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The Value Creation Business Awards

Global 2006-10-27

The Korea Economic Daily, in collaboration with Mirae Management Research, announced The 2006 Value Creation Business Awards results this month. Amorepacific was honored by receiving the award in the field of cosmetics for two years in a row. This award is given to companies that have enhanced its corporate value, which is one of the core competencies that enhances shareholder value and corporate growth, bestowing trust to shareholders and customers, and contributes to national economic growth. Amorepacific has been representing Korea’s cosmetics industry, and was acknowledged as a leading cosmetics company that created and offered new values with its ceaseless challenging spirit, together with the company’s active participation in social activities. Additionally, the tradition of ‘Technology-first’ was also highly praised. Amorepacific opened the first R&D facility for cosmetics in 1954, and since 1957, has been sending the researchers to the overseas annually to gain further knowledge. To extend its corporate values as a major global player by year 2015, Amorepacific is aggressively expanding into the global market as well. Lolita Lempicka fragrance, developed by the French affiliate, is one of the top sellers in France, and is being introduced into more than 80 countries globally. With such success, the French affiliate recorded sales of 39 million Euros last year, and is expecting to continue its success this year with Lolita Lempicka L, the second fragrance for Lolita Lempicka. Expansion in Asia is continuing with the Laneige brand. Laneige, which was first introduced in 2002, is gaining much attention from the Asian customers with its products of high functionality and reasonable prices. As of June this year, Laneige can be found through more than 200 department stores in Asia, including 110 in China, 12 in Hong Kong, 6 in Singapore, 22 in Vietnam, 16 in Indonesia, 13 in Taiwan, 26 in Thailand, and 2 in Brunei.