Cosmetics exports to China surge 250%

AmorePacific’s high-end Sulwhasoo store at the Parkson Department Store in Shanghai. / Courtesy of Amore Pacific

By Lee Hyo-sik

Sales of skincare and other cosmetics in China have surged more than 250 percent this year, reflecting the increasing popularity of Korean products there.

Sales are expected to keep rising because of the popularity of “hallyu,” the Korean pop culture sweeping the world’s fastest-growing consumer market.

According to the Korean International Trade Association, Monday, AmorePacific and other local cosmetics makers exported goods worth a combined $370.8 million to China in the first seven months of the year, up 250.6 percent from the same period last year.

The figure makes Korea the second-largest exporter to China after France, which shipped cosmetics products valued at $513 million to the world’s second-largest economy from January through July.

Korean companies accounted for 22.1 percent of China’s imported cosmetics, up from 9.8 percent the previous year, closing a gap with their French rivals whose combined market share was 30.6 percent.

Japan was third with $265 million, followed by the United States with $194 million.

In the first seven months of the year, China’s imports of foreign cosmetics products rose 36.1 percent to $1.67 billion.

Sales of products from Amore Pacific, the country’s largest cosmetics maker, have soared in recent years on the back of aggressive marketing and a wide range of beauty products tailored to Chinese consumers.

The Face Shop and other mid-end brands have also boosted sales by targeting young consumers seeking to imitate the makeup and fashion styles of hallyu stars who appear in TV dramas and movies.

“We are enjoying brisk sales in China as more consumers become conscious about their appearance amid the rising standard of living,” an AmorePacific spokeswoman said. “Korean beauty products are perceived as high quality and safe, which greatly helps us do business on the mainland.”

The company reaps substantial benefits from hiring several hallyu stars as brand models, the spokeswoman said, adding that sales are expected to keep growing for the foreseeable future.

“There is still huge growth potential for skincare and other beauty products in China,” she said. “We will continue to introduce aggressive marketing and capitalize on the popularity of Korean pop culture there.”

AmorePacific has a research center and a factory making mostly skincare products in Shanghai. The company generated 467 billion won in sales in China last year.