AmorePacific has reportedly sold its Sartre perfume plant to Christian Dior this week, according to a report by Business Korea.
The company completed the sale following the end of a licensing agreement with perfume brand Lolita Lempicka in 2017. Financial details of the sale to Christian Dior were not disclosed.
Perfumes currently produced at the site, such as the Goutal Paris brand, will now be produced under an OEM contract or at the company’s Korean or Chinese factories.
AmorePacific will now have only one overseas production base following the sale of the French site, which is based in China. However, the company is in the process of building a site in Johor, Malaysia in a bid to boost its presence in the ASEAN markets. It is expected to be completed in 2020.