SOUTH KOREA. Swedish beauty technology company Foreo has unveiled a new counter in Hyundai Duty Free’s downtown duty free store in Dongdaemun, Seoul.
It was opened as part of Foreo’s counter expansion strategy, which will see the company open new counters in key duty free doors.
Foreo said that it is investing in expanding its travel retail footprint in preparation for a COVID-19 recovery in the latter part of the year.
It said, “The Global Travel Retail unit is investing in counter expansion in preparation for retaliatory consumption after the Coronavirus outbreak put a halt on economic growth worldwide.”
Foreo’s Q1 performance in South Korea has been affected by the worsening health crisis, but the company is optimistic and expects that consumer demand in travel retail Asia Pacific will bounce back sharply in late Q2 and Q3. This was based on the downturn in new confirmed cases in South Korea, China, and other outbreak hot zones in Asia, as updated daily by The Moodie Davitt Report.
