IRKOM Brief

After growing into one of Korea's leading cosmetics brands, Amorepacific made it big in the world market in the mid-2010s. However, it suffered negative growth for several years after 2020 due to the COVID-19 pandemic and its sluggish performance in the Chinese market, with its revenue and operating income in 2023 dropping by 34% and 75%, respectively, compared to 2019. Amorepacific has been taking a broad range of strategic measures to get out of the downturn, attracting attention from the market to see if it will successfully rebound and achieve stronger growth. There have been numerous studies addressing Amorepacific's success before 2019, but few studies have been conducted on the subsequent slump or the efforts and changes made to rebound since then. This study comprehensively examines Amorepacific's growth, ups, downs, and rebounds over the years. By analyzing the short-term and long-term effects and side effects of the market strategies implemented by the company in the course of its growth and closely examining the process of overcoming crises, this project intends to propose implications for future growth.