Amorepacific Group Boosts Global Business Expansion
– Expanding brand portfolio in existing markets including the US, Japan and HERA in Singapore
– Entering new markets including the Middle East and Oceania
– A leap to becoming a ‘Great Brand Company’ by spreading Asian Beauty to the world
SEOUL, South Korea, April 16, 2018 /PRNewswire/ — Global beauty giant Amorepacific Group (Chairman and CEO Suh Kyung-bae) announced on the 16th that it plans to boost global business expansion.
Amorepacific Group, which previously focused its global brand strategy in three areas – Asia, North America and Europe – has commenced entry into high-growth potential regions such as the Middle East and Oceania, while launching additional brands in existing markets to spur its global business expansion.
HERA, a luxury beauty brand that represents Korea launched in China in 2016, and will launch in Singapore this coming May. This will mark HERA’s second global launch. With a high demand in global brands and great interest in trends, Singapore strategically is a very important market for Amorepacific. Even before its launch, consumers showed much interest in the trend leading brand HERA that has a concept of being a ‘Seoulista’. On May 10, HERA will be opening its first store in Takashimaya Department Store located in Singapore’s main shopping street. HERA will also be opening a boutique store within the second half of 2018.
AMOS Professional – Korea’s number one hair professional brand – will also make its first step into the global market by launching in Singapore.
Mamonde entered the US’ largest beauty retailer, Ulta, in the past March, along with innisfree also making a successful debut in Japan.
The Group is also actively paving its way to untouched markets.
In order to enter new markets, Amorepacific has been assessing regional feasibility and conducting thorough customer research. As a result, the company established its Middle East office in Dubai, UAE and its Australia office in Melbourne, to target local markets in full swing.
The entry into the Middle East starts with the launch of ETUDE HOUSE, the leading global brand for young makeup. Last year, Amorepacific formed a partnership agreement with Alshaya Group, the largest retailer in the Middle East. Henceforth on March 17, the first ETUDE HOUSE store in the Middle East opened in the Dubai’s biggest shopping mall – The Dubai Mall. Customers had shown great interest in the lovely, trendy and playful brand and its innovative products even before the official launch.
In addition to opening the first store in Dubai, UAE, ETUDE HOUSE plans to open its second Middle Eastern store on March 22 in The Avenues Mall – the largest shopping mall in Kuwait. The brand will expand its business to neighboring GCC (Gulf Cooperation Council) countries by preparing to expand into Saudi Arabia which is also known as the biggest beauty market in the Middle East within the first half of this year.
Beginning this year, Amorepacific aims to push forward with its operations in Australia as well. As of March 14, LANEIGE, the group’s global premium brand, was the first to be introduced into the Australian market by entering Sephora stores nationwide, with locations including Sydney, Melbourne and Brisbane. With a fresh footing resulting from the success in Sephora stores in the US, LANEIGE expects to satisfy Australian customers with its high-quality products.
According to local market analysis by Amorepacific, Australian customers are highly attentive to global beauty trends and invest many hours and efforts in skin care due to high UV rays. In addition, it was found that recognition and preference toward Korean beauty trends (aka K-beauty) – led by Amorepacific – were extremely high, along with the popularity of natural makeup on a healthy skin base.
Leveraging these positive factors, Amorepacific has been seeking an optimal business frame to greet and engage Australian customers. Following the launch of LANEIGE, the company plans to launch AMOREPACIFIC, its luxury flagship brand of the same name, and innisfree, the global natural and eco-friendly beauty brand later this year.
In the last five years, Amorepacific’s global business has recorded approximately 30% annual growth rate. The company plans to accelerate diversification of its global operations to achieve its vision to become a ‘Great Brand Company’ by making A MORE Beautiful World through Asian Beauty.
Amorepacific Group Chairman and CEO Suh Kyung-bae stated, “Since achieving Korea’s first-ever cosmetic exports in 1964, Amorepacific has used ‘beauty’ as a global language form to continuously communicate with its customers all around the world.” He added, “We will accomplish our goal as becoming a ‘Great Brand Company’ to make A MORE Beautiful World by spreading unique, innovative beauty culture.”
About Amorepacific Group
Since 1945, Amorepacific has had a single, clear mission: to present its unique perception of beauty– namely what it calls ‘Asian Beauty’ – to the world. As Korea’s leading beauty company, Amorepacific draws from its deep understanding of both nature and human to pursue harmony between inner and outer beauty. With its portfolio of over 20 cosmetics, personal care, and health care brands, Amorepacific is devoted to meeting the various lifestyles and needs of global consumers around the world: Asia, North America, Oceania and Europe. Amorepacific’s research hubs located around the world are dedicated to sustainable R&D that combine the best of natural Asian ingredients and advanced bio-technology. With its world-class products, Amorepacific is acclaimed for the innovative ways in which it is transforming global beauty trends.
Please visit www.apgroup.com for more information.
| The corporate philosophy to create A MORE Beautiful World by creating harmony between inner and outer beauty based on a deep understanding of nature and human, combined with Amorepacific Group’s original innovative technology.|