Amorepacific Group 2024 Operating Profit Jumps 64 Percent as Americas Overtakes China

Amorepacific Group reported 2024 sales of 4.2599 trillion won, up 5.9 percent from 4.0213 trillion won in 2023, and operating profit of 249.3 billion won, up 64.0 percent.

The group said the Americas surpassed Greater China in annual sales for the first time in its history. COSRX, consolidated from the second quarter of 2024, contributed to overseas growth, particularly in Europe, the Middle East and Africa.

Leading subsidiary Amorepacific posted sales of 3.8851 trillion won, up 5.7 percent, and operating profit of 220.5 billion won, up 103.8 percent. Its Korean business sales fell 2.4 percent to 2.1570 trillion won as duty-free sales continued to decline, while its global business grew 20.6 percent to 1.6789 trillion won and turned to an operating profit. Sales rose 83 percent in the Americas and tripled in EMEA, while Greater China fell 27 percent.

Among affiliates, Innisfree sales dropped 18.0 percent and Etude 2.9 percent. Fourth-quarter group sales rose 15.9 percent to 1.1794 trillion won and operating profit rose 164.7 percent to 79.0 billion won.