Amorepacific has acquired additional shares of Cosrx. The fast-growing skincare brand will become a subsidiary of Amorepacific.

In the deal, Amorepacific has acquired the 288,000 remaining shares held by Cosrx's largest shareholder and related parties for 755.1 billion won.

Amorepacific had previously acquired 38.4% of the skin care company's sales in 2021. At that time, it was granted a call option to purchase the remaining shares, which it has now decided to exercise.

With this purchase, Amorepacific is expected to own 93.2% of Cosrx shares.

“We are thrilled that Cosrx, which has shown rapid growth through differentiated products and marketing based on an exceptional understanding of digital channels, has become a part of our group,” said Seunghwan Kim, CEO of Amorepacific Corporation. “Moving forward, we aim to amplify Cosrx's unique strengths while also integrating Amorepacific's vision and business management expertise to develop it into a captivating brand that global customers will love.”

Founded in 2013, Cosrx is a hypoallergenic skincare brand designed for sensitive skin. Centered around the Advanced Snail line and The RX line, it has experienced rapid growth, showing an average annual sales growth rate of over 60% in the past three years. Sales were reported to have hit 204.4 billion won in 2022. This year, in the first half alone, it has achieved 190.2 billion won in sales and 71.7 billion won in operating profit, continuing its sharp growth trend.

The brand has also expanded to approximately 140 countries, including North America, Southeast Asia, Europe, and Japan. Overseas sales account for more than 90% of its total. Since it entered Amazon in 2018, essential products such as the Advanced Snail 96 Mucin Power Essence'have topped the beauty and personal care category, particularly distinguishing itself in the North American market, according to Amorepacific. Additionally, Cosrx has been recognized as a brand with exceptional digital communication capabilities; its TikTok challenge launched in 2022, which saw more than 2.1 billion cumulative hashtag views.

Co-Development of Products

After the equity investment in 2021, both companies co-developed and launched products such as 'he Vitamin C 23 Serum and The Retinol 0.1 Cream. In this vein, Amorepacific says it plans to accelerate its global expansion through multifaceted collaboration with the brand.

Additional Reading

Cosrx's Revenue Rises 138% YoY in First Half of 2023

Amorepacific: No. 14 in Happi's 2023 International Top 30 Report