Amorepacific Group 2023 Revenue Falls 10.5 Percent and Operating Profit Drops 44 Percent
Amorepacific Group reported 2023 revenue of 4.02 trillion won, down 10.5 percent from a year earlier, and operating profit of 152 billion won, down 44.1 percent, according to a regulatory filing on January 30, 2024.
Net profit for the year rose 57.3 percent to 234.7 billion won.
Amorepacific Group, the holding company of South Korea's largest cosmetics maker, owns Amorepacific Corp. and brands including Sulwhasoo, Laneige, Innisfree and Etude. In October 2023 Amorepacific agreed to raise its stake in skincare brand COSRX to about 93 percent, making it a subsidiary.
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