Amorepacific moves ahead with global business expansion
With its single, clear mission to present its unique perception of beauty, otherwise known as ‘Asian Beauty’, Amorepacific has expanded its portfolio in existing markets: Japan, HERA in Singapore and the US. In addition, it has also entered new markets, namely Oceania and the Middle East.
As it forges ahead with its aim to boost its global business expansion, Amorepacific Group moves its brand strategy beyond its core areas of Asia, North America and Europe to enter high-growth potential areas including Oceania.
Singapore: A strategic focus
The beauty and cosmetics leading luxury brand, HERA, will launch in Singapore in May 2018, following its entry into the Chinese marketplace in 2016.
Singapore is a key growth market for Amorepacific. As the company builds anticipation for HERA’s upcoming launch, it prepares to launch its opening store in Takashimaya Department Store located in Singapore's main shopping street on 10th May 2018. As it brands itself as a trends-based label, HERA builds upon its ‘Seoulista’ concept.
AMOS Professional, a Korean hair professional brand, will enter the global market by also launching its hair care name in Singapore.
Amorepacific has launched several initiatives to ensure it is ready to enter new regions. It is currently undertaking regional feasibility and extensive customer research. To support its expansion efforts, the company set up its Melbourne-based office and its Middle East office in Dubai, UAE.
After recording an approximate 30% annual growth rate in the last five years, the company has been looking for an optimal business frame to launch and engage Australian customers.
Asian beauty philosophy
The Group’s corporate philosophy is based on creating ‘a more beautiful world’ by building harmony between “inner and outer beauty based on a deep understanding of nature and human, combined with Amorepacific Group's original innovative technology” to communicate the power of Asian beauty.
"Since achieving Korea's first-ever cosmetic exports in 1964, Amorepacific has used 'beauty' as a global language form to continuously communicate with its customers all around the world," Suh Kyung-bae, Chairman and CEO, Amorepacific Group.
"We will accomplish our goal of becoming a 'Great Brand Company' to make A MORE Beautiful World by spreading unique, innovative beauty culture,” added Kyung-bae.