1 year ago
Amorepacific Eyes India: Doubling Down on K-Beauty Expansion
Imagine a big beauty company from South Korea, called Amorepacific.
They sell popular brands like Laneige and Innisfree.
They've decided India is a super important place for them!
They've been selling here for over a decade and want to sell even more.
They plan to introduce more products, including ones designed for Indian skin tones.
They are seeing lots of growth, especially online.
People in smaller towns are starting to buy their products too.
They are also considering making products in India.
This is all because everyone in India loves the 'glass skin' look and other benefits of Korean beauty products.
Amorepacific is expanding its K-beauty business in India.
The company plans to introduce more of its 30 global brands to India.
Demand for Korean beauty products is growing rapidly in India.
Amorepacific is experiencing strong growth, especially in e-commerce.
The company is considering local manufacturing in India.
- Who
- Amorepacific Group, a South Korean beauty company.
- What
- Is expanding its K-beauty business in India.
- Where
- In India, focusing on e-commerce and multi-brand retail.
- When
- Since 2012, with plans for further investment.
- Why
- To capitalize on the growing demand for Korean beauty products.
Key facts
- Company
- Amorepacific Group
- Brands in India
- Laneige, Innisfree, Etude, COSRX
- India Market Growth
- 40-60% in last five years
- K-Beauty Market Growth (India)
- Projected to reach $1.5 billion by 2030
- Global Revenue (2024)
- $3.48 billion
- Focus
- Expanding e-commerce, multi-brand retail, and India-specific products
Quotes
Paul Lee
Managing director & country head of Amorepacific India
“We have more than 30 brands in the group and currently we're operating five in India. We also have plans to launch more India-specific products—all these are actively prepared and are under the process of our internal plan. Yes, there will be more products in India”
livemint.com
“Amorepacific has designated India as a strategic core market… We take pride in having established a wholly owned subsidiary in India—not recently, but over a decade ago, which reflects our deep belief in the market potential”
livemint.com
Sharon Pais
Chief business officer of Myntra
“We see about 54% growth in customers in non-metros for international beauty brands; it’s north of 250-300% for Korean beauty”
livemint.com
Devangshu Dutta
Founder and chief executive of Third Eyesight
“It’s a cultural expansion of all things Korean, which has been happening not limited to India but global. Given our population and income profile, there is room for brands to cater to different segments and for the market to further expand.”
livemint.com
