AmorePacific didn’t just ride the craze for South Korean beauty products this year — it was the K wave. Over the past five years, the Seoul-based group’s sales have soared, from $1.84 billion in 2009 to $4.47 billion in 2014, an increase of 143 percent. Its proprietary cushion compact, first launched in 2008 and now available across its spectrum of 13 brands, posted growth of 1,000 percent year-on-year in 2014 alone, with more than 26 million units sold globally. And that’s before AmorePacific started licensing the technology to others such as L’Oréal and Dior. Other trends it’s helped kick-start include water-based gel moisturizers. While the majority of the company’s sales have been in Asia, this year it said it intends to amplify its U.S. presence, with the goal of being a top 20 brand by 2020. If 2015 is any indication, the company is well on its way.
Beauty Inc Awards: Disruptor of the Year
AmorePacific didn’t just ride the craze for South Korean beauty products this year — it was the K wave.
Special IssueBeauty Inc issue 12/11/2015