South Korean cosmetics giant Amorepacific is ramping up its Asean expansion, opening the first Innisfree and Laneige Philippines stores. Amorepacific established Amorepacific Philippines in Metro Manila in August and has since opened the first Innisfree store, in Manila’s SM Mall of Asia.
This week the company opened its first Laneige Philippines store, at SM Makati Department Store.
Laneige has also launched on the nation’s largest e-commerce channels in the Philippines including Lazada.
The upmarket Laneige brand will expand through both online and offline channels through next year, Amorepacific said in a statement.
The company says the Philippines offers great growth potential, with its population of more than 107 million. It is particularly targeting the premium beauty market which is growing quickly there, along with the broader popularity of K-beauty.
“By expanding into this promising market, Amorepacific aims to strengthen its presence in the Asean region, which is one of the important strategic business regions for the company,” the statement said.
Amorepacific has already launched in Singapore, Malaysia, Thailand, Vietnam and Indonesia.
“We are glad to finally make our way into the Philippines market and respond to its increasing need for our brands,” said Robin Na, head of Amorepacific Asean regional headquarters. “Through our differentiated, innovative products and premium brands, we will spread Asian beauty across the Philippines and satisfy the local customers.”