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Amorepacific shifts China strategy as sales decline

South Korean beauty and cosmetics conglomerate Amorepacific Group, the parent company of Laneige, is optimizing and adjusting its market strategy for its brands in China. Responding to reports that Laneige plans to withdraw from offline channels in China by the end of 2024, Amorepacific clarified that Laneige is not exiting but is optimizing its offline presence while exploring new business models, accelerating digital transformation, and strengthening its e-commerce platform presence. Other brands under Amorepacific, such as Sulwhasoo, Innisfree, and Mamonde, have also faced sales pressure in recent years in the Chinese market. Data shows that the group’s sales in Greater China experienced YoY declines for three consecutive quarters in the first three quarters of 2024.

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