External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

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Thematic (Sector/Industry)

<ul><li>Until now, K-beauty growth has been led primarily by online channels. Amazon has served as the core overseas sales channel, while TikTok Shop has functioned as both a marketing and sales platform.</li><li>This year, APR is expected to generate nearly W300bn in revenue from Amazon US; given that its market share remains at only around 4% on Amazon US (beauty category), we see further upside for online channel growth.</li><li>Going forward, offline expansion by brands with strong online track records is likely to provide additional growth momentum. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Until now, K-beauty growth has been led primarily by online channels. Amazon has served as the core overseas sales channel, while TikTok Shop has functioned as both a marketing and sales platform.This year, APR is expected to generate nearly W300bn in revenue from Amazon US; given that its market share remains at only around 4% on Amazon US (beauty category), we see further upside for online channel growth.Going forward, offline expansion by brands with strong online track records is likely to provide additional growth momentum. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

[2026 Outlook] CosmeticsExpanding beyond Gen Z and into the mainstream

South Korea

AMOREPACIFIC Holdings Corp. produces cosmetics. The Company manufactures skin care products, makeup, shampoo, and other products. AMOREPACIFIC Holdings conducts businesses in South Korea.

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Amorepacific Holdings (002790 KS)

[2026 Outlook] CosmeticsExpanding beyond Gen Z and into the mainstream

Until now, K-beauty growth has been led primarily by online channels. Amazon has served as the core overseas sales channel, while TikTok Shop has...

Mirae Asset Securities

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