Walgreens Boots Alliance is set to expand its global reach after signing an agreement to form a franchise partnership with Emart (a member of Shinsegae Group), South Korea’s leading hypermarket retailer. Together, they will create a Boots branded retail franchise in the country.
Under the terms of the agreement, Boots stores will be opened in shopping malls, on high streets and within the outbound areas of Shinsegae department stores and Emart hypermarkets. The Boots stores will each feature an independent pharmacy and a range of Boots owned products and ‘exclusive to Boots’ brands as well as leading Korean brands.
The first stores are expected to open before the end of the first half 2017 and will include Boots popular No7 and Soap & Glory products.
“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,” said Ornella Barra Co-Chief Operating Officer of Walgreens Boots Alliance. “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.”
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