SEOUL, South Korea--(BUSINESS WIRE)--May 18, 2023--
Amorepacific is diversifying its global business to further cement its reputation as the leader of K-beauty in the beauty market. Amorepacific recently announced the launch of LANEIGE, the group's flagship global skincare brand, in the United Kingdom and the Middle East, following North America.
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Amorepacific recently launched its premium skincare brand Laneige in the Middle East market as part of the efforts for global expansion. (Photo: Business Wire)
The region specifics are as follows:
The North America Market
Since last year, Amorepacific gained prominence in the North American beauty market with its LANEIGE, Sulwhasoo, and Innisfree brands. Sales in North America grew 80% in the first quarter of 2023, thanks to strong sales growth in e-commerce channels such as Amazon and branded stores, as well as offline channels including Sephora. LANEIGE’s Lip Sleeping Mask and Water Bank Blue Hyaluronic Collection, Sulwhasoo's First Care Activating Serum and Concentrated Ginseng Renewing Cream, Innisfree's Daily UV Defense Sunscreen and Green Tea Hyaluronic Acid Collection have become best-selling products among Millennials and Gen Z consumers who are highly engaged in skincare. In addition, Amorepacific continues to invest in North America, expanding its brand portfolio with the acquisition of luxury clean beauty brand Tata Harper last year, and partnering with the Metropolitan Museum of Art (MET) through its Sulwhasoo brand in March to expand communication with local customers.
"The North American and European markets are a hotbed for global beauty brands. The growth of Amorepacific's brands in these markets shows that local customers recognize our efforts in investing in natural ingredients and R&D for more than 70 years," said Jinpyo Lee, Chief Strategy Officer at Amorepacific Group. "Amorepacific will continue to actively expand customer contact points in various global markets and grow into a global beauty company that helps individuals discover their unique healthy beauty."
UK Market
LANEIGE, which has grown into a leading K-beauty brand with a global presence in 18 countries across Asia, North America, Australia, and Europe, officially entered SPACE NK, a luxury beauty multi store in the UK, at the end of April. SPACE NK is a retailer of luxury skincare, makeup, perfume, and haircare products, offering a selection of multinational beauty brands through 72 stores in the UK and Ireland. It is characterized by its personalized customer service with highly trained sales associates.
Amorepacific plans to expand customer points in the UK market, focusing on LANEIGE’s global flagship products, Lip Sleeping Mask and Waterbank Cream. For the month of May, Amorepacific will operate an exclusive LANEIGE brand space at a SPACE NK store (KINGS CROSS & WESTFIELD) in central London, England, while expanding brand awareness locally through content related to brand ambassador Sydney Sweeney.
"Prior to our official launch, LANEIGE was featured on Cult Beauty, LOOK FANTASTIC, and Beauty Bay, e-commerce platforms specializing in beauty in the U.K., and we were able to see the strong interest from local customers," said Lee. "As the demand for Korean beauty products in the European market has increased in recent years, our sales in Europe grew by more than 90% year-on-year in Q1 2023. We look forward to providing our customers in the U.K. with the same high level of satisfaction with our brands."
Middle East Market
This month, LANEIGE also made its first foray into the Middle East. Through a partnership with Sephora, the number one beauty retailer in the region, LANEIGE’s flagship products are now available in Sephora stores across the United Arab Emirates (UAE) and four Gulf Cooperation Council countries (Saudi Arabia, Kuwait, Qatar and Bahrain). In May, the Sephora store at Dubai Mall in the UAE will unveil the launch products through large electronic boards to drive brand awareness.
About Amorepacific in the U.S.
Amorepacific is the leader in K-Beauty with a global presence and is experiencing significant growth outside of Asia with the U.S. being one of its primary growth markets (for context in 2022, overseas sales reached KRW 1.5 trillion, accounting for 36% of the overall sales.) U.S. support revolves around three primary brands (flagship luxury brand Sulwhasoo, Lanegie and Innisfree) and ecommerce efforts as well as retail footprint inside Sephora and Bloomingdales have increased, along with the acquisition of Tata Harper.
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CONTACT: Brooke Vane
FleishmanHillard
Brooke.Vane@fleishman.com
615.977.2522
KEYWORD: UNITED STATES UNITED KINGDOM NORTH AMERICA ASIA PACIFIC EUROPE SOUTH KOREA MIDDLE EAST
INDUSTRY KEYWORD: LUXURY WOMEN DEPARTMENT STORES MILLENNIALS MEN SPECIALTY GENERATION Z CONSUMER COSMETICS RETAIL
SOURCE: Amorepacific
Copyright Business Wire 2023.
PUB: 05/18/2023 11:11 AM/DISC: 05/18/2023 11:09 AM
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