Amorepacific reveals ambition to lead in China
The company\'s China business grew 38% last year
South Korea’s leading cosmetics company, Amorepacific Corporation hopes to become the market leader in China. The company has 14 regional offices in 11 countries, and generated KRW442.8bn in overseas sales last year, when its China business grew 38%.
Amorepacific China was set up in 2000 in Shanghai and launched Laneige in 2002, Mamonde in 2005, Sulwhasoo in 2011 and innisfree in 2012. The company has a China sales target of $2.9bn by 2020. To achieve this, it aims to follow a multibrand strategy, launching premium brands in individual cities and then extending distribution progressively.
Laneige is now available in about 300 department stores, while Mamonde is available in 884 department stores and 2,590 other outlets. Sulwhasoo, meanwhile, which is the company’s leading luxury brand, was introduced in 2011 and is now available in 27 department stores in Beijing, Shanghai and other cities.
