South Korea’s cosmetics giant Amore Pacific (Laneige, Etude House, Innisfree, Sulwhasoo, etc.) has announced its will to strengthen its international footprint, with a focus on the Middle East and Latin America beauty markets, where the group intends to make its first foray in 2016 and 2017, respectively.
According to Suh Kyung-bae, Amore Pacific’s CEO, these markets have the potential to boost the growth of the group’s main brands. More specifically, Amore Pacific intends to target the emerging middle-class consumers in megacities with populations over 10 million.
Today, the Amore Pacific Group is mainly present in Asia (Korea, China, Japan and Southeast Asia). The group is also present in Europe and North America, thanks to its perfume brands Annick Goutal and Lolita Lempicka.
Beyond the opening of new markets, the Group obviously intends to strengthen its presence in the Asia-Pacific region, especially through the development of special lines dedicated to the Chinese market. Amore Pacific also specifically targets markets such as Indonesia, Malaysia, Philippines, Thailand, Singapore and Vietnam and also intends to enlarge its North American distribution network where the brands Sulwhasoo and LaNeige where launched recently.