Amorepacific "North America Q1 Sales Increase Over 60% Year-on-Year"

Amorepacific store located in Bloomingdale, USA.

[Asia Economy Reporter Moon Hyewon] Amorepacific announced on the 15th that its North American sales in the first quarter of this year increased by more than 60% compared to the same period last year.

According to Amorepacific, North American sales in the first quarter were driven by Sulwhasoo and Laneige.

Sulwhasoo saw increases in both sales and profitability across online and offline channels. Offline, it focused on expanding operations centered on MBS channels in cosmetics specialty stores such as Sephora. In March, it entered 23 new Sephora Retro Fit stores, securing a total of 51 sales outlets. Centered on the recently renewed Jaumsaeng Cream, it recorded growth rates of 200% in March and over 300% cumulatively in the first quarter.

Laneige raised brand awareness among local customers by launching the 'BTS·Amorepacific Lip Sleeping Mask Purple Edition' last year and sponsoring BTS's US concerts. Recently, with the renewed launch of Water Bank, it partnered with actress Sydney Sweeney and held a NYC press event in March.

The ‘Birthday Kit’ featuring Laneige’s flagship products gained great popularity at Sephora, with sales of the ‘Lip Sleeping Mask’ increasing by more than 70% and Water Bank Cream by over 300%. The Laneige lip category accounts for more than 50% of Laneige’s total sales and has recorded an average annual growth rate of over 25% in the past three years. On Amazon, from the soft launch at the beginning of the year to the official opening in March, it steadily grew by more than 20% each month and ranked among the ‘TOP 5’ most searched skincare brands on Amazon.

Innisfree also focused on expanding volume in the Sephora-centered MBS channel, achieving sales growth of over 40% compared to the previous year. By April, it expanded to a total of about 490 stores including Sephora offline and Kohl’s Corporation, and its hero product, Daily UV Sunscreen, ranked 6th in Sephora’s sun care category.

Amorepacific achieved the first export of domestically produced cosmetics in 1964 and has pursued brand globalization since the early 1990s. It established factories in China and France to build local production bases, and based on this, began full-scale global market expansion in the 2000s.

The United States is a very important hub with a significant share in the global beauty market. Amorepacific entered the American market focusing on the growth potential of the luxury beauty market with its luxury global flagship brand ‘AMOREPACIFIC’. After first stepping into New York in March 2002, Sulwhasoo entered the US market in June 2010, Laneige in 2014, and Innisfree opened a store in Manhattan’s Union Square in September 2017.