Why K-beauty king Amorepacific is doubling down on India

In an interview MintAmoPacific India General Manager and Country President Paul Lee said that the company has been investing here since 2012 and plans to promote more products and even think of local production.

“Amorepific identified India as a strategic basic market… We are proud to make a completely involvement in India – not recently, not recently, reflecting our deep belief in its market potential ten years ago.” “In the future, we will continue to lead the expansion of the beauty of K in India through our registered technology, differentiated product offers and local marketing strategies.”

According to Lee, the company plans to introduce more of its 30 global brands to India – essentially sells five – and plans to develop products suitable for Indian tones.

Amorepacific sells its products online after a shift, where the company closes its independent stores for brands such as Innisfree and focuses on e-commerce channels and its own brand websites. At the summit, he operated 23 stores in India. However, it continues to sell through multi -brand beauty stores.

K-beauty brands have seen a popular explosion in India due to the demand for products that offer benefits such as “glass skin” and spot correction treatments.

According to the latest research by beauty retailer Kindlife and Datum Intelligence, India’s beauty and personal care market is expected to reach 45 billion dollars by 2030. K-Beauty stands out as a rupture segment, which is estimated to grow by 25.9% by 25.9% from $ 0.4 billion to 2030 in 2024.

Lee said that the demand for Korean beauty products in India is far from being saturated and that brands have found more new shopping in the cities of the level-II and Level-III.

Online retailer Myntra, 50% of the demand of the Tier-II and Tier-III cities, especially for Korean beauty products, he said. “We see about 54% growth in customers without Metros for international beauty brands, 250-300% for Korean beauty,” Myntra’s Chief Operation Officer, Myntra, said.

Online platforms such as Nykaa continue to launch more Korean brands such as Viral Tirir makeup brand, Numbuzin and Axis-Y.

Lee pointed out that India is one of the fastest growing markets for the group with 40-60% growth rates in the last five years. “In the last two years, we have been able to double our business in the last two years, and also from multi-branded retail stores. We see India as a long-term opportunity without signs of saturation.”

In 2024, the South Korean beauty giant globally reported $ 3.48 billion in revenue. Founded by Kyungbae Suh in 1945, the company has a portfolio covering cosmetics, perfumes, beauty devices, hair care and body care. The best brands include Sulwhasoo, Iope, Aestura and Ayunche.

Companies like Amorepacific were able to increase the demand for their brands by starting more affordable trial packages. For example, the best -selling Laneige lip sells a 8 GM package of the sleeping mask. LaUsable for 600, 20 GM version La1.420.

This also helped to increase the demand from small towns in India.

“Previously, the demand was focused on metro cities or the best 5-10 cities. However, with advanced digital access, demand expanded to the Cities of Tier-II and Level-III, Lee Lee said, Most of the new products, most new products will be able to have a smaller size packages to make the consumers more accessible to consumers in these areas.

The company competes with LG Household and health services that sell personal care brands such as The Face Shop.

Lee said he could bring more global brands to India. Lee said, ız We have more than 30 brands in the group and we are currently operating in India. We are also planning to start more products-specific products-Buns are actively prepared and are in the process of internal plan. Yes, there will be more products in India.

Lee said the group reviewed local production. “In the early stages, but yes, the demand for ‘Made’ product in Korea ‘is absolutely there – this is something we need to think very carefully as a group,” he said.

The third opinion founder and CEO Devangshu Dutta said that there is a wave of demand for Korea food, content and beauty products.

“This is the cultural expansion of everything that is globally, not limited to India,” Dutta said. “Given our population and income profile, there is a place for brands to appeal to different segments and the market to expand the market.”

Dutta added that this expansion would eat to market shares of players in the task.

The demand for any Korean has also directed companies grown at home to offer products that mimic the benefits of Korean products. Mint Previously, Indian personal care companies, such as Sugar Cosmetics and Hacim, have also reported that there were more K beauty products in line with such trends.