Amorepacific Corporation Explained
| Amorepacific Corporation |
| Native Name: | 주식회사 아모레퍼시픽 |
| Founder: | Suh Sung-whan |
| Key People: | Suh Kyung-bae (Chairperson) |
| Revenue: | KRW 4.78 trillion (2021)[1] |
| Operating Income: | KRW 379 billion (2021) |
| Net Income: | KRW 267 billion (2021) |
| Assets: | KRW 5.88 trillion (2021) |
| Foundation: |
as Pacific Chemical Co. Ltd. |
| Location: | Yongsan-gu, Seoul, South Korea |
Amorepacific Corporation is a South Korean beauty and cosmetics chaebol, operating more than 30 beauty, personal care, and health brands including Sulwhasoo, Laneige, Mamonde, Etude House, AMOREPACIFIC and Innisfree.[2] The firm was founded in 1945 by Suh Sung-whan and currently managed by Suh Kyung-bae, the son of the founder. It is the second-largest cosmetics company in South Korea and one of the 10 largest cosmetics companies in the world.[3] [4]
History
The company originated back in the 1930s, when Madame Yun Dok-jeong began selling camellia oil in the village of Kaesong. Her second son, Suh Sung-whan, took over the business in 1945 and transformed the firm into a cosmetics chaebol, naming it "taepyeongyang (meaning Pacific Ocean in Korean)".[3]
Suh Sung-whan handed the company over to his second son Suh Kyung-bae in 1997.[3] Suh rebranded the firm into Amorepacific to target the global market and turned the company into a chaebol giant that manages dozens of cosmetics brands.
In 2000, the company established the Korea Breast Cancer Foundation. In 2002, the company was renamed AmorePacific. Four years later, the holding company AmorePacific Group was founded. In 2010, the company built a second R&D center. Forbes named AmorePacific one of the most innovative companies in the world.
Brands
- Aestura[5]
- Amorepacific
- Amos Professional
- Aritaum[6]
- COSRX
- Dantrol
- Espoir
- Etude House
- Fresh Pop
- Goutal Paris
- Hanyul
- Happy Bath
- HERA
- ILLIYOON
- Innisfree
- IOPE
- Laneige
- LIRIKOS
- Makeon
- Mamonde
- Median
- MIRAEPA
- Mise-en-Scène
- Odyssey
- Osulloc
- Primera
- Ryo
- Songyeum
- Sulwhasoo
- Vital Beautie
- EASY PEASY
- Bro & Tips
- Be Ready
See also
Notes and References
- Web site: Amorepacific Corporation and Subsidiaries - Consolidated Financial Statements December 31, 2020 and 2019 . https://web.archive.org/web/20210924014644/https://www.apgroup.com/int/en/investors/amorepacific-corporation/ir-reports/audit-reports/__icsFiles/afieldfile/2021/05/27/2020_AuditReport_ap_en.pdf . 2021-09-24 . live.
- Web site: Ming. Christine Tan,Cheang. 2017-05-26. South Korean beauty brand Amorepacific looks to global expansion. 2020-04-30. CNBC. en. 2019-12-26. https://web.archive.org/web/20191226053425/https://www.cnbc.com/2017/05/26/south-korean-beauty-brand-amorepacific-looks-to-global-expansion.html. live.
- News: How South Korea's AmorePacific Became One Of The World's Most Innovative Companies. Chung. Grace. Forbes. 2016-11-20. 2021-12-22. https://web.archive.org/web/20211222211803/https://www.forbes.com/sites/gracechung/2015/08/19/how-south-koreas-amorepacific-became-one-of-the-worlds-most-innovative-companies/#3374cd2e689c. live.
- Web site: Brands Amorepacific. 2021-06-12. www.apgroup.com. 2021-06-14. https://web.archive.org/web/20210614145019/https://www.apgroup.com/int/en/brands/brands.html. live.
- Web site: Brands Amorepacific. www.amorepacific.com. 2016-11-20. https://web.archive.org/web/20161119070210/http://www.amorepacific.com/int/en/brands.html. 2016-11-19. dead.
- Web site: A New 70-Store Korean Beauty Chain Is Here. Racked. 20 May 2018. 2016-04-25. 2018-05-21. https://web.archive.org/web/20180521104236/https://www.racked.com/2016/4/25/11499180/aritaum-korean-beauty-chain. live.
