AmorePacific’s Q2 Sales Soar

AmorePacific Group recorded sales of approximately $1.5 billion (1,719.7 billion won) in Q2 2016, up 21.7% from the same period last year. Operating profit was up 27.1%. Performance was driven by the continued growth of major cosmetics subsidiaries in Korea and abroad,according to the K-beauty leader.
 
AmorePacific Corporation recorded solid growth in the domestic and overseas markets. Domestic cosmetics business sales were up 13% year-on-year and operating profit was up 9% year-on-year, thanks to distinctive brand equity and increased retail competitiveness, the company said. The rapid growth comes from the continued growth of what the company calls the “back of the five global champion brands,” namely Sulwhasoo, Laneige, Mamonde, innisfree and Etude.

According to AmorePacific, its global cosmetics business recorded a gain of 46% year-on-year.
 
Sulwhasoo expanded its customer base via digital media, while Hera built its brand identity around the concept of “Seoulista” and made preparations for global expansion, the firm said.
 
The company’s premium business unit, which includes Iope, Laneige, Mamonde, and Aritaum enhanced marketing activities and expanded product categories to increase its reach to younger customer base. In addition, an aggressive push was made for moisturizer and makeup categories, such as Laneige Water Bank Gel Cream, Laneige Two Tone Collection, Mamonde Rose line, Mamonde Cover Foundation, etc.
 
Innisfree achieved solid growth across all channels thanks to a positive market response to new products—My Cushion, Skinny Mascara, Jeju Lava Seawater line—and brisk sales of major products such as Green Tea Seed Serum and Vocano Pore Clay Mask, the firm said.

You can read more about AmorePacific in the August 2016 issue of Happi, which will include our latest International Top 30 Report, or in this recent online feature.