DEERFIELD, Ill., 18 July 2016 – Walgreens Boots Alliance, Inc. (Nasdaq: WBA), the first global pharmacy-led, health and wellbeing enterprise, today announced that it has signed an agreement to form a franchise partnership with Emart Company Ltd (a member of Shinsegae Group), South Korea’s number one hypermarket retailer. Together, they will create a Boots branded pharmacy-led, health and beauty retail franchise in South Korea.
Under the terms of the agreement, Boots branded stores will be opened in shopping malls, on high streets and within the outbound areas of Shinsegae department stores and Emart hypermarkets. The Boots stores will each feature an independent pharmacy and a range of Boots owned products and ‘exclusive to Boots’ brands as well as leading Korean brands.
“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-Chief Operating Officer of Walgreens Boots Alliance. “Emart is the preeminent retailer in South Korea and their strong experience as well as their marketing expertise gives us great confidence in the long-term potential of this partnership.”
“We are delighted to have the opportunity to introduce the Boots brand, and offer pharmacy care as well as acting as a beauty and healthcare destination by also offering a wide range of both Korean and Boots product brands.” said Gab-Soo, Lee, CEO of Emart Inc.
The first stores are expected to open before the end of the first half of calendar year 2017 and will include Boots highly regarded and exclusive No7 and Soap & Glory products.
ENDS
Notes to Editors:
About Walgreens Boots Alliance
Walgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy-led, health and wellbeing enterprise.
The company was created through the combination of Walgreens and Alliance Boots in December 2014, bringing together two leading companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted health care services through pharmaceutical wholesaling and community pharmacy care, dating back more than 100 years.
Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination in the USA and Europe and, together with its equity method investments*, employs more than 370,000* people and has a presence in more than 25* countries. Walgreens Boots Alliance is a global leader in pharmacy-led, health and wellbeing retail with over 13,100* stores in 11* countries. The company includes one of the largest global pharmaceutical wholesale and distribution networks with over 350* distribution centers delivering to more than 200,000** pharmacies, doctors, health centers and hospitals each year in 19* countries. In addition, Walgreens Boots Alliance is one of the world’s largest purchasers of prescription drugs and many other health and wellbeing products.
The company’s portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as increasingly global health and beauty product brands, such as No7, Botanics, Liz Earle and Soap & Glory.
* As at 31 August 2015 (without subsequent adjustment for business acquisitions or dispositions), including equity method investments
** For 12 months ended 31 August 2015 (without subsequent adjustment for business acquisitions or dispositions), including equity method investments
About EMART
EMART Co., Ltd. is a value creation company that pursues a satisfying lifestyle for its customers while simultaneously reaching to enhance development in local communities ever since its first store opening in Changdong.
EMART has reached over 100 stores with its acquisition of Walmart in 2006, and as of July 2016 operates a total of 157 (including ten Traders stores) domestic stores. It also manages eight stores in China and 1 store in Vietnam, expanding hypermarket business from national to international market, becoming a comprehensive global retail company.
The company's main progression focuses on Korea's first and largest hypermarket ‘EMART’, Korea's number one online mart 'EMART mall,' and its discount warehouse store ‘Traders’. In addition, it is recently expanding its domain into category killer specialty stores that will match new lifestyle trends.
With a deep base in retail hypermarket, EMART is diversifying its business into ‘Everyday retail’, convenience store ‘With Me,’ ‘Shinsegae TV Shopping’, ‘Shinsegae Food’, ‘Shinsegae L&B’, ‘Starbucks Korea’, ‘Shinsegae E&C’, ‘Shinsegae I&C’, ‘Shinsegae Chosun Hotel’, as well as operating foreign branches in China and Vietnam to enhance international business.
Contact(s)
Walgreens Boots Alliance Media Relations
USA / Michael Polzin, +1 847 315 2935
or
International / Laura Vergani, +44 (0) 207 980 8585
Walgreens Boots Alliance Investor Relations
Gerald Gradwell and Ashish Kohli, +1 847 315 2922