South Korea. French-American cosmetics maker Coty and The Shilla Duty Free have updated their joint business plan with new pillars of cooperation aimed at attracting travellers and reinvigorating the omnichannel shopping experience.
The plan will be executed along four pillars: digital innovation, data analytics, retailer exclusivity and geographic expansion.
To bring these pillars to life through brand promotions, dynamic activations and new content formats, the partner will introduce Korea's first omni-channel Super Brand Week.
It is also accelerating digital innovation with advanced online-to-offline campaigns, including omnichannel masterclasses with an AI component.
The two companies will also develop immersive platforms, including augmented reality and virtual reality simulations, to blend online and offline shopping into a seamless experience.
The joint business plan has now expanded to include data analytics, with the partners combining data and insights to develop strategies to better address evolving consumer behaviors and preferences and increase customer engagement and loyalty.
As part of an effort to introduce new content formats, the two companies will host VIP Masterclasses at the Shilla Lounge in the retailer's Seoul flagship store, offering intimate make-up sessions showcasing Coty's cosmetics and fragrance portfolio, with the content delivered online to engage with audiences virtually.
Coty will continue to launch exclusive products, content and concepts on The Shilla Duty Free's digital platforms and explore local wallet partnerships. Korea is the primary market for the joint venture, with the hope of expanding to other key markets in the near future.
Bo Kim, vice president of e-commerce at The Shilla Duty Free, commented, “Following the tremendous success of the first year of our digital joint venture plan, The Shilla Duty Free is excited to take our partnership to the next level with Coty, which remains a powerhouse in the beauty industry with its pioneering innovation and focus on consumer satisfaction. We look forward to continuing to work together to enhance our digital capabilities and redefine the standard of digital engagement in the travel retail industry to unprecedented levels.”
“The travel retail beauty industry is constantly evolving and it is critical that Coty continues to deliver unparalleled digital experiences,” said Guillem Suchet, senior vice president, Global Travel Retail, Coty. “The Shilla Duty Free is an important partner for Coty and we are incredibly proud that together we continue to deliver new digital initiatives and set the benchmark for today's consumer, who has always been at the heart of our business.”
