Amorepacific accelerates expansion of North American Market = Korean coverage

Amorepacific Corporation, a major Korean cosmetics company, announced on June 15th that it will accelerate the expansion of the North American market in order to overcome the difficult situation due to the COVID-19 virus and other diseases. In the January-March quarter, sales increased by more than 60% year-on-year by launching the company's cosmetic brands "Sulwhasoo" and "Laneige" in North America.

"Sulwhasoo" has focused on expanding sales centered on cosmetics specialty stores that handle various brands such as "Sephora." In March of last year, we newly entered 23 stores of "Sephora Retrofit". We secured a total of 51 stores and 251 notable product booths. Online, it has expanded its base by entering stores such as "skin stores" and officially launching sales at "Amazon" in April.

Last year, "Laneige" sold "BTS Amorepacific Lip Sleeping Mask Purple Edition" and sponsored BTS's US concert to raise awareness among local customers. Offline sales have grown since entering Sephora at Coles in the second half of last year, but the Lip Sleeping Mask was especially popular. The lip category accounts for more than 50% of the total sales of "Laneige" and has recorded an average annual growth rate of more than 25% over the past 3 years.

“Innisfree” is also expanding through the cosmetics specialty store channel centered on “Sephora,” and sales have increased by more than 40% year-on-year.