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14. AmorePacific
Korea
www.amorepacific.co.kr
Sales: $1.78 billion
Sales:
$1.78 billion.
Key Personnel:
Kynuh-Bae Suh, president and chief executive officer; Sang-Bae Shim, executive director, production and logistics innovation and chief production officer; Young-So Kwon, executive director, sales and marketing; Dong-Hyun Bae, executive director, business support; Ok-Sub Lee, chief technology officer; Hae-Sun Lee, chief marketing officer.Major Products:
Skin care and makeup—Laneige, Iope, Mamonde, Innisfree, Hera, Lirikos. Fragrances—Lolita, Lempika, Castel Bajac, Espoir.New Products:
Sulwhasoo su Essence, ioPE Whitegen RXC, V=B Yeginseng, premium makeup from Laneige, Happy Bath Blue Spa Essential Body Cleanser.Comments:
“2007 was a meaningful year in that we strengthened the foundation for long-term growth. We enhanced the company’s competitiveness, and reinforced the foundations for globalization amid various changes in the global business environment,” Kyung-Bae Suh, president and chief executive officer of Amore Pacific wrote in his company’s 2007 annual report. As a result, AmorePacific’s sales were $1.78 billion.Cosmetics sales rose 9.3% in Japan and 24.8% in overseas markets. AmorePacific continued strong growth in the domestic market, securing its leading position in the prestige channels and exhibiting a strong performance in the mass cosmetics channel. The company said it was able to increase per counselor sales and enhance its business structure for a secure and stable level of growth in the door-to-door channel. In the department store sector, AmorePacific saw continued strong performance by reinforcing its men’s brands and the makeup categories. The firm also revamped its discount store channel distribution structure, which has “ironed out” the disparities among the various channels.
By brand, Sulwhasoo strengthened its leading position in the oriental herbal cosmetics market, backed by the release of new products such as Su Essence, and the continuous growth of products such as Jaeumsaeng Cream and Yunjo Essence.
Seen as a growth driver, AmorePacific extended its inner beauty brand V=B with Yeginseng, a red ginseng line.
Amore Pacific has a lofty goal: it wants to become one of the world’s top 10 cosmetics companies by 2015. And like its competitors, Amore is looking to neighboring China to grow sales. Among its many efforts, the firm has been increasing Mamonde’s presence at specialty and department store counters and boosting promotional activities
In North America, AmorePacific is re-launching its brand, and is seeking sales space in duty-free shops.
