Seven Pillars
AmorePacific Group Chairman Suh Kyung-bae has finally pursued his global business strategy called “seven pillar theory.” Marking the 70th anniversary of the founding, Suh announced the theory as the group’s global business expansion strategy last year. It is to expand its business from five regions, including Great China, Southeast Asia, Japan, North America and Western Europe, to seven, adding India and South America.
AmorePacific said on Apr. 18 that it has opened its global online shopping site (www.aritaum.com/en/main.do), which can be used via computers and mobile devices, on the 1st for the first time in eight years after the group launched Aritaum, a total beauty solution store. It includes the group’s all cosmetics brands except for IOPE, Laneige, Mamonde, Hanyul, Odyssey and Sulwhasoo.
The website allows consumers to purchase products in currencies of 27 countries and receive a direct delivery service.
Previously, AmorePacific had operated global shopping websites of Etude and innisfree. The two online shopping platforms delivered products to all over the world but they only accepted the payment in US dollars.
Twenty seven countries, which can use the ARITAUM global online shopping site, includes Chinese-speaking countries – China, Hong Kong, Taiwan, Macao and Singapore –, Southeastern countries – Malaysia, Vietnam and Thailand –, European countries – the U.K., France, Norway, Bulgaria and Spain as well as its new strategic regions – India, the United Arab Emirates and Mexico.
With the opening of its global shopping website, AmorePacific is expected to accelerate the business expansion into the markets of India, South America and Middle East. Currently, the group has sent out its market research group called “Haecho” to the South American market in order to push into the markets of Brazil, the largest market in South America, Venezuela and Chile.