Automotive, Consumer Staples Jan 02, 2022 10:18 AM (GMT+8) · EqualOcean
On January 2, according to a number of media reports, Innisfree, a cosmetics brand under amorepacific Corporation, a Korean cosmetics giant, was said to be "withdrawn" in the Chinese market - from more than 800 to only 140, more than 600 stores were withdrawn, with a withdrawal rate of more than 80%. For the news of this store closure, according to interviews with financial world and other media, the relevant person in charge of amore Pacific said that the group is optimizing the channel of yueshifengyin brand, and such store adjustment will continue in 2022. The person in charge also said that amore Pacific Group will make a new round of strategic adjustment for the Chinese market, but only optimize and reduce yueshifengyin stores and do not involve other brands.
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