Amorepacific Group chalked up 5,326.1 billion won in sales and 356.2 billion won in operating profit last year on a consolidated basis.
The figures represent an 8 percent rise in sales and a 136.4 percent jump in operating profit on a year-on-year basis.
The group saw its operating profit jump on the back of rising online sales and improving business fundamentals.
Online and duty-free channels of the domestic business led the overall sales rise, while the overseas business saw its operating profit improve on the back of improving luxury brands and the rising efficiency of outlets.
The group saw sales in the cosmetic business amount to 4,923.7 billion won.
Amorepacific, the flagship company of the group, posted 4,863.1 billion won in sales, a 9.7 percent year-on-year rise.
The domestic business saw its online sales surge about 40 percent. Rising duty free channels led the overall sales increase.
The channel mix and improving operating profit of conventional channels led to a 156 percent jump in overall operational profit.
Luxury brands led the company’s overall business performance on the back of rising online channel growth. The company prioritized in core category products such as Sulhwasoo and Hera “Black Cushion” renewal.
Daily beauty brands showed signs of growth in each brand’s functional lines. The brand “Ryo” saw an overall sales decline. Sales related to sole domestic online channels achieved double-digit growth.
The overseas business saw operating profit jump 190 percent on the back of surging luxury brands and the rising efficiency of off-line outlets.
The North American and European markets saw sales surge on the back of diversifying brands and channels.
In China, the brand Sulwhasoo saw sales jump about 50 percent thanks to the nurturing of big-ticket liens and rising e-Commerce channels.
North America saw sales surge on the back of expanding online and off-line channels. Laneige and Innisfree’s entry into Amazon.com led rising online sales.
Europe saw overall sales rise on the back of diversifying brands and commercial channels. Laneige’s entry into the British e-Commerce channel Cult Beauty and Innisfree’s entry into the French multinational retailer Sephora led growth.
True to the management tenet “Winning Together,” Amorepacific Group implemented three action strategies: “strong brand,” “digital transformation,” and “innovating of business fundamentals.”
As for strong brand, the group strives to nurture products excellent and ramp up market analysis and responses to customers.
As for digital transformation, the company plans to strengthen content capabilities, build community fandom and reinvent digital-based business models.
As for innovating business fundamentals, the group plans to strengthen ESG management based on sympathy, improve profitability-oriented fundamentals and introduce a new management regime.
Amorepacific held “AmorepacificXNaver Super Beauty Week” in cooperation with Naver from Feb. 14 to Feb. 20.
Amorepacific Hosts ‘Super Beauty Week’ in Cooperation with Naver
Amorepacific held “AmorepacificXNaver Super Beauty Week” in cooperation with Naver from Feb. 14 to Feb. 20.
Amorepacific’s major brands, including Sulwhasoo, Laneige, IOPE, Vital Beauty, Mise-en-scene and Illiyoon participated in the promotion event.
Each day of the promotion period had a brand day in which each brand introduced new and hit products and offer diverse benefits such as saving Naver Pay points and additional discounts.
Naver Shopping offered live broadcasting programs on 10 occasions, one designed to communicate with customers.
Vice President Kim Kyung-Yeon with Amorepacific e-Commerce Division said, “The first large-sized promotion event in the year 2022 has opened on the back of a good reception of customers at the first Super Beauty Week with Naver last year.”
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