Amorepacific and LG Household and Health Care are vying for the top spot in the herbal cosmetics segment, market data showed Sunday.
According to data collected by the Korea Customs Services, sales of Amorepacific‘s Sulwhasoo and LG Household and Health Care’s the History of Whoo both passed 1 trillion won ($890 million) in the third quarter this year.
(Yonhap)
While Amorepacific highlights its Sulwhasoo was the first to exceed 1 trillion won in sales, LG underscores sales of Whoo at duty-free shops topped its competitor, largely backed by success with Chinese consumers. Between January and August, the Whoo brand‘s sales at duty-free shops logged 365 billion won, while Amorepacific’s Sulwhasoo posted 354.9 billion won in sales, according to Korea Customs Services’ data.
Sulwhasoo, which was first introduced in 1997 when it achieved 100 billion won in sales, grew quickly to mark a fivefold increase in sales and reach 500 billion won in 2005. In 2015, Amorepacific became the first Korean cosmetics firm to break 1 trillion won in sales, and it has maintained that sales level since then.
Amorepacific has introduced its Sulwhasoo brand to 12 different countries around the globe and operates 220 branches to date.
A latecomer in the herbal cosmetic segment, LG Household and Health Care launched its luxury cosmetics brand in 2004. Last year, the company chalked up more than 1 trillion won in sales for the first time. It is also to pass the mark this year.
LG Household and Health Care operates some 150 branches in China, an increase from 62 branches in 2013. The company has 250 branches across Asia.
By Shim Woo-hyun (ws@heraldcorp.com)
