"K-Beauty is establishing itself as a beauty category, going beyond popular individual products or temporary trends."
Lee Jun-sik, President of Amorepacific Europe (Senior Executive Vice President), recently pointed out changes in the European beauty market in these terms. He explained that K-Beauty, which had relied on the buzz of individual products, has entered a stage where brand technological capabilities and efficacy are being scrutinized. Amorepacific is using the UK as a strategic hub to expand major distribution networks and accelerate its push into the European market by leveraging the competitiveness of each brand.
Senior Executive Vice President Lee said, "Consumer interest is gradually expanding beyond the buzz of individual products to include technological capabilities, efficacy, and the unique stories and experiences of brands." This means that consumers are beginning to look at ingredients and efficacy to find products suitable for their skin concerns, and even consider brand expertise as a purchasing criterion.
The revenue growth trend is steep. Amorepacific's Europe, Middle East, and Africa (EMEA) revenue increased from 51.8 billion won in 2023 to 170.3 billion won in 2024. Last year, it recorded 241 billion won. The share of total revenue also rose from 3.7% in 2023 to 5.7% last year.
The UK is at the center of the European business expansion. This judgment stems from the fact that the country has a high receptivity to global beauty trends and diverse, well-developed online and offline distribution networks, making it advantageous for promoting new brands. Senior Executive Vice President Lee stated, "The UK is a market with high receptivity to global beauty trends where major global and local distributors are actively conducting business," adding, "In particular, it is the country with the most developed e-commerce market, and with diverse online and offline distribution channels established, consumers have abundant opportunities to encounter new brands and products."
Amorepacific has secured major distribution networks in the UK, including Boots, Space NK, and Sephora. Recently, it has also entered Harrods department store, broadening its touchpoints with global consumers. Senior Executive Vice President Lee cited product competitiveness, brand composition, and local partnerships as the background for expanding distribution networks. He said, "Amorepacific possesses product competitiveness based on research and development capabilities accumulated over more than 80 years, along with a diverse brand portfolio featuring different identities and expertise, including Laneige, Aestura, Sulwhasoo, and Innisfree."
Roles for each brand have also been clearly divided. Laneige leads with moisture care and brand experience. COSRX emphasizes skincare expertise focused on ingredients and efficacy. Aestura is being cultivated as a premium derma brand specialized in skin barrier care. Sulwhasoo differentiates itself as a luxury beauty brand combining ginseng research and Korean aesthetics, while Innisfree presents products centered on natural-derived ingredients and efficacy.
Expanding the popularity of representative products to the entire brand is also a task. Starting with products that have built recognition locally, such as Laneige's Lip Sleeping Mask and Lip Glow Balm, and Aestura's Atobarrier365 Cream, they introduce various product lines and new products together. They also utilize digital marketing, collaborations with distributors, and in-store experience programs.
Senior Executive Vice President Lee said, "Trends are emerging where consumers organically utilize online and offline channels, such as checking product information and consumer reviews online before experiencing them directly at offline stores, or repurchasing products experienced in stores online." He added, "It is becoming increasingly important to provide a consistent experience across the various channels through which consumers encounter brands."
The European market has different consumer characteristics and distribution environments by country, making it difficult to apply a uniform expansion strategy. Amorepacific plans to review markets with high growth potential based on brand management experience accumulated in the UK and expand its business according to national demand and distribution channels.
Senior Executive Vice President Lee emphasized, "Amorepacific's greatest competitiveness lies in product competitiveness based on research and development capabilities and manufacturing technology accumulated over more than 80 years, as well as a diverse brand portfolio featuring different identities and expertise." He further announced plans to strengthen "Holistic Longevity" research pursuing healthy beauty beyond skin to overall life, as well as AI-based skin analysis and customized services.
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