Amore Pacific Corp., the nation’s largest beauty company, said Monday that it has logged 1.3 trillion won ($1.2 billion) in sales in the first half of the year, a 16 percent increase from a year earlier.
During the same period, operating profits amounted to 241.5 billion won, up 4 percent, while net profits increased 3.9 percent to 184.4 billion won, the company said.
“The strong performance in the first half was largely driven by focusing on our core businesses and strengthening global competitiveness,” the company explained.
The sales of cosmetic products increased 15 percent to reach 1.14 trillion won. Its key brands such as Sulwhasoo, Amore Pacific and Laneige increased 16 percent, 30 percent, and 26 percent in sales each.
The sales at department stores, in particular, saw a 23 percent surge, led by the solid growth of the company’s premium brands such as Sulwhasoo and Amore Pacific.
While domestic sales increased 13 percent with 985 billion won, its overseas sales surged 30 percent to 155.3 billion won.
In China, where the sales surged 35 percent, the company is stepping up expansion efforts, launching Sulwhasoo, the herbal medicine cosmetics brand, early this year.
The company holds more than 40 percent of the domestic market share and 1.2 percent globally. It is currently ranked 20th internationally among cosmetics companies and aims to enter the global top 10 by 2015.
By Lee Ji-yoon (firstname.lastname@example.org)