Under the ¡°Together, We Can.¡± management strategy, leading cosmetics firm strives to achieve goal to be Great Global Brand company in its 70th anniversary
Chairman Suh Kyung-bae of Amore-Pacific.
Amore-Pacific has a core vision to continue to be a global cosmetics maker with this year marking its 70th anniversary. The year it was founded was the same year Korea was liberated from Japanese colonial rule —1945. In order to achieve the goal, ¡°Together, We Can.¡± has been picked as the title for its management plan. It paves the way for the company to cope with changes in the cosmetics market, both at home and abroad, so the company can become a Great Global Brand Company.
In his New Year speech at the company ceremony to kick off the year, Chairman Suh Kyung-bae said the company, which has pursued beauty over the past seven decades, is now at a crossroads to extend its reach overseas so it can change the world to seek Asian beauty. The cosmetics company plans to strengthen its R&D activities on customers preferences in cosmetics products in Asian regions, including China in particular, from this year to help expand the markets for its five leading cosmetics products, which are Sulwhasoo, La Neige, Ma Monde, Etude and Innisfree. The company also plans to strengthen the sales of its products at duty free shops at home and abroad to take advantage of the explosive growth of the number of Asian tourists. The company's ultimate aim is to change women's cosmetics application habits now that cushion foundation products have gained popularity among Asian women.
The company will also strengthen training facilities and training for its employees at home and abroad to further develop its Haecho Project,which the company launched in 2011 to make its employees more professional and take charge of global marketing programs for its cosmetics lines around the world. The name of the project was borrowed from Monk Haecho, who traveled around countries like India and China as a Buddhist missionary during the ancient Silla Kingdom (57-935) in Korea.
The company now has over 100 employees in 15 countries around the world who promote the marketing of its cosmetics lines. The company also strengthened its online marketing operations, blurring the line between on- and offline markets, by focusing on its omni-line strategy to provide the best services on both the offline sale outlets and its official online brand site with various mobile applications.
The company also plans to make its digital capacity to cope with changes in markets both on- and offline. A big part of the company's management strategy is to make its internal operation tighter, more than the growth of its sales and other out-of-company operations. meaning that quality is the most important factor in the company's operations. A good example is that sales outlets both at home and abroad that don't make a profit will be continuously improved. The company will expand investments in R&D and search for new growth engines in a bid to help sales outlets overseas continuously turn profits.