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Amorepacific expands into Mexican beauty market with Laneige brand

Collected: 2023.09.12

Distributed: 2023.09.13

Source: Go Direct

Laneige main products. [Courtesy of Amorepacific]

South Korean beauty giant Amorepacific is debuting in the Mexican market with its functional beauty brand Laneige. The company aims to diversify its markets as it enters Latin American markets, seeking to recover from a decline in revenue in markets, particularly in China.

On Monday, Amorepacific announced that it has started selling more than 20 Laneige products through global beauty retailer Sephora’s e-commerce channel in Mexico since September 8. Laneige products will also be available in 36 Sephora brick and mortar stores across Mexico from September 22 onwards.

Amorepacific has also been expanding its operations in the North American market. Thanks to the performance of core brands including Sulwhasoo and Laneige, the company saw a remarkable 105 percent growth in North American sales in the second quarter compared to a year ago. Laneige products such as the Lip Sleeping Mask have been driving strong sales growth in the North American market, and Mexico is expected to absorb these trends early on.

“Laneige is expected to provide the highest satisfaction to Mexican consumers in their 20s and 30s, who are sensitive to trends and have a strong demand for skincare,” a company official said.

According to KOTRA data, Mexico’s beauty market ranks 13th globally and second in Central and South America. Mexico is known for its high beauty consciousness, where a whopping 96 percent of the population are cosmetics consumers. The beauty and personal care market in Latin America is estimated to be nearly $45 billion in size.

By Chung Seul-gi and Minu Kim

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