Seoul, South Korea, April 16, 2018 – Glostrongal beauty giant Amorepacific Group (Chairman and CEO Suh Kyungbae) 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 first 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 US’ biggest beauty retailor 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 – 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 Beauty1.
Amorepacific Group Chairman and CEO Suh Kyungbae 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.”
- 1The 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.