Amorepacific eyes expansion in markets slated “hotbeds for global beauty”
25 May 2023 --- Amorepacific is expanding into North America, the UK and the Middle East. The Korean beauty giant recently launched its flagship global skin care brand Laneige in the three markets.
“The North American and European markets are a hotbed for global beauty brands. The growth of Amorepacific’s brands in these markets shows that local customers recognize our efforts in investing in natural ingredients and R&D for more than 70 years,” says Jinpyo Lee, chief strategy officer at Amorepacific Group.
“Amorepacific will continue to actively expand customer contact points in various global markets and grow into a global beauty company that helps individuals discover their unique beauty.”
In 2022, the company credited 36% of the overall sales to the US, making the country a primary market outside Asia.
Amorepacific details sales in North America have grown 80% in Q1 of 2023, primarily because of strong growth in e-commerce channels such as Amazon and branded stores, as well as offline channels including Sephora.
Laneige’s Lip Sleeping Mask and Water Bank Blue Hyaluronic Collection, Sulwhasoo’s First Care Activating Serum and Concentrated Ginseng Renewing Cream, Innisfree’s Daily UV Defense Sunscreen and Green Tea Hyaluronic Acid Collection have become best-selling products among Millennials and Gen Z consumers who are highly engaged in skin care, shares Amorepacific.
In addition, the company continues to invest in North America, expanding its brand portfolio by acquiring the luxury clean beauty brand Tata Harper last year and partnering with the Metropolitan Museum of Art through its Sulwhasoo brand in March to expand communication with local customers.
UK and Middle East
Lee describes that the sales in Europe have grown more than 90% year-on-year in Q1 of 2023.
“Before our official launch, Laneige was featured on Cult Beauty, Look Fantastic and Beauty Bay, e-commerce platforms specializing in beauty in the UK, and we were able to see the strong interest from local customers.”
“As the demand for Korean beauty products in the European market has increased in recent years, our European sales grew by more than 90% year-on-year in Q1 2023. We look forward to providing our customers in the UK with the same high level of satisfaction with our brands.”
Laneige started selling in Space NK – a luxury beauty multi-store in the UK – at the end of April. Amorepacific plans to expand customer points in the UK market, focusing on Laneige’s global flagship products, Lip Sleeping Mask and Waterbank Cream.
For May, Amorepacific is operating an exclusive Laneige brand space at a Space NK store in central London, England, while expanding brand awareness locally through content related to brand ambassador actress Sydney Sweeney.
Moreover, Laneige also made its debut in the Middle East this month. Through a partnership with Sephora, Laneige’s flagship products are now available in Sephora stores across the UAE and four Gulf Cooperation Council countries – Saudi Arabia, Kuwait, Qatar and Bahrain.
The Sephora store at Dubai Mall in the UAE will unveil the launch products through large electronic boards to drive brand awareness.
Recent Amorepacific developments
In March, Amorepacific’s Sulwhasoo appointed actress Tilda Swinton as the new global ambassador. The brand launched a campaign called “#SulwhasooRebloom” to re-establish its identity as a brand that brings “beauty based on heritage and the artist’s spirit.”
To deliver this brand mission to the world, Tilda Swinton was selected to represent Sulwhasoo due to her “unique features, distinctive aura and reputation for taking challenges in experimental roles that transcend all genres and domains.”
With Tilda Swinton getting on board following the K-Pop icon, Blackpink’s Rose’ as the ambassador, Sulwhasoo is expected to accelerate its global market expansion, scaling beyond Korea.
Edited by Radhika Sikaria
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