Signing a Business Agreement with 'Coty'
Shilla Duty Free announced on the 1st that it has signed a business agreement with Coty Inc., the world's largest global beauty company (hereinafter referred to as Coty), to strengthen digital innovation.
Shilla Duty Free signed a business agreement for digital innovation with global beauty company Coty on the 31st of last month at the Seoul Shilla Hotel located in Jangchung-dong, Jung-gu, Seoul. The photo shows, from left to right, Tracy Chen, Vice President of Coty; Guillem Such, Senior Vice President of Coty; Kim Tae-ho, Head of TR Division (Vice President) at Hotel Shilla; and Kim Bo-yeon, E-commerce Team Leader (Executive Director) at Hotel Shilla. Photo by Shilla Duty Free.
Through the strategic partnership agreement for digital innovation with Coty held at the Seoul Shilla Hotel in Jangchung-dong, Jung-gu, Seoul, the day before, Shilla Duty Free plans to jointly explore various measures to acquire new customers and improve customers' online shopping experience in four areas: expanding exclusive sales products, data analysis, and expanding strategic collaboration target regions.
Since 2022, Shilla Duty Free and Coty have collaborated on several projects related to digital marketing and innovation. Through this collaboration, Shilla Duty Free achieved results such as providing an immersive experience where customers can virtually try and explore products using their avatars in the beauty class, the duty-free industry's first metaverse event. Based on these achievements, both companies have agreed to actively pursue new attempts such as metaverse beauty classes through AR and VR in the future.
Additionally, the two companies will jointly share and analyze data to more closely examine customer behavior and purchasing patterns online. In particular, based on the results obtained through the collection and analysis of information related to purchasing trends and preferences by customer groups in key markets via the affiliated payment platforms held by both companies, they plan to establish customized strategies for each customer together. This strategic collaboration will be expanded not only in the Korean market but also in the Hong Kong and Singapore markets where Shilla Duty Free operates airport duty-free stores.
Guillem Such, Vice President overseeing Coty’s global duty-free market, said, "We are very pleased to establish a strategic partnership between the two companies that share a digital-centric strategy and ambition," adding, "Through strengthened cooperation, we aim to lead innovation to provide customers with rich experiences and make duty-free shopping more attractive."
Kim Boyeon, Head of E-commerce Team (Executive Director) at Shilla Duty Free, said, "We have high expectations that through collaboration with Coty, which has the most advanced customer-centric digital innovation strategy in the beauty industry, we can elevate Shilla Duty Free’s digital innovation to a higher level," adding, "We will do our best to lead new innovations in the duty-free industry by providing customer experiences based on the latest digital technologies together."
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