This isn't the first time AmorePacific has invested in the US though, in 2003 it popped up at Bergdorf Goodman and by 2005 the company had also invested in Neiman Marcus.
According to regional publication Business Korea, the new store will see AmorePacific tempting shoppers with its Eastern influence on the same floor of the upmarket department store as luxury players Chanel, Dior, Lancome, and Estee Lauder.
Commenting on the first venture of this kind for any Korean cosmetic company, a spokesperson said; “With the technology using three natural materials, including green tea, ginseng, and beans, [our] products have finally begun to work in the global market.”
According to various industry analysts, Korean firms now more than ever, consider it necessary to succeed in New York if they are to become a leading player in the global market.
"Hong Kong is a gateway to the Asian market, and New York serves that role in North and Latin Americas," adds AmorePacific chairman Suh Kyung-bae.
'Cushion' expertise has thrust AmorePacific into the limelight
Amorepacific recently signed 'a memorandum of understanding' with Parfums Christian Dior whereby the Asian giant offered its innovative 'Cushion' technology to the luxury player.
The two global cosmetics players in Asia and Europe say the new found partnership will bring a plethora of innovative beauty experiences to a broader customer base and to further strengthen their growth in the international cosmetics market.
As part of the deal, Christian Dior should be able to use AmorePacific’s technology for its own products.
"This agreement holds great significance in that our 'Cushion' technology is appreciated by one of the world's most respected luxury brand companies and a powerhouse in the global beauty industry," says Sang-Bae Shim, Amorepacific president.
The 'Cushion' is a make-up compact featuring a specially-designed foundation with a urethane foam that preserves the liquid formula and provides sun protection.
It has been become a popular product for its convenience and according to global research firm TNS Korea, 75% of Korean women have used or are currently using cushion products.
The compact is also said to have changed the make-up habits of Korean women by reducing the steps and time needed in creating the skin-looks they prefer, with many saying the 'Cushion' is their sole base make-up product.
As of January 2015, Amorepacific has offered a total of 19 cushion products from its 13 brands in more than ten countries in the Asian and North American regions, leading the ‘globalization’ of the Korean-born Cushion.