Amorepacific sets a sales goal of 15 trillion won for the upcoming decade

Amorepacific, the leading cosmetics company based in South Korea, has announced ambitious expansion plans to broaden its reach and cover the full spectrum of beauty, from skin care to hair care and makeup.

The company aims to rank among the top three beauty makers in the premium skin care market globally. To achieve this, Amorepacific is adopting a strategy that involves tailored products, localized content, and partnerships with global distributors.

Amorepacific has identified several key markets for its expansion, including China, Southeast Asia, India, the USA, and Europe. These regions offer significant potential due to their large populations, growing middle classes, and increasing interest in high-quality cosmetics.

In China, Amorepacific has already seen success, with many Asian brands finding success in this competitive market. Southeast Asian countries like Indonesia, Thailand, and Vietnam also present opportunities due to their large populations and growing economies. India, with its vast population and growing interest in beauty products, is another attractive market for Amorepacific.

While the USA and Europe are already saturated markets, they still offer opportunities for innovative brands with a unique competitive edge. Amorepacific has already made inroads into these markets and plans to strengthen its presence through targeted expansion and strategic partnerships.

Amorepacific's expansion plans are driven by its global ambitions and its enhanced beauty portfolio, which it sees as key drivers of future growth. The company's 80th anniversary celebration, held at its headquarters in Yongsan, central Seoul, highlighted these ambitions.

Suh Kyung-bae, the chair of Amorepacific, stated that the company has led the growth of Korea's beauty industry and driven global recognition of K-beauty over the past eight decades. He also emphasized a differentiated strategy for expansion in core global markets, including East Asia, Europe, and North America.

Amorepacific also plans to integrate artificial intelligence into its operations to drive growth. Export sales are expected to account for over 70 percent of Amorepacific's total revenue.

Suh Kyung-bae's vision for Amorepacific includes delivering concepts that embrace both appearance and inner well-being, transcending age and time. To this end, Amorepacific Group plans to invest heavily in anti-aging research, applying the findings across its product categories.

In addition, Amorepacific aims to extend into wellness and beauty device businesses. The company's goal is to become a top global beauty and wellness company with annual sales of 15 trillion won ($10.76 billion) within the next decade.