Amorepacific to go all-out to strengthen global presence: CEO

CEO Kim Seung-hwan (Amorepacific)

South Korean cosmetics giant Amorepacific Corp. will aim to secure sales growth and profitability, which will help enhance its global presence, according to its Chief Executive Officer Kim Seung-hwan.

Kim’s remarks were made during an Investor Day event for securities analysts and institutional investors on Tuesday, the company said on Wednesday.

During the event, Kim outlined Amorepacific‘s key management strategies, which include enhancing brand competitiveness, accelerating global rebalancing, strengthening channel responsiveness, and preparing for future growth.

“To enhance our brand competitiveness, we will diversify our portfolio by focusing on global flagship brands and future growth brands,” Kim said.

He also highlighted his company’s plans to accelerate global rebalancing by prioritizing key strategic markets such as the United States, Japan, Europe, India, and the Middle East.

To strengthen its channel responsiveness, the company plans to strengthen partnerships with major retail channels such as Sephora in the U.S., Japan, and Europe, while focusing on improving transaction structures in China.

For future growth, Kim noted that his company is “innovating customer experience with new digital-based services, such as Dr. Amore, an artificial intelligence (AI)-powered skin diagnosis system, and Custom Match, a personalized makeup solution.

Earlier, Amorepacific announced a value enhancement plan, targeting an average annual sales growth rate of 10 percent and an operating profit margin of 12 percent from this year through 2027.

The company also aims to increase its return on equity (ROE) to 7-8 percent by 2027.