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[Source: CJ Olive Young]

(Seoul=Yonhap Infomax) Su In Jeong = CJ Olive Young Co., South Korea's leading health and beauty retailer, announced on the 20th that it signed a memorandum of understanding (MOU) with Life Healthcare Group (LHG), a major healthcare distributor in the United Arab Emirates (UAE), in Abu Dhabi on the 19th.


LHG operates Life Pharmacy, a prominent drugstore chain in the UAE, with more than 580 offline stores and an online platform across the country.


Under the MOU, the two companies will collaborate to introduce promising K-beauty brands to the UAE market through Life Pharmacy's extensive offline and online retail channels. They also plan to expand local retail presence by leveraging the distribution network of Nutripharm, a specialized vendor operated by LHG.


CJ Olive Young stated that it aims to provide practical support for the market entry and sales growth of promising K-beauty brands in the Middle East, a region where individual brands often face challenges entering independently. The company will utilize its product sourcing capabilities, local distribution partner network, and expertise in brand building and marketing execution.


According to a report by global research firm GlobalData, the UAE health and beauty market is projected to reach $2.864 billion (approximately 3.6 trillion won) this year.


sijung@yna.co.kr

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