Amorepacific expands to Australian market
Amorepacific, a major Korean cosmetics maker, has entered the Australian market with one of its most popular brands as the company accelerates its overseas push in the face of dwindling tourism from China.Products from Amorepacific’s mid-range brand Laneige are now available at Sephora stores in Australia and online, the company said Wednesday.
The size of Australia’s cosmetics market is estimated to reach 7 trillion won ($6.5 billion), with an average annual growth rate of 5 percent, the company said, citing a 2016 report from market research firm Euromonitor.
Yonhap
with the Korea JoongAng Daily
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