Amorepacific Strengthens Global Presence with COSRX

Amorepacific Strengthens Global Presence with COSRX

THE WHAT?  Amorepacific has expanded its presence in the global market by acquiring additional shares of COSRX, making COSRX a subsidiary of Amorepacific.

THE DETAILS  Amorepacific announced its acquisition of 288,000 remaining shares from COSRX’s largest shareholder and related parties for 755.1 billion won, exercising a call option they were granted in September 2021. This move increases Amorepacific’s ownership of COSRX shares to 93.2%.

THE WHY?  COSRX, established in 2013, is a hypoallergenic skincare brand specialising in products for sensitive skin. It has experienced remarkable growth, with an average annual sales growth rate of over 60% in the past three years, reporting 204.4 billion won in sales in 2022. The brand has a strong global presence, operating in approximately 140 countries, including North America, Southeast Asia, Europe, and Japan, with over 90% of its sales coming from overseas markets. COSRX’s success includes top-performing products on platforms like Amazon and a notable digital presence, as seen in its TikTok challenge, which garnered over 2.1 billion hashtag views in 2022. Additionally, the partnership between Amorepacific and COSRX has resulted in successful product launches, further strengthening their global expansion plans.