AmorePacific executives and staff members pledged to achieve a vision of being “great global brand company” by addressing rapid outside and inside business environment changes at a ceremony to kick off the 2016 business year at the AmorePacific headquarters building in Cheongaecheon-ro, downtown Seoul, on Jan. 4.
In his speech, AmorePacific Chairman Suh Kyung-bae said, “As the global paradigm is changing to an era of Asia, now is the time when AmorePacific can seize up an opportunity to establish itself as a company creating Asia’s beauty, and a company representing Asia’s values.”
Chairman Suh demonstrated a strong determination of achieving his company’s vision, saying, “Let’s keep on challenging in a humble and steady fashion as we’re at a watershed of becoming a great global brand company.”
AmorePacific is accelerating its efforts to expand its presence in the global market with a focus on its top five global champion brands – Sulwhasoo, Laneige, Mamonde, Innisfree and Etude House. He called for his executives and staff members to secure the momentum for global growth by building infrastructure for creating a next global brand.
AmorePacific devotes itself to expanding its presence in the Asian market, including China and ASEAN while beefing up its position in advanced countries. The company also plans to strengthen its business in mega cities with a population of more than 10 million.
AmorePacific plans to lay a foundation for becoming a brand company by enhancing the company’s value as a global champion brand and nurturing a brand earning 1 trillion won in annual sales.
AmorePacific will develop diverse content through mobile channels to have close communication with customers. The company plans to accelerate efforts to secure leadership by beefing up e-Commerce capabilities.
AmorePacific plans to strengthen its retail capabilities to enhancing its brand values through innovative technology and product development and singularity as well as meeting customers’ diverse needs.
The company also plans to continue to develop its own unique products by researching into beauty values.
AmorePacific plans to nurture creative maestros and take the initiative in creating a corporate culture for better working conditions.
AmorePacific Chairman Suh Kyung-bae said, “AmorePacific will keep on strengthening a shared growth regime through creating shared value for integration and all AmorePacific executives and staff members will humbly challenge to achieve the goal of making customer around the globe beautiful.”
K-Beauty Growing in Popularity across Globe
It was in September 1945, shortly after Korea’s liberation from Japanese colonial rule, that Pacific (the predecessor of AmorePacific) was established. At that time, late founder Suh Sung-whan launched a small shop in Namdaemun Market.
AmorePacific, now 70 years old, has not only established itself as Korea’s representative cosmetics company, but is now a global company enhancing the standing of Korean-made cosmetics in the global market, including China and other Asian countries.
The Air Cushion cosmetic product that made its debut in 2008 has become a hit item, with a sales volume of one every three seconds, by attracting the hearts and minds of women around the world. “Sulwhasoo” has grown into the most popular brand among Chinese and other counties in Asia. Inspired by Asian philosophy, which values harmony between nature and humans and a balance between body and mind, Sulwhasoo revives legendary Asian medicinal herbs with advanced modern science. Sulwhasoo offers the ultimate skin solution that treats the skin from deep inside and delivers holistic beauty where the body and mind are in optimum balance.
To AmorePacific, when the company launched its operation 70 years ago, the Korean cosmetics industry was almost barren. A lack of raw materials to produce cosmetics limited the company severely. Although clumsily-made cosmetics were put on the market, late founder Suh did not choose the conventional easy way.
True to his mother’s business tenets and conviction, Suh Sung-whan focused on producing quality products, despite the initial business hardships he experienced.
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