Monday, May 20, 2024

Corporate Policy

Amore Pacific takes control of the North American market, “This time it’s Mexico”

Launched multiple simultaneous online and offline attacks on Sephora with Laneige


Amorepacific, which has recently been increasing its presence in the North American market, including the United States, is strengthening its contact with Mexican consumers by introducing the premium beauty brand Laneige.


Laneige began selling more than 20 products through Mexico's Sephora e-commerce channel on the 8th. Starting on the 22nd, it will also be sold at 36 Sephora offline stores across Mexico. To commemorate the launch in Mexico, we have prepared various promotions, including free samples.


Amorepacific said, “Recently, Laneige has been recognized for its innovative technology not only in Asia but also in global markets such as Europe, the Middle East, Oceania, and North America. In particular, in the North American market, products such as △ Lip Sleeping Mask △ Water Bank Blue Hyaluronic Cream △ Cream Skin are recording megaton-level sales growth,” he said. “In the case of Mexico, we believe that this is the market that absorbs North American market trends first, so Laneige “We decided to meet Mexican customers through ,” he explained the background of his strategy.


Amore Pacific plans to target the Mexican and Central and South American markets with more diverse brands in the future.


Jinpyo Lee, Executive Director of the Group Strategic Planning Department, said regarding this entry into Mexico, “Laneige is a brand that can provide the highest level of satisfaction to Mexican customers in their 20s and 30s who are sensitive to trends and have a high demand for premium skin care,” and added, “We have signed a partnership with Sephora Mexico. “Through close collaboration, we plan to actively communicate with local customers and closely understand local market demands to solidify our position in the Latin American beauty and personal care market, which is worth close to $45 billion.”


Amorepacific's North American business, which has been growing rapidly recently, achieved growth of 105% in the second quarter of this year thanks to the performance of key brands such as Sulwhasoo and Laneige.


During this period, Laneige developed differentiated customer experiences such as operating a virtual store and offline pop-up tour buses linked to the Innisfree brand.


Sulwhasoo strengthened its rebranding campaign and increased awareness. The strong sales of Innisfree's daily UV and green tea lines also contributed to sales growth.


The company said, “We will continue to grow our North American business through strategic collaboration with major multi-brand stores and e-commerce channels, strengthening customer communication to expand brand awareness, and entering the Mexican market.”