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The base of Amore Pacific Group in Jiading district [Photo/jiading.gov.cn] |
Amore Pacific Group, the largest cosmetics maker in South Korea, announced the opening of a new base in Shanghai’s Jiading district on Oct 21.
The base, located in the district’s Malu town, covers an area of over 92,000 square meters with a total investment of 750 million yuan ($122 million). It has about 10 times the annual production capacity of its former factory in Shanghai. The base is also the group’s largest base outside South Korea that combines the functions of production, research and development, and logistics.
“Amore Pacific has seen the huge potential of the Chinese market from very early on. The base will be a symbol for our group to accelerate the pace of our China strategy. The strong production capacity, excellent R&D ability and efficient logistics system will help us produce more products suited to the Chinese market,” said Suh Kyung-bae, president and chief executive officer of the company.
Amore Pacific first entered the Chinese market in the 1990s. The popularity of South Korean television shows in China has helped South Korean makeup bands beat their global rivals in the country. For the last decade, Amore Pacific’s average sales growth in China was 47 percent.