AmorePacific, 3Q Sales 1.02 Trillion KRW...15.9% Decrease YoY (Update)

[Asia Economy Reporter Moon Hyewon] Amorepacific Group announced on the 31st that it recorded sales of 1.0218 trillion KRW and an operating profit of 33 billion KRW in the third quarter of this year. Compared to the same period last year, sales decreased by 15.9% and operating profit decreased by 36.2%.

During this period, the group's total cosmetics sales amounted to 949.9 billion KRW.

The domestic business recorded sales of 587.1 billion KRW, down 18.6% due to sluggish duty-free channels. Sales in high-profit channels such as duty-free declined, leading to a decrease in operating profit as well. However, pure domestic e-commerce channel cosmetics sales increased by more than 10%.

The overseas business recorded sales of 334.8 billion KRW, down 12.8%, as sales in the Asian region declined due to the slowdown in Chinese consumption. However, in other Asian markets excluding China, major brands such as Sulwhasoo, Laneige, and Innisfree performed well, achieving about 20% sales growth.

Major subsidiaries mostly saw growth in sales and profits due to strengthened brand and product competitiveness and strong online channel sales. Innisfree achieved sales growth and turned to profitability as online sales expanded centered on flagship products such as the ‘Retinol Cica Scar Ampoule.’ Etude's overall sales slightly declined due to withdrawal from the duty-free channel, but operating profit turned positive due to channel mix improvement.

This content was produced with the assistance of AI translation services.