A South Korean beauty company hits a new high

IT is confirmed. We love Korean beauty products.

However, it’s not just any brands, but those that continuously innovate to give us the best ingredients and technologies.

Amorepacific Group, South Korea’s largest beauty company, recently announced the achievement of another milestone in its development and growth, becoming South Korea’s first global beauty company to reach the seventh spot on the Women’s Wear Daily’s Beauty Top 100.

The accomplishment marks a five spot jump for the company from last year’s position at number 12.

The influence of WWD’s annual rankings of the world’s top 100 beauty companies is based on sales of previous fiscal year and is widely acknowledged in the beauty industry. WWD summed up Amorepacific’s 2016 performance as “another year of strong growth.”

Amorepacific’s business portfolio includes more than 20 brands dedicated to meeting consumer demands. Among these, Amorepacific’s five global champion brands – Sulwhasoo, Laneige, Mamonde, innisfree and Etude – are strategically managed to offer “singular” brand experiences to their diverse international consumer base. All of its five champion brands are available locally.

Since establishing South Korea’s first cosmetics research lab in 1954, Amorepacific has a history of firsts in the South Korean beauty industry including the pioneering of innovative product categories from cushion foundations, sleeping masks, boosting essences and twotone lip bars.

“Amorepacific Malaysia has achieved solid growth through the years,” said Amorepacific Malaysia GM Margaret Chin, adding that “we aim to further grow our business by 46% this year as we continue to expand our business in different regions, different channels and different platforms.”

Additionally, in Malaysia, Amorepacific is building a research and production complex in Johor Baru by 2020, which will serve as a hub in the Asean region for local research and production.

Across the causeway, Amorepacific is currently conducting a joint research with Singapore’s Agency for Science, Technology and Research to take anti-ageing skincare to the next level. – Sandra Low