![]() ![]() Amorepacific has about 250 directly managed stores in the region and plans to open another 150 to meet its 2020 revenue target, Na said. Now it’s focusing efforts in Southeast Asia, primarily through five brands: Laneige, Innisfree, Etude House, Sulwhasoo and Mamonde. “Meanwhile, Southeast Asia markets have been growing strong for the past five years.”Īmorepacific’s share of the Asia-Pacific cosmetics market doubled to six percent between 20, overtaking Estee Lauder Companies, according to Euromonitor. “The recent political conflict between China and South Korea is posing a serious threat to the business of South Korean beauty exporters,” said Sunny Um, a Singapore-based research analyst at Euromonitor. Shares have declined 22 percent so far this year, compared with a 19 percent increase for the benchmark Kospi index. That may be especially significant for Amorepacific since China accounted for 19 percent of revenue in the year ended December 31. Based on the average spending of Chinese visitors in 2016, that cost South Korea at least 4.7 billion dollars. There were 2.3 million fewer Chinese tourists in the five months through July, compared with a year earlier. China opposes the system and, in the immediate aftermath of its deployment, travel agencies stopped selling tour packages to South Korea, where consumer products are hot items. ![]() The move is spurred in part by tensions with China over South Korea’s hosting of the US’s Thaad missile system, meant to protect against a North Korean attack. ![]() The company wants to triple that, given the region’s cosmetics and skincare market is expected to reach 9.6 billion dollars in sales by 2020, according to Euromonitor. Southeast Asia generated just 150 billion won (133 million dollars) in sales for Amorepacific last year, or less than 3 percent of its total. “The region is a melting pot compared with China and Korea.” “The diversity of Southeast Asia was a challenge,” said Robin Na, head of Amorepacific’s operations in Southeast Asia. It marks a significant shift for the Seoul-based company, which generated about 90 percent of its revenue last year in South Korea and China – where many women are fairer-skinned and the weather more variable. #ETUDE HOUSE HALAL MAKEUP SKIN#South Korea’s biggest cosmetics maker is revamping its products to suit Muslims and darker-skinned women in Southeast Asia as it tries to make up business lost because of political tensions with China over a missile-defence system.Īmorepacific is pushing harder into Indonesia, Singapore, Malaysia, Thailand and Vietnam with a lineup that takes into account skin tones, the region’s humidity and the need for Muslim women to wash their faces five times a day before prayers. ![]()
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