SEOUL, South Korea, May 13, 2020 /PRNewswire/ -- Global beauty company Amorepacific Corporation (hereafter Amorepacific) announced a partnership with Australian luxury skincare company RATIONALE Group (hereafter RATIONALE or The Company) on 14 May 2020.
In an effort to strengthen its luxury portfolio, as well as to secure leadership in the personalized cosmetics category – one of Amorepacific's future R&D priorities – Amorepacific has acquired a significant minority share of RATIONALE Group, securing an advisory role and voting rights on the RATIONALE Board of Directors.
RATIONALE is an iconic skincare brand under its parent company, RATIONALE Group. With superlative products and services for personalized skincare regimens determined through skin testing and analysis. The Company has recorded double-digit growth in its average annual sales over the past five years in Australia. RATIONALE is renowned for its Essential Six Collections – an array of sophisticated formulations that deliver environmental protection by day and repair at night. Every Essential Six regimen is personalized in line with a treatment plan curated from a comprehensive suite of luxury facial services. RATIONALE is currently available in 15 Flagship locations, exclusively online at rationale.com, and via a network of approximately 50 Medical Agencies including renowned dermatologists and plastic surgeons.
Together with Amorepacific, RATIONALE aims to realize its global expansion plans across South Korea, the UK, the US, Hong Kong and Singapore by 2025. Amorepacific will fully support and assist RATIONALE in scaling towards global expansion by sharing its international business acumen and strategic knowledge gained from years of experience, and working synergistically on important decisions related to international operations through Board representation and ongoing advice. The two companies will also explore the possibilities of joint research and development in the future.
Amorepacific expects that this partnership with RATIONALE will help secure a local production base in Australia and strengthen its retail network, which will in turn provide a solid foundation for its operations in Oceania. "With a truly shared innovation vision, RATIONALE and Amorepacific will take personalized skincare solutions to a new level. Amorepacific will continue to look into M&A and partnerships with promising companies and secure opportunities for future growth," said Saehong Ahn, Amorepacific President.
"There is an intuitive alignment between RATIONALE and Amorepacific, particularly with regard to their world-class innovation and simultaneous commitment to R&D. RATIONALE is acknowledged worldwide as the environmental skincare authority and leader in epigenetic research, and we are thrilled to be empowered to expand this vital work with Amorepacific," said Richard Parker, RATIONALE Founder and Director of Research.
In 2018, Amorepacific commenced business operations in the Oceania region, and has launched its Laneige, Innisfree and flagship AMOREPACIFIC brands to date. In March 2020, Amorepacific continued its regional expansion, launching Sulwhasoo in Sephora across Australia and New Zealand.
Since 1945, Amorepacific has had a single, clear mission: to present its unique perception of beauty– namely what it calls 'Asian Beauty' – to the world. As Korea's leading Beauty Company, Amorepacific draws from its deep understanding of both nature and human to pursue harmony between inner and outer beauty. With its portfolio of over 20 cosmetics, personal care, and health care brands, Amorepacific is devoted to meeting the various lifestyles and needs of global consumers around the world: Asia, North America, Europe, Oceania and the Middle East. Amorepacific's research hubs located around the world are dedicated to sustainable R&D that combine the best of natural Asian ingredients and advanced bio-technology. With its world-class products, Amorepacific is acclaimed for the innovative ways in which it is transforming global beauty trends.
RATIONALE was founded in 1992 by Cosmetic Chemist Richard Parker. Since its inception, RATIONALE has developed an industry-leading research and innovation discipline, giving rise to elegant and transformative luxury skincare and treatments that deliver Luminous Skin for Life.