08.02.21
South Korea
www.apgroup.com
Sales: $4.0 billion
Amorepacific is the cutting edge of skin care research.
Key personnel
Suh Kyung-bae, chairman and chief executive officer; Ahn Sae-hong, president and co-chief executive officer; Seung Hwan Kim, chief executive officer, Amorepacific
Major products
Cosmetics: Amorepacific, Primera, Soon+, Sulwhasoo, Iope, Odyssey, Laniege, Hanyul, Mirepa, Mamonde, Lirikos, Bro&tips, Innisfree, Outrun, Be Ready, Etude, Easypeasy, Enough Project, Sienu, Espoir, Hera, Rarekind, Holitual, Steady:D; Fragrances: Goutal Paris, Fradore; Medical beauty: Aestura; Beauty device: Makeon; Inner beauty: Vital Beautie and Cube Me; Hair care: Ryo, Mise en Scéne, Fresh Pop, Labo-H, Ayunche, Amos Professional; Body care: Happy Bath, Illiyoon, Fillvoid; Dental care: Median Boncho Study, Pleasia
New products
Soluderm, Mamonde Probiotics Ceramide Cream, Hanyul Yuja Vita-C Serum, SkinU Lacto Cream Bubble Wash, Laneige Lip Treatment Balm
Comments: Sales fell 22.2% last year. The company blamed COVID-19 for domestic offline channel sales to decline by double digits. Domestic travel retail sales fell due to a lack of tourists; however, international travel retail sales recovered in the second half of 2020. More good news was that online sales jumped 50%—including a 90% gain in China for the Amorepacific brand. Every subsidiary’s sales fell in 2020. Etude’s sales fell 38% and Innisfree’s revenue declined 37%. Elsewhere, Amos Professional sales dropped 19%, Aestura sales fell 11% and Espoir sales fell 9%,
First quarter sales rose nearly 11% and operating profit soared 190%. Revenue increased thanks to a 19.6% gain in international sales. Sales in China grew mid-30% in local currency, but other revenue in Asia declined due to the pandemic. Sales in North America declined due to restricting of physical retail stores. Sales in Europe rose due to gains in Sephora. Domestically, cosmetics sales rose 9.9%, but daily beauty product sales fell 5.9%. Amorepacific noted that domestic online sales jumped 30% in Q1.
For the remainder of the year, the company has set a revenue target of $4.7 billion at last year’s exchange rate To get there, the company has a three-pronged approach built on nurturing next-generation brands, growing digital platforms and improving profitability.
www.apgroup.com
Sales: $4.0 billion
Amorepacific is the cutting edge of skin care research.
Suh Kyung-bae, chairman and chief executive officer; Ahn Sae-hong, president and co-chief executive officer; Seung Hwan Kim, chief executive officer, Amorepacific
Major products
Cosmetics: Amorepacific, Primera, Soon+, Sulwhasoo, Iope, Odyssey, Laniege, Hanyul, Mirepa, Mamonde, Lirikos, Bro&tips, Innisfree, Outrun, Be Ready, Etude, Easypeasy, Enough Project, Sienu, Espoir, Hera, Rarekind, Holitual, Steady:D; Fragrances: Goutal Paris, Fradore; Medical beauty: Aestura; Beauty device: Makeon; Inner beauty: Vital Beautie and Cube Me; Hair care: Ryo, Mise en Scéne, Fresh Pop, Labo-H, Ayunche, Amos Professional; Body care: Happy Bath, Illiyoon, Fillvoid; Dental care: Median Boncho Study, Pleasia
New products
Soluderm, Mamonde Probiotics Ceramide Cream, Hanyul Yuja Vita-C Serum, SkinU Lacto Cream Bubble Wash, Laneige Lip Treatment Balm
Comments: Sales fell 22.2% last year. The company blamed COVID-19 for domestic offline channel sales to decline by double digits. Domestic travel retail sales fell due to a lack of tourists; however, international travel retail sales recovered in the second half of 2020. More good news was that online sales jumped 50%—including a 90% gain in China for the Amorepacific brand. Every subsidiary’s sales fell in 2020. Etude’s sales fell 38% and Innisfree’s revenue declined 37%. Elsewhere, Amos Professional sales dropped 19%, Aestura sales fell 11% and Espoir sales fell 9%,
First quarter sales rose nearly 11% and operating profit soared 190%. Revenue increased thanks to a 19.6% gain in international sales. Sales in China grew mid-30% in local currency, but other revenue in Asia declined due to the pandemic. Sales in North America declined due to restricting of physical retail stores. Sales in Europe rose due to gains in Sephora. Domestically, cosmetics sales rose 9.9%, but daily beauty product sales fell 5.9%. Amorepacific noted that domestic online sales jumped 30% in Q1.
For the remainder of the year, the company has set a revenue target of $4.7 billion at last year’s exchange rate To get there, the company has a three-pronged approach built on nurturing next-generation brands, growing digital platforms and improving profitability.
