Seo Kyung-bae "Sales of 15 trillion won by 2035... Leap to a global beauty and wellness representative company"

[Financial News] Amorepacific Group has set a mid- to long-term goal of achieving annual sales of 15 trillion won by 2035 to mark its 80th anniversary.
Seo Kyung-bae, chairman of Amorepacific Group, announced the vision and strategy to be pursued over the next 10 years at the anniversary ceremony held at the headquarters in Yongsan, Seoul on the 4th, stating, "Amorepacific will transform into a global beauty and wellness representative company with sales of 15 trillion won."
Amorepacific's sales last year were 4.2599 trillion won, and the plan is to lead more than double growth within the next 10 years. Chairman Seo emphasized, "We will expand the current global sales ratio of 50% to 70% and foster global mega brands with sales of over 1 trillion won," adding, "We will leap to the global top 3 in the core business of the premium skincare market."
The group has unveiled a new vision slogan, 'Create New Beauty,' and disclosed five strategies to implement it. The five strategies are △focusing on nurturing global core markets △strengthening integrated beauty solutions △developing anti-aging based on biotechnology △agile organizational innovation △AI-based business transformation.
The global strategy will be pursued around the so-called 'Pentagon 5 markets' including Korea, North America, Europe, India and the Middle East, China, Japan, and Asia-Pacific (APAC). The plan is to develop products and content tailored to the characteristics of customers in each region and to accelerate overseas business expansion by strengthening cooperation systems with global distributors.
It also aims to strengthen the integrated portfolio covering all areas of beauty. It will strategically foster the luxury anti-aging and derma (dermatology) categories and begin full-scale global expansion of haircare and makeup. Additionally, it plans to expand into wellness and device businesses to create a new growth axis for K-beauty.
It will focus on research and development of anti-aging based on biotechnology. By expanding investment in key research areas such as damage prevention, aging delay, and structural improvement, it plans to promote next-generation technology innovation and secure differentiated competitiveness in the bio-beauty field.
In addition, to respond agilely to the rapidly changing market environment, organizational innovation will be strengthened. The new product development process will be advanced, and AI will be applied to all sectors including marketing, R&D, production, logistics, and sales to enhance overall operational levels from customer response to quality management.
In his commemorative speech, Chairman Seo said, "Amorepacific has led the growth of the Korean beauty industry and the globalization of K-beauty over the past 80 years, overcoming turbulent times," adding, "We will continue the journey of 'New Beauty' by listening to customers' voices and proposing new beauty that suits the times."

clean@fnnews.com Lee Jeong-hwa Reporter