AmorePacific utilises domestic market strength in Korea to boost prestige skin care sales
The brand’s First Care Serum has been Sulwhasoo's best-selling product since it was first introduced in 1997, and the company reported that sales figures for the product have reached 100bn Won (€67.7m), claiming this is a first in the industry.
Geographical aid
Jin-Soo Jeon, vice president of the Luxury BM Marketing department at AmorePacific, explained that it is the brand’s close connection with the Asian consumer which has helped to develop the products for the market, and reach the milestone figure.
“We will continue our efforts to become the No.1 luxury serum beloved among women throughout the world,” Jeon added.
In addition to domestic market success AmorePacific also launched the skin care serum in Hong Kong, the US, and China.
The strong performances in these markets lead to a new larger sized bottle of 100ml launched in New York and in China as a response to consumer demand.
AmorePacific targeting China
The latest company success has come following an announcement last year that Asia-Pacific remained a key market for the company as a whole, with China emerging as a focal point to drive sales growth.
The company boosted its sales channels by gaining door-to-door cosmetics sales rights in Shanghai, as well as strengthening its e-commerce channels and expanding its duty free business.
AmorePacific also announced an investment into a beauty research and development facility in Shanghai last week, in order to accelerate business growth in China.
Consisting of a production capacity of 7,500 tons and 100m products, construction of the building is expected to be complete in March 2013.
