shim, Amorepacific president.
The 'Cushion' effect
Amorepacific's 'Cushion' is a make-up compact featuring a specially-designed foundation with a urethane foam that preserves the liquid formula and provides sun protection.
It has been a popular product in Korea for convenience and according to global research firm TNS Korea, 75% of Korean women have used or are currently using cushion products.
The compact is also said to have changed the make-up habits of Korean women by reducing the steps and time needed in creating the skin-looks they prefer, with many saying the Cushion is their sole base make-up product.
One to watch
As of January 2015, Amorepacific has offered a total of 19 cushion products from its 13 brands in more than ten countries in the Asian and North American regions, leading the ‘globalization’ of the Korean-born Cushion.
“Cushion, created from AmorePacific’s innovative technology, is a revolutionary product that is changing the make-up routines of women across the world and is going to be at the centre of global beauty trend in 2015,” says Suh Kyung-Bae, Chairman & CEO AmorePacific Group.
“AmorePacific will continue to pioneer and lead the global Cushion market with the company’s unparalleled technology and superior products,” he adds.