Suh Kyung-Bae
Chairman, Amorepacific
REAL TIME NET WORTH — as of 4/19/17
$7.3 B
Continuing to ride global interest in all things Korean, Suh Kyung-Bae, the chairman of cosmetics giant AmorePacific, promises to nearly triple sales to $10.7 billion by 2020 and is expanding to the Middle East with its first shop in Dubai slated to open in mid 2017. In China its Innisfree brand opened its 200th shop in December 2015. The empire has been riding several powerful waves: public interest in environmentally friendly products formulated from natural ingredients; the rising purchasing power and mobility of Chinese consumers; and the “K-beauty” phenomenon — the global interest in Korean beauty products and techniques fueled by the surging popularity of Korean pop (“K-pop”) media content. Suh is an avid art collector — AmorePacific headquarters in Seoul is filled with pop art pieces.
Suh is the chairman of Amorepacific Group, the largest beauty company in South Korea. The Seoul-based conglomerate has 40 percent of the market share in South Korea as well as production bases in China and France. It owns cosmetic brands Sulwhasoo and Laneige, and had revenue of 6 trillion won ($5.3 billion) in 2017.
Source:
1. forbes
2. bloomberg