AmorePacific is the dominant cosmetics company in South Korea, with around 40% local market share, and it has a broad international profile, mainly in China and other Asian countries but also increasingly in selected Western markets and in travel retail. Key brands include the luxury AmorePacific brand (which has selective distribution in the US and Japan as well as more widely in Korea), premium-priced Sulwhasoo (its biggest brand with sales in excess of $1bn), Laneige, IOPE and Mamonde, as well as the Lolita Lempicka and Annick Goutal fragrance ranges in Europe. Affiliated companies include top-selling Korean cosmetics brand Etude and natural beauty business Innisfree. Direct sales account for around a quarter of the company's revenues, through a network almost 40,000 independent consultants, but the remainder is generated by traditional retail sales through department stores and mass outlets, as well as the group's own Aritaum retail network. The latter now has a growing footprint in North America. Most brands are priced as luxury or premium items, but AmorePacific also produces mass-market cosmetics, haircare and bodycare products, mainly for domestic sale. Revenues were around $5.0bn in 2015. Kyung-Bae Suh is CEO, and now South Korea's second richest person. His grandmother laid the foundations of the business in the 1930s with a line of home-made hair oils made from camellia flowers. His father incorporated that business after World War II as Pacific Chemical Industries, South Korea's first domestic cosmetics company. It adopted the Amore Pacific name in 2002. Adbrands does not currently offer a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe. See also: World's Top Beauty Companies ranking.
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Capsule checked 31st March 2016
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