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Amorepacific Closing Etude House Stores in Singapore and Hera Stores in China

Amorepacific's Etude House store
Amorepacific's Etude House will close its last stores in Singapore. (Etude House)
By
  • Khanh Linh

The South Korean beauty conglomerate has closed the last brick-and-mortar outlet of its Hera brand in China this week, and will close its WeChat mini-programme in mid-March, local media reports. The company’s last Etude House store in Singapore will close this Friday.

The Chinese move came after the brand shut down self-operated stores on JD.com and Vipshop at the end of last year. Hera, however, will remain trading online via its Tmall official flagship store.

Hera entered the China market in 2016 with its first store opened at the upscale department store Shin Kong Place in Beijing. Five years after its launch, the company changed from active expansion to a conservative strategy of channel contraction.

Hera’s removal of physical presence in China follows sister retail brand Etude House’s withdrawal of brick-and-mortar stores in the country last year. The Amorepacific-owned beauty brand this week said it would shut its last brick-and-mortar store in Singapore this Friday. However, Etude House will continue to sell its products online via its own website and on local marketplace platforms Shopee, Lazada and Zalora.

Launched in Singapore in 2009, Etude House at one point had 16 stores trading across Singapore, including its largest global flagship at Wisma Atria.

According to The Korea Times, Etude House has been accumulating losses for years and last year its financial position deteriorated with liabilities of $47.2 million exceeding its assets worth $41.6 million.

Learn more:

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