AmorePacific-owned Innisfree is becoming a force to be reckoned with in South Korea’s budget cosmetics market and looks set to topple LG Household & Health Care’s TheFaceShop Co from the top spot this year.
According to a report published by Pulse News, Innisfree clocked up sales of KRW592.1 billion in 2015, narrowing the gap between it and market leader TheFaceShop Co to just KRW37 billion. In 2014, when Innisfree jumped into second position, the gap between the two brands stood at KRW160 billion.
It’s Skin Co has also made great strides over the last two years, jumping from sixth position to fourth with sales of KRW309.6 billion in 2015. The brand’s success has been attributed to the popularity of its signature Snail Cream with Chinese consumers.