Korean skincare and makeup brand Laneige, part of Amorepacific Group, is set to expand its footprint in the Middle East.
Laneige has made its first foray into the Middle East, through a partnership with Sephora. Laneige’s flagship products are now available in Sephora stores across the UAE and other four GCC countries – Saudi Arabia, Kuwait, Qatar and Bahrain.
This month, the Sephora store at The Dubai Mall in the UAE will aim to drive brand awareness with special in-store marketing.
Chief strategy officer at Amorepacific Group, Jinpyo Lee, said: “As the demand for Korean beauty products in the European market has increased in recent years, our sales in Europe grew by more than 90 per cent year-on-year in Q1 2023.”
The move follows Amorepacific’s North American expansion, where since last year, it has gained prominence with its Laneige, Sulwhasoo and Innisfree brands.
”Amorepacific will continue to actively expand customer contact points in various global markets and grow into a global beauty company that helps individuals discover their unique healthy beauty,” said Mr Lee.
Founded in 1945 by Suh Sung-whan and currently managed by Suh Kyung-bae, the firm is the second-largest cosmetics company in South Korea and one of the 10 largest cosmetics companies in the world.
According to ResearchAndMarkets.com, the global Korean beauty market known as ‘K-beauty’ was valued at $9.3 billion in 2018 and was projected to reach $21.8 billion by 2026, registering a compound annual growth rate of 11.3 per cent from 2019 to 2026.
