Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Amorepacific’s Innisfree to Exit US Market

Innisfree's green tea seed serum. Innisfree.

The K-beauty giant announced Friday that it will shutter all Innisfree stores in North America beginning Saturday, citing the pandemic, The Korea Times reports.

The affordable beauty brand, which opened its first store in New York in September 2017, will continue to be sold through Sephora outlets. It’s not the only brand under the Amorepacific umbrella that’s struggling: Etude House, another one of the conglomerate’s high street offerings, is facing capital impairment and began shuttering stores after sales peaked in 2014.

The move is consistent with Amorepacific’s stated intention to focus on digital channels over its physical footprint. Last week, the group reported that its first-quarter earnings increased by almost 90 percent year-on-year on the back of online and strong overseas sales growth in markets like China.

In This Article
Topics
Organisations

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Beauty
Insight into the fast-evolving beauty business and lessons for the future of fashion.
view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Awards - Deadline 30 April 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Awards - Deadline 30 April 2024