Mid-SAD bad news AMOREPACIFIC actively seeking overseas advancement

Mid-SAD bad news AMOREPACIFIC actively seeking overseas advancement

 

MOREPACIFIC Group, which suffered sluggish 1H11 due to the risk of THAAD (high-altitude missile defense system), looks for overseas operations AMOREPACIFIC Group posted consolidated operating profit of 57.1% It recently announced that it had been counted. Sales for the same period decreased by 17.8% to 1.41 trillion won, and net profit fell by 59.5% to 100 billion won.

 

 

Sales for the first half of this year fell 6.1% to 3,268.3 billion won, while operating profit fell 30.2% to 508.9 billion won. AmorePacific's main consolidated subsidiary, 2Q consolidated sales and operating profit fell 17% and 58% to W120.5bn and W101.6bn, respectively

The sluggish earnings are attributed to China's Sad retaliation. The company is reluctant to rely too heavily on China and to make up for its slump in other overseas markets.

 

In fact, AMOREPACIFIC Group's overseas business sales grew 7.3% YoY to W885.5bn. Operating profit fell 16% to W107.9bn. Asian business sales grew 9.7% to reach 840.7 billion won. China, Hong Kong, and other parts of the world. However, the growth rate in Thailand, Malaysia and Indonesia was high.

Accordingly, AMOREPACIFIC will launch its own cosmetics brands, Innisfree and Sulwhasoo, in the United States and France, respectively, starting next month.

 

 

Innisfree will open its first flagship store at Union Square in Manhattan, New York, next month. As it is the # 1 AMOREPACIFIC brand shop in the US market, it plans to open a large-scale store in the core commercial area for tourists from all over the world.

In France, Sulwhasoo, the representative brand of the AMOREPACIFIC group, takes its first step. The opening of a sole store in Paris' department store 'Galeries Lafayette' in Paris in September.

Gallery Lafayette is the largest department store chain in France and is home to some of the world's top luxury brands and cosmetics brands. Sulwhasoo will unveil its brand philosophy and product line that will bring beauty of 'harmony and balance' based on Asian wisdom.

Gallery Lafayette is the largest department store chain in France and is home to some of the world's top luxury brands and cosmetics brands. Sulwhasoo will unveil its brand philosophy and product line that will bring beauty of 'harmony and balance' based on Asian wisdom by opening a single store.