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Amorepacific, one of the leading cosmetics companies in South Korea, has been expanding overseas for quite some time now. It has entered some foreign markets, such as the United States and Japan, where it is rapidly expanding.
With the good results, Amorepacific is now planning to further advance its presence in both the U.S. and Japan. As per Pulse News, the company will dive deeper into the Japanese and American cosmetic markets through its Laneige flagship brand.
The goal of the expansion in the said countries is to replicate the same level of success it was able to achieve in Southeast Asia and China in the early 2000s. Amorepacific is using Laneige because it is not just the company’s flagship brand, but it has also brought in the highest revenue from the North American market, which fueled a 47.6% increase in profits from 2019 to 2021.
Now, this revenue is expected to balloon to more than double this year. The expectation was also based on the brand’s performance during the latest Amazon Prime Day, which is considered a major annual event of the e-commerce giant.
It was held for two days in July, and it was noted that Amorepacific’s Laneige brand topped the sales in the Beauty & Personal care category. The brand became one of Amazon’s best-selling names as a result.
In any case, in Japan, Amorepacific is banking on the growing global popularity of Laneige when it launched the brand on the country’s Cosme online stores, Japan’s largest cosmetics and beauty platform. This also marks Laneige’s and the company’s first official venture into the Japanese market.
“Laneige’s success during Amazon Prime Day was made possible by North American customers recognizing the high quality and the creativeness of our products,” Laneige’s GTM division head, Noh Eun Suk, said in a statement. “The company also plans to launch more of its products in Japan as many distributors have contacted the company to meet the high demand among Japanese consumers.”
Meanwhile, Amorepacific also recently partnered with India’s Boddess beauty retailer to host an exclusive customer engagement session at the country’s Ambience Mall, Gurugram that was held earlier this month. APN News reported that the South Korean cosmetic firm had one clear mission when it staged the event, and it was to present its unique perception of beauty - the ‘Asian Beauty’ – to the world.
