10.25.21
Update: Amorepacific ranks at #14 on our latest report Top 20 Global Beauty Companies 2022.
Amorepacific is #19 on this year's list of Top Global Beauty Companies.
Below is a look at the company's 2021 highlights, recent acquisitions, best-selling brands, and latest innovations.
Corporate Sales
$4.2 billion
Beauty Sales
$4 billion
Key Personnel
Suh Kyung-bae, chairman and chief executive officer; Ahn Sae-hong, president and co-chief executive officer; Seung Hwan Kim, chief executive officer, Amorepacific
Major Products/Brands
Happy Bath, Illiyoon, Fillvoid, Amorepacific, Primera, Soon+, Sulwhasoo, Iope, Odyssey, Laniege, Hanyul, Mirepa, Mamonde, Lirikos, Bro&tips, Innisfree, Outrun, Be Ready, Etude, Easypeasy, Enough Project, Sienu, Espoir, Hera, Rarekind, Holitual, Steady:D, Median Boncho Study, Pleasia, Ryo, Mise en Scéne, Fresh Pop, Labo-H, Ayunche, Amos Professional, Goutal Paris, Fradore, Aestura
New Products
Soluderm, Mamonde Probiotics Ceramide Cream, Hanyul Yuja Vita-C Serum, SkinU Lacto Cream Bubble Wash, Laneige Lip Treatment Balm
Comments
Covid-19 took a deep bite out of Amorepacific’s overall revenue (-20.6%), operating profit (—66.6%) and channel sales, which also dipped in double digits—but it wasn’t all bad news. International travel retail sales made their comeback with the resumption of consumer air travel, and online sales soared 50%, with an especially great performance turned in by the Amorepacific brand in China.
The company saw the beginning of its post-pandemic recovery begin in Q1, as sales climbed almost 11% and operating profits leapt 190%. International sales also provided a welcome boost (+9.6%) to overall revenue, as did sales of domestic cosmetics (+9.9%) and sales in China (+30%), but that growth was tempered by losses in North American sales, where retail stores were still dealing with closures and foot traffic restrictions.
On the heels of launching its new luxury skin care brand Sienu and acquiring a minority share of Australian luxury skin care group Rationale in May, June saw Amorepacific’s sustainable and innovative Laneige Layering Cover Cushion earn the 2020 WorldStar Packaging Award from the World Packaging Organization, and launched Enough Project, a “pragmatic” lifestyle brand comprised of seven vegan-friendly and gender-free skin care products. Then in July, the company demonstrated its commitment to improved environmental responsibility with the launch of several eco-friendly products highlighting “metal zero” pumps in containers made of 100% recycled plastic.
In October, the company opened a shampoo and body wash Refill Station–the first in Korea. Consumers choose from 15 products that are dispensed into coconut shell-origin containers. The station only sells content made within 100 days and the containers are disinfected before a refill using an ultraviolet LED lamp. The following month, Amorepacific announced a three-way collaboration with Dow Packaging and Specialty Plastics and Flair Flexible Packaging. Flair Flexible Packaging will use Dow’s Innate TF-BOPE resins to develop new, recyclable packaging for Amorepacific’s Sulwhasoo, Primera and Illiyoon products. The company also invested $3 billion KRW in DMIL, a media start-up that will help the company build partnerships with beauty influencer content and commerce.
In December, CES announced that Amorepacific’s Lip Factory by Color Tailor customized lip manufacturing technology was an honoree for the 2021 Innovation Award in the Health & Wellness category. The technology is an integrated online-offline lip makeup manufacturing system. It utilizes the AI-based mobile application to analyze users’ facial features and recommend customized colors. The pigment dispensing system Lip Factory then manufactures the customized color product immediately on-site.
2021 Highlights
This past March, the brand debuted a newly developed, eco-friendly, paper tube that both reduced the use of plastic by 70% and increased the expiration date of product formula it holds by 36 months. The company said they would initially be put in its clean beauty range, Primera.
After the company’s May announcement that it would be pulling its Innisfree brand from the North American market, Amorepacific posted incredible gains in Q2 2021, with net profits jumping 2,680%, operating profit gains of 188.5% and sales growing 10.4%. The company attributed the growth to a boom in luxury cosmetic sales, which grew almost 100% in China and 40% in Korea.
In June, the brand also unveiled its “2030 A MORE Beautiful Promise” campaign, a set of sustainability management goals under the umbrella of “moving forward together with customers and society” and “coexisting responsibly with nature,” for more meaningful growth. Included in the plan are achieving carbon neutrality and zero-waste-to-landfill across global production sites, reducing the use of plastics in product packaging, and creating 100% reusable, recyclable or compostable plastic packaging materials, and investing 10 billion KRW into biodiversity conservation efforts.
And in September, the company hosted an online ceremony for its 76th anniversary in the “metaverse” in which all Amorepacific members from Korea and abroad took part in a three-day festival filled with virtual events.
Read Next: Revlon is #20.
Amorepacific is #19 on this year's list of Top Global Beauty Companies.
Below is a look at the company's 2021 highlights, recent acquisitions, best-selling brands, and latest innovations.
Corporate Sales
$4.2 billion
Beauty Sales
$4 billion
Key Personnel
Suh Kyung-bae, chairman and chief executive officer; Ahn Sae-hong, president and co-chief executive officer; Seung Hwan Kim, chief executive officer, Amorepacific
Major Products/Brands
Happy Bath, Illiyoon, Fillvoid, Amorepacific, Primera, Soon+, Sulwhasoo, Iope, Odyssey, Laniege, Hanyul, Mirepa, Mamonde, Lirikos, Bro&tips, Innisfree, Outrun, Be Ready, Etude, Easypeasy, Enough Project, Sienu, Espoir, Hera, Rarekind, Holitual, Steady:D, Median Boncho Study, Pleasia, Ryo, Mise en Scéne, Fresh Pop, Labo-H, Ayunche, Amos Professional, Goutal Paris, Fradore, Aestura
New Products
Soluderm, Mamonde Probiotics Ceramide Cream, Hanyul Yuja Vita-C Serum, SkinU Lacto Cream Bubble Wash, Laneige Lip Treatment Balm
Comments
Covid-19 took a deep bite out of Amorepacific’s overall revenue (-20.6%), operating profit (—66.6%) and channel sales, which also dipped in double digits—but it wasn’t all bad news. International travel retail sales made their comeback with the resumption of consumer air travel, and online sales soared 50%, with an especially great performance turned in by the Amorepacific brand in China.
The company saw the beginning of its post-pandemic recovery begin in Q1, as sales climbed almost 11% and operating profits leapt 190%. International sales also provided a welcome boost (+9.6%) to overall revenue, as did sales of domestic cosmetics (+9.9%) and sales in China (+30%), but that growth was tempered by losses in North American sales, where retail stores were still dealing with closures and foot traffic restrictions.
On the heels of launching its new luxury skin care brand Sienu and acquiring a minority share of Australian luxury skin care group Rationale in May, June saw Amorepacific’s sustainable and innovative Laneige Layering Cover Cushion earn the 2020 WorldStar Packaging Award from the World Packaging Organization, and launched Enough Project, a “pragmatic” lifestyle brand comprised of seven vegan-friendly and gender-free skin care products. Then in July, the company demonstrated its commitment to improved environmental responsibility with the launch of several eco-friendly products highlighting “metal zero” pumps in containers made of 100% recycled plastic.
In October, the company opened a shampoo and body wash Refill Station–the first in Korea. Consumers choose from 15 products that are dispensed into coconut shell-origin containers. The station only sells content made within 100 days and the containers are disinfected before a refill using an ultraviolet LED lamp. The following month, Amorepacific announced a three-way collaboration with Dow Packaging and Specialty Plastics and Flair Flexible Packaging. Flair Flexible Packaging will use Dow’s Innate TF-BOPE resins to develop new, recyclable packaging for Amorepacific’s Sulwhasoo, Primera and Illiyoon products. The company also invested $3 billion KRW in DMIL, a media start-up that will help the company build partnerships with beauty influencer content and commerce.
In December, CES announced that Amorepacific’s Lip Factory by Color Tailor customized lip manufacturing technology was an honoree for the 2021 Innovation Award in the Health & Wellness category. The technology is an integrated online-offline lip makeup manufacturing system. It utilizes the AI-based mobile application to analyze users’ facial features and recommend customized colors. The pigment dispensing system Lip Factory then manufactures the customized color product immediately on-site.
2021 Highlights
This past March, the brand debuted a newly developed, eco-friendly, paper tube that both reduced the use of plastic by 70% and increased the expiration date of product formula it holds by 36 months. The company said they would initially be put in its clean beauty range, Primera.
After the company’s May announcement that it would be pulling its Innisfree brand from the North American market, Amorepacific posted incredible gains in Q2 2021, with net profits jumping 2,680%, operating profit gains of 188.5% and sales growing 10.4%. The company attributed the growth to a boom in luxury cosmetic sales, which grew almost 100% in China and 40% in Korea.
In June, the brand also unveiled its “2030 A MORE Beautiful Promise” campaign, a set of sustainability management goals under the umbrella of “moving forward together with customers and society” and “coexisting responsibly with nature,” for more meaningful growth. Included in the plan are achieving carbon neutrality and zero-waste-to-landfill across global production sites, reducing the use of plastics in product packaging, and creating 100% reusable, recyclable or compostable plastic packaging materials, and investing 10 billion KRW into biodiversity conservation efforts.
And in September, the company hosted an online ceremony for its 76th anniversary in the “metaverse” in which all Amorepacific members from Korea and abroad took part in a three-day festival filled with virtual events.
Read Next: Revlon is #20.