[theqoo] INNISFREE’S REBRAND FAILS TO BOOST PERFORMANCE AFTER 2 YEARS, DROPPING ‘JEJU’ LED TO SHARP DECLINE

Innisfree’s Rebrand After 2 Years… Dropping ‘Jeju’ Leads to Sharp Decline

“Despite its rebranding efforts, Innisfree continues to struggle with poor performance.”

Last year, the brand recorded 224.6 billion KRW in sales and 1.6 billion KRW in operating profit.

Compared to the previous year, sales dropped by 17.97%, and operating profit plummeted by 84.15%.

“”Failed to adapt to beauty trends”… Operating profits nosedive”

Innisfree has been underperforming since 2020, but the rebranding aimed at turning things around has seemingly made things worse.

As part of the rebrand, the brand distanced itself from the ‘Jeju’ image and instead adopted a fictional island called “New Island” as its new identity (which, honestly, I just found out about too…).

However, analysts say this shift diluted the brand’s identity, which had been centered around naturalism and Jeju-sourced ingredients, stripping away its unique positioning in the market.

To make things worse, other Amorepacific brands like Laneige and COSRX are performing well globally, leaving Innisfree in a somewhat awkward and unclear position.

Industry insiders are now calling Innisfree a “bottomless pit”, a brand that’s failing to deliver results despite strong backing from its powerful parent company.

“Pushing into global markets… Can Innisfree reclaim its second glory?”

Once upon a time, Innisfree became the first single brand to surpass 1 trillion KRW in domestic and international sales…

Now, it’s trying to overcome its slump by shifting focus to overseas markets.

It used to be one of my favorite brands, so whenever I see an article about it, I still end up clicking out of nostalgia..