Q3 earnings soar 34.9 percent at K-beauty favorite AmorePacific

Q3 earnings soar 34.9 percent at K-beauty favorite AmorePacific

AmorePacific has announced an impressive 34.9 percent rise in net earnings to KRW142.24 billion for 3Q 2015. The leading K-beauty brand attributed its growth to a strong performance in China, which more than offset sluggish duty free sales caused by the MERS outbreak.

Sales jumped 14.5 percent to KRW1.14 trillion, with overseas sales soaring 70 percent to KRW313.1 billion – the majority of this stratospheric climb was attributed to Chinese tourists keen to emulate the celebrities in popular TV shows, however more mature markets such as France, Japan and the US also performed well.

Both premium line Sulhwasoo and budget brand Innisfree posted profits in China thanks to an aggressive expansion policy that saw AmorePacific open several doors in the market.

 

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