Recently launched in the United Kingdom and the Middle East, the premium skincare brand is the main pillar of the Korean beauty giant’s international development. Already well established in North America, Amorepacific announces an 80% growth in sales in the first quarter of 2023 in the United States.
Amorepacific recently launched Laneige, the group’s flagship global skincare brand, in the United Kingdom and the Middle East, following North America. Indeed, Korea’s leading cosmetics manufacturer is continuing its international development strategy, with the aim of further reducing its dependence on the Korean and Chinese markets. In 2022, overseas sales reached KRW 1.5 trillion (approximately EUR 1.05 billion or USD 1.13 billion), accounting for 36% of the group’s overall sales.
Strong growth in North America
Since last year, Amorepacific has continued to grow in the North American beauty market with its Laneige, Sulwhasoo and Innisfree brands. Alongside these iconic K-beauty brands, the Korean giant has also acquired Tata Harper, one of the pioneering clean luxury skincare brands in the United States.
Amorepacific claims its sales in North America grew 80% in the first quarter of 2023, thanks to strong sales growth in e-commerce channels such as Amazon and branded stores, as well as offline channels including Sephora.
“Laneige’s Lip Sleeping Mask and Water Bank Blue Hyaluronic Collection, Sulwhasoo’s First Care Activating Serum and Concentrated Ginseng Renewing Cream, Innisfree’s Daily UV Defense Sunscreen and Green Tea Hyaluronic Acid Collection have become best-selling products among Millennials and Gen Z consumers who are highly engaged in skincare,” said the group in a statement.
In addition, Amorepacific partnered with the Metropolitan Museum of Art (MET) through its Sulwhasoo brand in March to expand communication with local customers.
Laneige makes offline debuts in the UK at Space NK
In the UK Laneige, which has grown into a leading premium skincare brand with a global presence in 18 countries across Asia, North America, Australia, and Europe, has made offline debuts at luxury beauty retail chain Space NK at the end of April.
For the month of May, Amorepacific operates an exclusive Laneige brand space at two Space NK stores (Kings Cross and Westfield) in central London, while expanding brand awareness locally through content related to brand ambassador Sydney Sweeney.
“Prior to our official launch, Laneige was featured on Cult Beauty, Look Fantastic, and Beauty Bay, e-commerce platforms specializing in beauty in the U.K., and we were able to see the strong interest from local customers,” said Jinpyo Lee, Chief Strategy Officer at Amorepacific Group. “As the demand for Korean beauty products in the European market has increased in recent years, our sales in Europe grew by more than 90% year-on-year in Q1 2023. The North American and European markets are a hotbed for global beauty brands. The growth of Amorepacific’s brands in these markets shows that local customers recognize our efforts in investing in natural ingredients and R&D for more than 70 years,” he added.
Partnership with Sephora in the Middle East
This month, Laneige also made its first foray into the Middle East, through a partnership with Sephora, the number one beauty retailer in the region. The brand’s flagship products are now available in Sephora stores across the United Arab Emirates and in Saudi Arabia, Kuwait, Qatar and Bahrain.
“Amorepacific will continue to actively expand customer contact points in various global markets and grow into a global beauty company,” concluded Jinpyo Lee.
