Korean cosmetic brands, which have been heavily reliant on the Chinese market, are shifting their focus to the United States and Japan to strengthen their global presence.
Amorepacific Group’s second quarter net rose more than 2,000 percent on year to 142.8 billion won ($127.5 million), far surpassing market estimates.
Amorepacific Group's net profit jumped by more than 80 percent in the first quarter on improved sales of brands like Sulwhasoo, Hera, Innisfree and Etude.
Amorepacific Group’s annual net profit nosedived more than 90 percent last year compared to the previous year, as offline sales suffered from social distancing and travel restrictions due to Covid-19.
Amorepacific Group appointed Kim Seung-hwan as the new CEO and Vice President of the cosmetics company on Thursday.
Amorepacific Group's net profit plummeted 93.7 percent on year to 7 billion won ($6.2 million) in the third quarter
Amorepacific Group’s profit plummeted in the second quarter as sales at offline stores, including duty-free shops, suffered as a result of the pandemic.
Sulwhasoo, a premium Amorepacific beauty brand, was introduced to India Monday. The first sales are via Nykaa, an online shopping mall, while distribution at Nykaa Luxe offline stores is scheduled for the second half.