AmorePacific posts record half-year revenue

AmorePacific Group, a holding company of Korea’s No. 1 cosmetics company AmorePacific, posted a record-high half-year revenue of 3.4 trillion won ($3 billion), up 21.8 percent from the same period last year, thanks in large part to the worldwide popularity of K-beauty products.

Its operating profit from January to June also jumped 29.1 percent year on year to 728.8 billion won.

Core affiliate AmorePacific, which owns global cosmetics brands Sulwhasoo, Laneige and Innisfree, also saw record-high half-year revenue, raking in 2.9 trillion won, up 22 percent from the same period last year.

Its half-year operating profit also jumped by 19 percent to 578.4 billion won.

AmorePacific’s rigorous expansion into the overseas market was a key contributor. The second-quarter operating profit of Innisfree, the company’s low-cost nature-friendly brand, saw a 107 percent year-on-year increase to 62.8 billion won, backed by its expansion into duty-free shops and other export channels.