Fellow Shareholders and Investors
In 2018, Amorepacific Group and its affiliates focused on pursuing the core strategies of developing innovative products, strengthening customer experience and diversifying global business amid the continuously changing business environment and market uncertainty, including global economic recession and declining consumer sentiment. The performance of beauty brands was weaker compared to the previous year following a continued overall stagnation of domestic road shop channel, while the overseas sales of our main affiliate, Amorepacific, continued solid growth.
This year, Amorepacific Group aims to pursue customer-centered innovation activities with stronger momentum, while laying the foundation for continued growth in the global beauty market by identifying new beauty categories and actively responding to growing distribution channels. We are committed to strengthening our foundation for sustainable and qualitative growth by solidifying our position towards success in markets we’ve entered to enable robust growth, while securing growth engine through swiftly expanding into new markets.
To this end, we plan to focus on pursuing the following.
First, we will focus our entire capability on developing unrivaled products that will inspire our customers by nurturing attractive innovative products that will win the hearts of our customers based on our brands’ exclusive and unrivaled uniqueness.
Second, we will strive to create and encourage our fandom by delivering a wide range of experiences to our customers based on various interactions inside and outside our stores, moving beyond delivering unilateral messages to our customers.
Third, we will communicate with our customers from all angles through multi-brand, multi-category and multi-channels using the basis of digital technologies, including AI, big data, and cloud.
For more than 70 years, Amorepacific Group has been committed to its core spirit of changing the world through beauty even in the face of challenges, and always wrote a history of being the best and the first.
We will take what many consider a crisis as an opportunity. We are dedicated in becoming a Great Brand Company that changes the world through new Asian Beauty and taking a step further as a respected global beauty company.
Amorepacific Group members are all committed to making utmost efforts to increase company and shareholder value by developing innovative products, enhancing customer experience and pursuing digital transformation while enjoying Exciting Changes in 2019.
CEO and Chairman