CJ Olive Young's revenue surpassed that of Amorepacific and LG Household & Health Care for the first time, reaching 3.86 trillion won in 2023.
Amorepacific Group and the Korea Resource Circulation Service Agency (KORA) have signed an agreement to promote the recovery and recycling of cosmetic glass bottles.
Amorepacific Group on Tuesday reported its 2023 net profit of 234.7 billion won ($176.6 million), up 57.3 percent from a year earlier.
Amorepacific is launching a sustainable beauty initiative to recycle cosmetic containers and reduce plastic waste, including a free container pickup service. The company is also incorporating more recycled materials into its packaging and labels.
Korean cosmetics spending remains weak due to inflation and the popularity of 'natural' makeup looks, benefitting smaller, budget-friendly sellers like Daiso, Tony Moly and Missha.
Located in Myeongdong in central Seoul, Beauty Play draws beauty product lovers from worldwide. It provides visitors with a wide array of experiences related to the Korean beauty industry, all free of charge.
Amorepacific is entering the Mexican cosmetics market with its mid-range skincare-focused brand Laneige.
Amorepacific has introduced its luxury makeup brand, Hera, into the Japanese market as it hastens its expansion in the island nation to reduce its reliance on China.
Korean cosmetic companies are intensifying their marketing efforts in China as relations between the two countries continue to thaw and Chinese tour groups return to Korea.
Korea JoongAng Daily Sitemap