Recently Amorepacific and LG Household & Health Care, the top 2 players in cosmetics businesses, has been in a fierce competition not only in the Korean market but also in markets overseas. The two rival companies, which are representative cosmetics companies in Korea, are vying to make inroads into...
Recently Amorepacific and LG Household & Health Care, the top 2 players in cosmetics businesses, has been in a fierce competition not only in the Korean market but also in markets overseas. The two rival companies, which are representative cosmetics companies in Korea, are vying to make inroads into global cosmetics markets with their strong brand power grown in their domestic market, thereby developing companies’ future vision for their businesses. As the two companies have strategies to strengthen their goals to target global cosmetics markets where China takes a big part, they are aggressively competing with each other to prevail in the Chinese cosmetics market as if it’s their second domestic market. Amorepacific and LG Household & Health Care are rapidly growing in the Chinese and South-Eastern Asian markets with its own premium brands such as ‘Sulwhasoo’ and ‘The History of Whoo,’ while they are increasing their revenues by strengthening their customer relationship through their business structures highly tailored to their customers and optimizing the process of managing franchise network. They are also maximizing their business capabilities by efficiently managing their companies (i.e. restructuring) in order to proactively respond to uncertainties in the market such as the global recession and rapidly changing retail paradigm in cosmetics.
In particular, Amorepacific is stepping up the efforts to target the global cosmetics market with its 5 global champion brands, Sulwhasoo, Laneige, Mamonde, Etude House and Innisfree, and it aims to shape market conditions for its next global brand, making it its global growth engine going forward. Amorepacific is solidifying its ground in advanced countries as well as in Asia to include China and ASEAN countries. At the same time, it is strengthening its businesses on megacities with population of 10 million or over and exploring new markets, looking for new opportunities. Moreover, it is committed to lead the era of revolution in the beauty industry through enhancing communication with customers via mobile devices and applying differentiated marketing strategies to O2O (Online To Offline), where online and offline markets can co-exist and upgrade customers’ buying experience, and Omnichannel, respectively.
LG Household & Health Care strives to catch up with the top player in the market share by paving the way into the cosmetics industry in and outside of Korea with its premium brands. In particular, it has a strategy to expand its international businesses centering around the Greater China Region by focusing premium cosmetics and household product brands. It is expected to strengthen personal care business and cosmetics brands such as the luxury brand, ‘The History Of Whoo,’ which has been a hit to Chinese tourists in Korean duty-free shops. It’ll also maintain its growth momentum in the Greater China Region as well as other international markets with its more competitive luxury brands such as ‘SU:M37’ and ‘belif.’ It is projected to push forward with its strategy focusing on the international markets by stepping up its efforts to make inroads into the Chinese cosmetics market with its premium personal care business where there is a great potential.
Amorepacific, based on its state-of-the-art cosmetics production technology, is expected to achieve a tremendous growth in China and other Asian regions. As the Chinese cosmetics customers get younger and their channels of buying cosmetics are digitalized, it is estimated that the number of Amorepacific shops in China will also grow rapidly. LG Household & Health Care is expected to gradually grow in its sales, as its sales revenue in duty-free shops is estimated to tremendously increase every year, ‘The History of Whoo’ is expected to maintain its popularity, and LG is projected to strengthen its VIP marketing strategy as ‘The History of Whoo’ being one of the representative oriental, royal court cosmetics brands of Korean wave. LG Household & Health Care has bulked up through mergers and acquisitions of other cosmetics brands, while Amorepacific has led the Korean cosmetics market and appealed to its customers with its luxury cosmetics brands. Therefore, we’ll have to see what results will come out regarding the two companies in the future.
Recently Amorepacific and LG Household & Health Care, the top 2 players in cosmetics businesses, has been in a fierce competition not only in the Korean market but also in markets overseas. The two rival companies, which are representative cosmetics companies in Korea, are vying to make inroads into global cosmetics markets with their strong brand power grown in their domestic market, thereby developing companies’ future vision for their businesses. As the two companies have strategies to strengthen their goals to target global cosmetics markets where China takes a big part, they are aggressively competing with each other to prevail in the Chinese cosmetics market as if it’s their second domestic market. Amorepacific and LG Household & Health Care are rapidly growing in the Chinese and South-Eastern Asian markets with its own premium brands such as ‘Sulwhasoo’ and ‘The History of Whoo,’ while they are increasing their revenues by strengthening their customer relationship through their business structures highly tailored to their customers and optimizing the process of managing franchise network. They are also maximizing their business capabilities by efficiently managing their companies (i.e. restructuring) in order to proactively respond to uncertainties in the market such as the global recession and rapidly changing retail paradigm in cosmetics.
In particular, Amorepacific is stepping up the efforts to target the global cosmetics market with its 5 global champion brands, Sulwhasoo, Laneige, Mamonde, Etude House and Innisfree, and it aims to shape market conditions for its next global brand, making it its global growth engine going forward. Amorepacific is solidifying its ground in advanced countries as well as in Asia to include China and ASEAN countries. At the same time, it is strengthening its businesses on megacities with population of 10 million or over and exploring new markets, looking for new opportunities. Moreover, it is committed to lead the era of revolution in the beauty industry through enhancing communication with customers via mobile devices and applying differentiated marketing strategies to O2O (Online To Offline), where online and offline markets can co-exist and upgrade customers’ buying experience, and Omnichannel, respectively.
LG Household & Health Care strives to catch up with the top player in the market share by paving the way into the cosmetics industry in and outside of Korea with its premium brands. In particular, it has a strategy to expand its international businesses centering around the Greater China Region by focusing premium cosmetics and household product brands. It is expected to strengthen personal care business and cosmetics brands such as the luxury brand, ‘The History Of Whoo,’ which has been a hit to Chinese tourists in Korean duty-free shops. It’ll also maintain its growth momentum in the Greater China Region as well as other international markets with its more competitive luxury brands such as ‘SU:M37’ and ‘belif.’ It is projected to push forward with its strategy focusing on the international markets by stepping up its efforts to make inroads into the Chinese cosmetics market with its premium personal care business where there is a great potential.
Amorepacific, based on its state-of-the-art cosmetics production technology, is expected to achieve a tremendous growth in China and other Asian regions. As the Chinese cosmetics customers get younger and their channels of buying cosmetics are digitalized, it is estimated that the number of Amorepacific shops in China will also grow rapidly. LG Household & Health Care is expected to gradually grow in its sales, as its sales revenue in duty-free shops is estimated to tremendously increase every year, ‘The History of Whoo’ is expected to maintain its popularity, and LG is projected to strengthen its VIP marketing strategy as ‘The History of Whoo’ being one of the representative oriental, royal court cosmetics brands of Korean wave. LG Household & Health Care has bulked up through mergers and acquisitions of other cosmetics brands, while Amorepacific has led the Korean cosmetics market and appealed to its customers with its luxury cosmetics brands. Therefore, we’ll have to see what results will come out regarding the two companies in the future.
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#AMOREPACIFIC CORPORATION Aritaum Mamonde LANEIGE IOPE Lolita Lempicka HERA innisfree ?TUDE HOUSE RYOE international marketing marketing strategy
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