분야
hwp2. Current state of overseas expansion
3. AMOREPACIFIC IN FOREIGN MARKET
4. EVALUATION AND RECOMMENDATION
1.1. Introduction
AMOREPACIFIC Corp. have targets to be a global beauty company with its core businesses in cosmetics and personal care and health products. It was founded in 1945 as a Pacific Chemical Company and it has been involved in beauty products.
AMOREPACIFIC seeks to push the boundaries of traditional beauty with innovative solutions drawn from its rich Asian heritage, With the corporate vision of “The World will know us as the ‘Asian Beauty Creator'.” The Company also sets a high value on the five values: Openness, Innovation, Proximity, Sincerity, and Challenge to openly communicate with its customers and employees, pursue innovative ideas and new concepts, keep physically and psychologically close to customers, fulfill obligations to society, and be passionate about overcoming challenges.
The Company first initiated its export sales via OEM and also started to sell cosmetics products under its own brand “AMORE” in 1964. In 1990, the Company turned to international markets by establishing its first overseas subsidiary in France, followed by establishing its Shanghai and Chartres plants in 2002 and 2004, respectively.
In 2010, AMOREPACIFIC's sales reached KRW 2,000,000,000,000, with operating profit of KRW 340,000,000,000 and net earnings of KRW 285,000,000,000. The Company maintains its number one player in the domestic market with a 34.9% cosmetics market share in 2010. In terms of its overseas operations, the Company has enhanced its sales in 2010 by approximately 11% to KRW 335,800,000,000.
With its strong domestic status, the Company is targeting sales and operating profit growth of 10% in 2011 by creation of growth markets. For each business segment, the Company's Cosmetics Division is focusing on procuring competitiveness in the Asian markets through reinforcement of R&D activities to provide differentiated products and services. For the personal care products business or “Mass Cosmetics & Sulloc Division,” the Company is intent on strengthening domestic market competency by expansion into high-functional products in major personal care categories.Chung K. Kim, Jeongsoo Han, Mina Jun, Miyea Kim, Joshua Y. Kim , Jaeyong Song, Hyejun Kim 참조
