Korean cosmetics conglomerate boosts Australian presence
08 Nov 2018
Amorepacific, South Korea’s oldest and largest beauty business, is expanding its footprint in Australia as demand for K-beauty (Korean beauty) products strengthens.
The company has set up a head office in Melbourne, opened two stores under the banner of natural beauty brand Innisfree in Melbourne, and launched its Amorepacific and Laneige lines at Mecca Cosmetica and Sephora. A third Innisfree store is planned to open by the end of the year.
According to Inside Retail, the company, dubbed the L'Oréal of Korea, noted that Australia ranks among the the top five countries in the world for average cosmetics spending per person.
In a company media statement, the group says Australian and New Zealanders put a significant amount of time and effort into protecting their skin against environmental factors. According to the media statement, a preference for natural makeup and healthy skin has led to a growing interest in K-beauty.
‘I am so pleased to introduce Amorepacific Group’s global brands – LANEIGE, innisfree and AMOREPACIFIC – to Australia and New Zealand this year,’ says Caroline Dunlop, President of Amorepacific Australia.
‘As a K-beauty leader, Amorepacific Group is driving innovative beauty trends globally.’
One of the world’s largest beauty and cosmetics companies, Amorepacific has more than 30 brands in its portfolio, annual revenue of around A$8.5 billion and a presence throughout Asia, North America, Europe and Oceania.