Amorepacific

AmorePacific Corporation (KRX: 090430) is a South Korean beauty and cosmetics conglomerate headquartered in Seoul. Founded in 1945, the company has grown to become one of the world's leading beauty companies, with a portfolio of over 30 brands including Sulwhasoo, Laneige, and Innisfree. In fiscal year 2023, AmorePacific reported annual revenue of KRW 4.02 trillion (~USD 3 billion).

AmorePacific's business is divided into several reporting segments:

• Cosmetics: The company's core business, including skincare, makeup, and fragrance products across luxury, premium, and mass market brands.

• Daily Beauty: Personal care products like shampoo and toothpaste.

• Overseas: International operations across Asia, North America, Europe, and the Middle East.

• Travel Retail: Duty-free and travel retail channels.

In 2023, AmorePacific saw mixed results across its global operations. While the company experienced strong growth in markets like North America and Europe/Middle East/Africa, this was offset by a significant decline in China, where revenues fell by over 20% YoY. The company has been focusing on restructuring its global business to emphasize high-growth regions. AmorePacific is also investing in digital capabilities, with its ecommerce platform seeing 52% YoY sales-growth in 2022.

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