French perfume brand boosts South Korean group’s global image
Amore Pacific’s overseas holding company AGO (Amore Pacific Global Operations Ltd) is to buy a 100% stake in luxury perfume brand Annick Goutal from Taittinger Group, owned by Starwood Capital.
The South Korean company says the acquisition will strengthen its perfume brand portfolio and raise the image of Amore Pacific’s existing brands through acquisition of the luxury brand. The company says the move should also strengthen its image as a global beauty company with global business capabilities and “expand the perfume business in Asia, especially in Japan and China, with Annick Goutal products that suit the Asian customers’ taste”.
Amore Pacific plans to increase production efficiency, utilising idle capacity at the perfume factory in France. The company is also aiming to build its global acquisition experience and reinforce its capabilities.
Founded by Annick Goutal in Paris in 1981, the perfume brand launched onto Asian markets in 2009. The fragrances are inspired by nature and use high-end natural ingredients.
