Amorepacific Group gives a boost to global expansion

Vincent Gallon

21 April 2018

Korean beauty giant Amorepacific Group wants to increase global sales by entering into new regions. The company, which previously focused its global strategy on the Asian, North American and European markets, is now entering into high-growth potential regions such as the Middle East and Oceania, while launching additional brands in existing markets.

Amorepacific's new headquarters in Yongsan, Seoul, South Korea — Amorepacific’s new headquarters in Yongsan, Seoul, South Korea

Amorepacific is giving a boost to its international development. The group has just announced the launch of Hera - it’s luxury beauty brand - in Singapore this coming May. A new challenge for the Korean brand, which was launched successfully in China in 2016. “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. 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,” announced the group in a release.

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 retailer Ulta in the past March, and innisfree recently made its debut in Japan.

The group is also actively paving its way to previously untouched markets. Amorepacific established new corporate offices in Dubai, UAE, and in Melbourne, Australia.

The entry into the Middle East started with the launch of Etude House, the company’s makeup brand dedicated to millennials, last month, in partnership with the with Alshaya Group, the largest retailer in the region. The first Etude House store in the Middle East opened on March 17 in the Dubai Mall, the country’s biggest shopping mall. A second store opened on March 22 in The Avenues Mall, Kuwait’s largest shopping mall. The brand will expand its business to neighbouring countries with another store scheduled to open in Saudi Arabia within the first half of this year.

Eventually, the group recently announced its entry in Australia with the launch of Laneige, its global premium brand, at Sephora on March 14. The company plans to launch Amorepacific, its luxury flagship brand of the same name, and Innisfree, its global natural and eco-friendly beauty brand later this year.

Amorepacific is well known for having launched and sold millions of cushion compacts globally. The company intends to take advantage of global interest in the K-beauty to become one of the world’s beauty giants. To achieve this goal the group needs to consolidate its market shares in Asia, in particular by addressing competition from Japanese brands, while diversifying its global reach.