Washington [US], January 9: Amore Pacific has been named one of the top 100 luxury brands in global sales as the only Korean brand.
According to the "2022 Global Luxury Industry report: A New Wave of Passion" published by Deloitte Korea on the 6th, annual sales of the top 100 global luxury brands were $305 billion (about KRW 388 trillion) last year, up 21.5% from the previous year.
Amore Pacific has newly entered the top 100 list. It is the only Korean company included in the list. Sales of Amore Pacific were $3.731 billion (4.74 trillion won) last year, up 11.6% year-on-year, ranking 19th.
The report said, "Amore Pacific, which newly entered the 19th place, is a leading 'K-beauty' compaby in Korea, and most of its brands are the luxury and premium beauty brands. Korea is the world's third-largest skincare cosmetics exporter after France and the U.S.
Along with Amore Pacific, a total of nine companies, including G-III Apparel Group, Unilever Prestige Beauty, Gerhard D. Wempe GmbH, Aritzia, Soma Fashion Group, Linvin Group, ICCF Group, Manna Coporation Damans International, and Falke, have been newly included in the list.
France's Louis Vuitton Moet Hennessy (LVMH) topped the list with total sales of $75.9 billion, followed by Kering ($20.8 billion), Estee Lauder ($16.2 billion), Chanel ($15.6 billion), and L'Oreal Luxe ($14.6 billion).
Source: Global Economic