Group will launch its better-priced range Innisfree with a flagship store in Manhattan in 2017, according to Money Today on Oct. 24.
Actor Lee Min-ho attending the opening ceremony for Innisfree`s Shanghai flagship store in 2015. Innisfree
The South Korean beauty giant is looking for a site for the store slated to open as early as the first half next year, and will open multiple outlets across the US, where it already has four brands Amore Pacific, Sulhwasoo, Laneige and Annick Goutal. It first entered the US market with Amore Pacific in 2003, and in 2015, the prestigious range posted 49.5 billion won (US$43.58 million) revenue.
This is first time in three years the cosmetics group is rolling out a new brand in the US, and chose 11-year-old Innisfree, which is poised to become the group’s second brand next to Sulhwasoo to record a 1 trillion won annual sales.
By Hwang You-mee (email@example.com