Amorepacific Group recorded sales of KRW 4.2599 trillion and an operating profit of KRW 249.3 billion in 2024. Compared to the previous year, sales increased by 5.9%, and operating profit rose by 64.0%.

In 2024, Amorepacific Group achieved sales and operating profit growth, driven by robust performance in global markets, particularly in Western regions. As a result of its global rebalancing efforts, the Americas surpassed Greater China in annual sales for the first time in the group's history. COSRX, incorporated into Amorepacific's performance from the second quarter of last year, contributed to global business growth with continued strong sales, particularly in the EMEA. Among leading subsidiary Amorepacific brands, LANEIGE, HERA, AESTURA, illiyoon, and LABO-H performed well, with strong sales continuing in Multi-Brand Shop (MBS) and online channels. Among major affiliates, INNISFREE and ETUDE saw decreased sales, while espoir, amos professional, and OSULLOC strengthened their competitiveness and achieved sales growth.

Amorepacific's Korean business recorded sales of KRW 2.1570 trillion, a 2.4% decrease compared to the previous year. Despite achieving solid growth in MBS and online channels through key product renewals and new product launches across brands, the continued decline in duty-free sales led to the decline. Operating profit increased by 1.3% due to improved profitability in the Korean cosmetics sector.

Among luxury brands, Sulwhasoo expanded its Concentrated Ginseng line's contribution in sales through product renewals, collaborative omnichannel marketing in e-commerce, pop-up store operations, and skin diagnosis services offered in department stores. HERA's renewed Black Cushion Foundation became the top-selling product in the Korean luxury makeup segment, demonstrating its leadership in the cushion product category. The brand also enhanced its presence by launching the new Rouge Glassy and executing global campaigns. IOPE also achieved annual sales growth through a strengthened retinol lineup and the launch of its renewed Super Vital 6th generation line.

Among premium brands, LANEIGE further strengthened its brand competitiveness through the renewal of Water Bank Cream, the launch of the new Bouncy & Firm line, and the Cream Skin campaign in collaboration with BTS's Jin. AESTURA maintained its position as the top seller in Olive Young's derma category, leading the 'slow aging' trend with its Regederm 365 line. MIMO by Mamonde, Mamonde's secondary brand, successfully penetrated the ultra-low-price market, surpassing one million units in cumulative sales within four months of launch at Daiso.

In daily beauty brands, core products achieved strong performance, primarily in MBS channels. illiyoon and LABO-H ranked first in Olive Young's body care and shampoo categories.

Amorepacific's global business recorded sales of KRW 1.6789 trillion, a 20.6% increase year-over-year supported by growth in Western markets. Notably, the Americas surpassed Greater China to become the group's largest global market by revenue for the first time in the group's history.

In the Americas, sales increased 83%, driven by strong growth from major brands, including LANEIGE, which maintained its leadership in the lip treatment category, along with the effect of COSRX integration. Key brands, including LANEIGE and INNISFREE, achieved record-breaking performance during Amazon's Black Friday & Cyber Monday (BFCM) events. In the EMEA, overall sales tripled, with LANEIGE recording triple-digit growth by diversifying its channel portfolio to include the UK's Boots and ASOS, combined with the positive impact of COSRX integration.

The performance varied across Asian markets during the year. In Greater China, sales declined by 27% due to changes in channel transaction structures. Still, efforts were made to strengthen growth foundations centered on Sulwhasoo and Ryo. In other Asian regions, including APAC and Japan, the company saw a 33% increase in sales, driven by enhanced product competitiveness of Sulwhasoo and LANEIGE, expansion of newly launched HERA and AESTURA, and the effect of COSRX integration.

Major affiliates focused on strengthening product and brand competitiveness while expanding marketing investments to secure growth and profitability. Notably, INNISFREE worked to enhance brand appeal by focusing on the high-efficacy, functional product category but saw decreased sales and reduced operating profit due to channel reorganization. ETUDE grew sales in MBS and online channels by expanding its Gen Z customer base. Still, its overall sales decreased due to offline channel reorganization, and its operating profit declined due to increased marketing investments. espoir achieved sales growth and improved operating profit led by its 'glow makeup' category in MBS channels. amos professional saw sales growth through enhanced product competitiveness and marketing events targeting hair salons, though operating profit decreased due to expanded offline events and increased marketing costs. OSULLOC increased sales through strengthened offline experiential marketing, such as the OSULLOC Garden pop-up, and saw its profitability improved through marketing cost and offline channel optimization.

To achieve sustainable growth and profitability, Amorepacific is pursuing four strategic directions: Brand Competitiveness Enhancement, Global Rebalancing Acceleration, Channel Response Strengthening, and Future Growth Preparation. To enhance brand competitiveness, the company is focusing on the growth of its leading global brands, LANEIGE and COSRX, while also nurturing next-generation global brands, AESTURA and HERA. Simultaneously, the company anticipates fully realizing the effects of rebranding from existing major brands like Sulwhasoo, INNISFREE, and Ryo. To accelerate global rebalancing, the company is intensively developing key strategic markets – the United States, Japan, Europe, India, and the Middle East, while pursuing structural normalization of the Chinese market. For enhanced channel response, the company is actively partnering with global platforms like Amazon while pursuing diversified collaborations with Korean and global multi-brand distribution channels and new growth channels such as the TikTok Shop. The company is also preparing foundations for future growth through customer service innovation and operational productivity enhancement utilizing digital technologies, including AI.

- 2024 Annual Earnings Summary -

[Amorepacific Group] (Unit: KRW 100 million/Growth rate: Year-over-Year)

[Leading Subsidiary: Amorepacific] (Unit: KRW 100 million/Growth rate: Year-over-Year)

[Major Affiliates: INNISFREE, ETUDE, espoir, amos professional, OSULLOC] (Unit: KRW 100 million/Growth rate: Year-over-Year)

[Q4 2024 Earnings Summary] (Unit: KRW 100 million/Growth rate: Year-over-Year)