AmorePacific Group, the biggest skincare and cosmetics company in terms of sales in South Korea, is accelerating its expansion in Taiwan this year, focusing on boosting its organic skincare and cosmetics brand, Innisfree, in Taipei.
The group on Friday launched its second outlet in Taiwan under the Innisfree brand, in Taipei’s east district shopping zone, with the group investing about NT$10 million (US$332,780).
The new store is the brand’s flagship outlet in Taiwan, opened about two months after the group opened its first Innisfree outlet in the nation.
“The sales performance of the first outlet has been stronger than expected, leading the group to speed up its expansion in Taiwan,” the brand said in a statement on Thursday.
Innisfree saw daily sales at its first outlet average between NT$180,000 and NT$250,000 over the past two months, 50 percent higher than the parent company had expectated, the statement said.
SECOND BEST
The average was the second-highest average sales per unit area among the brand’s nearly 1,000 outlets globally, it said.
Average customer spending was between NT$800 and NT$1,000, which translates to three or four products purchased by each customer, the statement said.
The group expects the brand’s total sales in Taiwan to double or triple from current levels following the launch of the flagship store.
In addition, AmorePacific is set to open the brand’s third Innisfree outlet in the nation by the end of this year in Taipei, with an aim to make Innisfree the biggest South Korean skincare and cosmetics brand in Taiwan in terms of market share.
Innisfree made NT$9.5 billion in revenue last year, accounting for about 7 percent of the overall sales AmorePacific made, company data showed.
AmorePacific aims to grow Innisfree revenue by 47 percent this year to NT$14 billion, as it plans to launch a total of 60 new outlets outside South Korea, including in Taiwan, China, Hong Kong and Singapore.
Currently, overseas sales account for about 20 percent of overall revenue, according to company statistics.
1989 ENTRY
AmorePacific made its entry in Taiwan in 1989 selling products through a joint venture under two brands — Laneige and Iope. Iope is a cosmeceutical brand that targets customers in their mid-20s to mid-30s.
As a result of Laneige’s great success, the group established a separate, wholly owned subsidiary in Taiwan in 2004 and introduced various brands in the market in succession, including a herbal medicinal brand, Sulwhasoo.
Laneige currently operates 22 counters in major department stores in the nation, including Shin Kong Mitsukoshi Department Store Co (新光三越百貨), Pacific Sogo Department Stores Co (太平洋崇光百貨) and Far Eastern Department Stores (遠東百貨).
The Sulwhasoon brand has three counters nationwide.
This story has been updated on June 3 since it was first published.
SEMICONDUCTORS: The German laser and plasma generator company will expand its local services as its specialized offerings support Taiwan’s semiconductor industries Trumpf SE + Co KG, a global leader in supplying laser technology and plasma generators used in chip production, is expanding its investments in Taiwan in an effort to deeply integrate into the global semiconductor supply chain in the pursuit of growth. The company, headquartered in Ditzingen, Germany, has invested significantly in a newly inaugurated regional technical center for plasma generators in Taoyuan, its latest expansion in Taiwan after being engaged in various industries for more than 25 years. The center, the first of its kind Trumpf built outside Germany, aims to serve customers from Taiwan, Japan, Southeast Asia and South Korea,
Gasoline and diesel prices at domestic fuel stations are to fall NT$0.2 per liter this week, down for a second consecutive week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to drop to NT$26.4, NT$27.9 and NT$29.9 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to fall to NT$24.8 per liter at CPC stations and NT$24.6 at Formosa pumps, they said. The price adjustments came even as international crude oil prices rose last week, as traders
SIZE MATTERS: TSMC started phasing out 8-inch wafer production last year, while Samsung is more aggressively retiring 8-inch capacity, TrendForce said Chipmakers are expected to raise prices of 8-inch wafers by up to 20 percent this year on concern over supply constraints as major contract chipmakers Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and Samsung Electronics Co gradually retire less advanced wafer capacity, TrendForce Corp (集邦科技) said yesterday. It is the first significant across-the-board price hike since a global semiconductor correction in 2023, the Taipei-based market researcher said in a report. Global 8-inch wafer capacity slid 0.3 percent year-on-year last year, although 8-inch wafer prices still hovered at relatively stable levels throughout the year, TrendForce said. The downward trend is expected to continue this year,
POWERING UP: PSUs for AI servers made up about 50% of Delta’s total server PSU revenue during the first three quarters of last year, the company said Power supply and electronic components maker Delta Electronics Inc (台達電) reported record-high revenue of NT$161.61 billion (US$5.11 billion) for last quarter and said it remains positive about this quarter. Last quarter’s figure was up 7.6 percent from the previous quarter and 41.51 percent higher than a year earlier, and largely in line with Yuanta Securities Investment Consulting Co’s (元大投顧) forecast of NT$160 billion. Delta’s annual revenue last year rose 31.76 percent year-on-year to NT$554.89 billion, also a record high for the company. Its strong performance reflected continued demand for high-performance power solutions and advanced liquid-cooling products used in artificial intelligence (AI) data centers,
RSS