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AmorePacific Enteres the Global Duty-Free Market under the Name, Laneige

Global 2010-06-28

AmorePacific President and CEO, Suh Kyung-bae started his business with the Laneige brand in the global duty-free shop. The company announced that it opened the Laneige shop in the perfumes & cosmetics section of Terminal 3 in Singapore’s Changi Airport last month. 
The duty-free business is at the heart of the cosmetics industry, so opening a shop for the brand in the duty-free mall means that it is recognized as a global brand. Based on the excellent quality of products and its popularity in Asian market, Laneige could finally enter the duty-free center in Singapore, which is one of the three largest duty-free centers in Asia, including duty-free centers in Hong Kong and Bangkok. 
Early this year, Singapore Changi Airport opened Terminal 3 equipped with state-of-the-art facilities. It is expected to play the role of a hub for air traffic in Asia. The duty-free center in this airport has a wide variety of global brand shops. The news of opening the Laneige shop in the duty-free center was posted on Moodie Report, world’s leading magazine for duty-free business. Laneige plans to enter other duty-free centers in Hong Kong and Bangkok to offer Asian beauty to Asia as well as the rest of the world. 
Lee Sangwoo, Vice President of International Management at AmorePacific, said, "In 2002, we started our business in China, we have been focusing on making Laneige become an Asian women beloved brand for the past seven years. I expect that, with the opening of the Laneige shop in the Singapore duty-free center, which accounts for a great part of the worldwide market for cosmetics, it will be recreated as a global brand representing Asia." 
▶ Note – Laneige was born as the skin care & makeup brand that aims for the Young Premium. Since entering China in 2002, sales have been expanded to 210 shops in eight Asian countries: Taiwan, Singapore, Malaysia, Indonesia, Vietnam, Thailand and Brunei as well as in Russia. Now they are seeing excellent results. With their successful results in the Asian markets last year, Laneige has opened their shops in many department stores and has expanded the shops in Korea. It also has shops at the duty-free centers in Shilla, Walker Hill, Dong-A and Incheon Airport. Starting with the Chinese market, where they exceeded their break-even point and recorded the first surplus in the five years since its launch, AmorePacific will continue to grow its businesses in overseas markets this year. In addition, after its three-year development, last year Laneige was introduced as a premium makeup line best fitted to Asian women. It will go on sale in all of the Asian markets this year. With a new makeup line, Laneige is expected to play an important role as a global brand.