[THE INVESTOR] Emart will usher in Walgreens Boots Alliance, the largest drugstore company in the world. It has signed a franchise partnership for the exclusive management of Boots stores in Korea, the nation’s largest discount chain announced on July 18.

The first store in Korea will open in the first half of 2017 and will showcase its own lineup including No7 as well as international brands such as Soap & Glory, which will give Boots an edge in competing in the 900 billion won (US$792.04 million) health and beauty industry. 



Promoting itself as the first global pharmacy-led, health and wellbeing enterprise that merged US drugstore chain Walgreens and British pharmacy Alliance Boots, the US-listed franchise will challenge CJ’s Olive Young, which dominates the market with 85 percent market share, followed by GS’s Watsons and Lotte’s Lohb’s.

“South Korea is considered a leading market for skincare and cosmetics products in Asia today. We believe there is a significant opportunity to extend the reach of Boots own brands into this market and are thrilled to be doing so with Emart,” said Ornella Barra, co-COO of Walgreens Boots Alliance.

Emart will phase out its own drugstore business Boons, either by closing the stores or switching them to Boots stores.

By Hwang You-mee (glamazon@heraldcorp.com)