Amore Pacific Exports to Exceed $200 Million
John Kim, Dec. 7, 2015, 8:21 a.m.
South Korean beauty power house AmorePacific Co. is expected to log over US$200 million in exports this year, for the first time for a local cosmetics producer, on the back of brisk sales in China, according to data and industry officials Monday. AmorePacific exported cosmetics worth $182.52 million in the January-October period, the latest figures available by the Korean Customs Service showed.
If the sales trend continues, the total amount is expected to exceed the $200-million mark this year, company officials said. In 2013, AmorePacific surpassed $100 million in outbound shipments, reaching the landmark for the first time in the nation's beauty industry. Since its foundation in 1945, AmorePacific has pioneered the Korean beauty industry with innovative products.
The firm's revenue in the global market in the first three quarters reached 860.1 billion won ($737.4 million), already surpassing last year's overseas sales at 832.5 billion won. Its overseas sales have grown over 30 percent over the past five years as its wide range of products became popular among Chinese consumers.