Cosmetics (K-beauty) · China-to-Americas pivot
Amorepacific
Amorepacific is Korea's largest cosmetics company, owner of Sulwhasoo, Laneige, Innisfree and Hera. Its earnings collapsed in 2021 to 2023 on China's slowdown and the informal Korean-content ban, then re-based in 2024 when the Americas overtook Greater China as its largest market for the first time. In 2025 Greater China swung back to profit while the Americas and EMEA grew double digits, delivering the highest operating profit in six years.
Business categories Apparel, Luxury & Beauty · Consumer Brands & Commerce · primary
090430.KS Updated Jul 12, 2026 6 AI consumers· 4 recurring
Per the valuechain.wiki graph, Amorepacific is directly linked to 2 companies (0 supply, 2 revenue relationships) and reaches 42 companies within two hops; the links are backed by 4 dated sources, 1 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · FY2025 consolidated revenue KRW 4.25T (+9.5%), operating profit KRW 335.8B (+52% vs 220.5B), a six-year high. Group (002790) revenue of KRW 4.62T is separate.
- Customer concentration · Re-rates on China consumption recovery plus US K-beauty momentum (Laneige, COSRX), decoupled from the AI cycle.
- Segments · Luxury · Premium & global · Americas · Greater China
Revenue from
- 중화권·미주·EMEA 해외 소비자 High confidence· Revenue 4.25조원 · FY2025 · consolidated revenue
Revenue by region: Americas (+83% 2024, +20% 2025), Greater China (-27% 2024 to profit in 2025), EMEA (+42% 2025). Overseas is the growth engine. - Amazon High confidence
Laneige is a top beauty seller on Amazon US (Lip Sleeping Mask 34,000+ five-star reviews; Glowy Lip Balm a #1 category bestseller), a Prime Day mainstay and the channel behind the Americas becoming its largest market. - Coupang High confidence
Runs an official Amorepacific brand store on Coupang, selling Illiyoon, Labo-H, Mise-en-scene, Ryo and Happy Bath directly; a core domestic e-commerce channel.
Pays to
- 원료·부자재 (비공개) Medium confidence
Cosmetic ingredients and packaging inputs (individual suppliers undisclosed). - 마케팅·광고·유통 (비공개) Medium confidence
Heavy advertising, sales commissions and distribution costs.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| CrowdStrike | lead2 | -3.3 | -48.6 | +142.5 | +34 | +37 | +134.7 |
| Palo Alto Networks | lead2 | +56.7 | -24.8 | +111.3 | +23.4 | +1.2 | +127.4 |
| Datadog | lead2 | +80.9 | -58.7 | +65.1 | +17.7 | -4.8 | +115.6 |
| Snowflake | lead2 | +20.4 | -57.6 | +38.6 | -22.4 | +42.1 | +68.2 |
| Illumina | lead2 | +2.8 | -46.9 | -31.1 | -1.3 | -1.8 | +66.4 |
| Schrodinger | lead2 | -56 | -46.3 | +91.5 | -46.1 | -7.3 | +52.6 |
| Schlumberger | lead2 | +39.6 | +81.2 | -0.8 | -24.5 | +3.3 | +52.3 |
| Airbnb Inc | lead2 | · | -48.6 | +59.2 | -3.5 | +3.3 | +34.1 |
| Labcorp Holdings Inc. | lead2 | +54.4 | -24.4 | +13.8 | +2.2 | +10.6 | +25.3 |
| Becton, Dickinson and Company | lead2 | +1.9 | +5.1 | -2.7 | -5.4 | -12.6 | +22.8 |
| Live Nation Entertainment, Inc. | lead2 | +62.9 | -41.7 | +34.2 | +38.4 | +10 | +21.8 |
| Carrier Global Corporation | lead2 | +45.3 | -22.7 | +41.5 | +20.3 | -21.8 | +14.3 |
| Waters Corporation | lead2 | +50.6 | -8.1 | -3.9 | +12.7 | +2.4 | +14.2 |
| Rockwell Automation, Inc. | lead2 | +41.2 | -24.8 | +22.6 | -6.2 | +38.4 | +12.3 |
| Agilent Technologies, Inc. | lead2 | +35.5 | -5.5 | -6.4 | -2.7 | +1.9 | +11.5 |
| Automatic Data Processing, Inc. | lead2 | +42.6 | -1.3 | -0.2 | +28.4 | -10.2 | +9.6 |
| Hilton Worldwide Holdings Inc. | lead2 | +40.2 | -18.7 | +44.7 | +36.1 | +16.5 | +8.5 |
| 3M Company | lead2 | +4.9 | -29.6 | -3.3 | +46.1 | +26.4 | +6.8 |
| Expedia Group, Inc. | lead2 | +36.5 | -51.5 | +73.3 | +22.8 | +53.3 | +5.8 |
| Hubbell Incorporated | lead2 | +35.6 | +15.1 | +42.4 | +28.9 | +7.4 | +4.7 |
| MercadoLibre, Inc. | lead2 | -19.5 | -37.2 | +85.7 | +8.2 | +18.5 | -1.8 |
| DoorDash, Inc. | lead2 | · | -67.2 | +102.6 | +69.6 | +35 | -6.5 |
| The Walt Disney Company | lead2 | -14.5 | -43.9 | +4.3 | +24.4 | +3.3 | -6.7 |
| Uber | lead2 | -17.8 | -41 | +149 | -2 | +35.5 | -7.3 |
| Roper Technologies | lead2 | +14.7 | -11.6 | +26.9 | -4.1 | -13.8 | -7.9 |
| Workday, Inc. | lead2 | +14 | -38.7 | +65 | -6.5 | -16.8 | -8.8 |
| Axon Enterprise, Inc. | lead2 | +28.1 | +5.7 | +55.7 | +130.1 | -4.4 | -9.2 |
| Constellation Brands, Inc. | lead2 | +16.1 | -6.4 | +5.8 | -7.1 | -36 | -9.2 |
| Salesforce, Inc. | lead2 | +14.2 | -47.8 | +98.5 | +27.8 | -20.2 | -12.9 |
| GE HealthCare Technologies Inc. | lead2 | · | · | · | +1.3 | +5.1 | -15.9 |
| Netflix | lead2 | +11.4 | -51.1 | +65.1 | +83.1 | +5.2 | -16.5 |
| Stryker Corporation | lead2 | +10.2 | -7.4 | +23.8 | +21.3 | -1.5 | -20.4 |
| IDEXX Laboratories, Inc. | lead2 | +31.7 | -38 | +36.1 | -25.5 | +63.6 | -20.9 |
| Comcast Corporation | lead2 | -2.2 | -28.7 | +29.1 | -11.8 | -17.3 | -22.3 |
| Adobe Inc. | lead2 | +13.4 | -40.7 | +77.3 | -25.5 | -21.3 | -23.9 |
| Autodesk, Inc. | lead2 | -7.9 | -33.5 | +30.3 | +21.4 | +0.1 | -26.4 |
| Coupang | lead2 | · | -49.9 | +10.1 | +35.8 | +7.3 | -35.2 |
| Fair Isaac Corporation | lead2 | -15.1 | +38 | +94.5 | +71 | -15.1 | -44.9 |
| Intuit Inc. | lead2 | +70.3 | -39.1 | +61.8 | +1.2 | +6.1 | -53.7 |
| Corteva, Inc. | lead2 | +23.6 | +25.6 | -17.5 | +20.2 | +18.9 | -80.1 |
| Amazon | lead1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Amorepacific | node | -30.1 | -5.7 | -18.4 | +9.9 | +8.2 | -1.2 |
YTD as of 2026-10-08 · source: Yahoo Finance
Amorepacific operates across KOSPI, Cosmetics (K-beauty), China-to-America pivot. It is +4.1% in 2026. The stock (+4.1%) and its demand side (avg -11.6%) are moving in step. Among connected nodes the furthest ahead is Amazon (+12%) and the furthest behind is Coupang (-35.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. In 2025 Greater China swung back to profit while the Americas and EMEA grew double digits, delivering the highest operating profit in six years.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target ₩178,333 · Price ₩135,900 (10-08) · Upside +31%
Analyses covering this node
- Consumption does not run on one clock: staples, discretionary, luxury diverge Jul 5, 2026
- Clocks that haven't run and clocks that ran hardest Jul 5, 2026
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