UPDATE : 2018.9.25 TUE 18:42
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AmorePacific wants to be remembered as an ‘Asian Beauty Creator’Achieving an outstanding success in Chinese cosmetics market

AmorePacific aspires to be remembered as the ‘Asian Beauty Creator’ among people around the world.

"We are committed to helping 3 billion Asians realize their dreams. Going further, we are endeavoring to make the true Asian beauty known to our global customers.” So says AmorePacific Group Chairman and CEO Suh Kyung-bae.

▲Head Office building of AmorePacific named ‘Signature Tower’

Since its establishment in 1945, Chairman Suh said AmorePacific has worked hard to realize its corporate vocation as the ‘Asian Beauty Creator’ to make the true beauty of Asia known to the rest of the world. “We intend to unlock the secrets of beauty hidden in the time-honored knowledge of Asia and provide them to customers around the world to help achieve humanity’s aspirations for both beauty and health.”

AmorePacific opened Korea’s first cosmetics research lab and exported cosmetics for the first time in Korea. The group has led the nation’s cosmetics industry by taking a special interest in Asian natural ingredients and developing technologies and products optimized for skin.

The beauty group has established production and research bases in China and France. AmorePacific’s global brands (Sulwhasoo, LANEIGE, Mamonde, ETUDE HOUSE, and innisfree) can now be found not only in the Chinese-speaking world, Southeast Asia, and Japan but also in North America and Europe.

▲An overall view of the Beauty Business Center of AmorePacific

“Now, AmorePacific is ready to transform itself into a ‘Great Global Brand Company’ that aims to create beauty which can change the world,” said Chairman Suh.

AmorePacific, which began to export cosmetics under the brand of “Oscar” in 1964, is striving to expand its overseas sales.

Currently, it is committing its available resources to increasing sales in China, the United States and France.

Sales in China surge 29% in 2013. In 2013, global sales revenues of AmorePacific totaled 539.9 billion won (based on K-IFRS), a surge of 27.8% over 2012. Of particular note, sales in China and other parts of Asia jumped 29.1% and 64%, respectively, all surpassing targets.

During the second quarter of 2014, AmorePacific continued to expand its overseas business, with revenues rising to 190.4 billion won which represented a surge of 28% over a year earlier. Sales in growth markets such as China and other Asian countries, grew 48.8% to 163.4 billion won, driven by expanded sales of hit products. In China, AmorePacific achieved significant sales growth by strengthening its branding marketing and diversifying its channels. Aided by increased sales of existing stores and opening of new outlets, Sulwhasoo enjoyed brisk sales, while LANEIGE showed stable growth in department store and e-commerce sales.

Of note, innisfree’s growth was attributed to the stepped-up digital communication with customers and opening of new outlets. Despite sluggish domestic demand in matured markets like France and the United States, Sephora recorded stable growth, thanks to increased sales of popular products. In France, new product Lolita Lempicka (ELLE L’AIME) reported brisk sales.

AmorePacific’s advance into the Chinese market dates back to the early 1990s. Before China accelerated its opening to the outside world, the company established AmorePacific Cosmetics (Shenyang) Co., Ltd. in 1993. It has supplied the Mamonde and Amore brands to department stores in Shenyang, Changchun and Harbin, three major cities in Northeast China. AmorePacific has since maintained significant market shares in Northeast Asia, accompanied by stable profitability.

After fixing LANEIGE as its “Asian brand,” AmorePacific ventured into the Hong Kong in 2002. Since opening its first store at a top-class Hong Kong department in the year, AmorePacific has set up 24 sales outlets there. Average per-store sales in Hong Kong surpass 100 million won.

Back in China, the company established AmorePacific Cosmetics (Shanghai) Co., Ltd. in 2002 to accelerate its operation in the country.

AmorePacific's LANEIGE now operates sales outlets in 336 department stores in China's 120 cities including Shanghai. The company’s cosmetics brands, which enjoy high market shares, are on a par with international brands, driven by its active branding strategy and the increased popularity of products like LANEIGE’S Water Sleeping Packs and Water Bank line.

▲AmorePacific hosted a ‘Pink Ribbon Love Marathon Race 2014.

Global Champion Brands

The Representative Global Brands beloved from worldwide customers Follow:

Sulwhasoo
Holistic Beauty from Asian Wisdom
Inspired by Asian philosophy, which values harmony between nature and humans and balance between body and mind,
Sulwhasoo revives legendary Asian medicinal herbs with the advanced modern science. Sulwhasoo offers the ultimate skin solution that treats the skin from deep inside and delivers holistic beauty where the body and mind are in optimum balance.

LANEIGE
A trendy brand offering a total solution for brilliant beauty
Based on the fundamental principle that water, the source of life, is the key to maintaining youthful and radiant skin, LENEIGE is continually setting new beauty trends and delivering high-quality products through innovation.
The premium beauty brand for young women is dedicated to beautifying and instilling confidence in its devoted customers.

Mamonde
Mamonde was made on the basis of wisdom and notion that the flowers spontaneously create their own beauty. Mamond produced from this philosophy and know-how of AmorePacific? own will help women develop their own beauty with Mamond and be the heroine of Mamond.

ETUDE HOUSE
Girlish and playful make-up brand to realize your princess dream ETUDE HOUSE is born as the first color make-up brand in Korea. We realize your princess dream for a magical experience. Spreading its charming ‘fun and easy Make-up Play Culture,’ ETUDE HOUSE has been loved all over Asia as K-Beauty Make-up No.1 Brand.

innisfree
Natural Benefit from Jeju
The brand name ?nnisfree' means ?n island that relaxes the skin,?with an effort to provide healthy beauty for customers with the benefits of nature offered by a pure island and to actualize an eco-friendly green life that treats nature with respect.

Sustainability
AmorePacific seeks to create a beautiful world where nature, people, and business co-exist in harmony through sustainable management. The cosmetics group has established a sustainable management system to lay out a sound foundation for continued growth as a global company. To this end, AmorePacific has engaged in a variety of social contribution activities in the fields of women’s issues, the environment and culture. Under the slogan of “Makeup Your Life,” the group is pushing through “sharing management,” while working hard to fulfill its responsibility as a responsible corporate citizen.

The cosmetics group donates significant amounts of money to charity causes every year through its AmorePacific Welfare Foundation.

At the same time, AmorePacific and its employees carry out various types of programs to help people in need.

Of note, AmorePacific joined the UN Global Compact in November 2007. In a bid to fulfill its responsibilities as a corporate citizen, AmorePacific is striving to uphold and faithfully practice the 10 UNGC Principles in the areas of human rights, labor, environment, and anti-corruption.

이경식 기자  edt@koreapost.com

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