Grace, Snowflake Show, Hera, Ranji, Itti House, Lui, how much do you know about these familiar brands? Which one is preferred? Which one to hate?
But in fact, they are a mother and brother, all belong to the Korean cosmetics giant Amore Pacific (AB) under the umbrella, in addition to these, there are Esper, Ainoby, Korean law, the company's eponymous niche lady brand AP...
With a huge cosmetics company, Amorepacific's current head Xu Qingpei also unsurprisingly became the 10th place in the 2021 Forbes Korea Rich List.
Xu Qingpei
There is an old Chinese saying: rich is not more than three generations.
Looking at Xu Qingpei's history of his family, this sentence is obviously not quite right, the Xu family is richer than one generation, and the efforts of three generations have exchanged Amorepacific's current status.
In the 1930s, an ordinary couple opened a small shop in North Korea to support their six children, mainly selling camellia hair oil, which was made by the hostess Yoon Du-ting and had the exclusive secret recipe.
Outside the female protagonist, inside the male protagonist, with this craft, the family's life is flourishing.
Xu Qingpei's father Xu Chenghuan is the youngest son of Yin Duting, as the youngest child in the family, Xu Chenghuan has been deeply loved since childhood, and when he grows up, he follows his mother's ass to learn to do business, and for his heart, liver and liver, Yin Duting also has no reservations.
Xu Chenghuan
His mother's business is booming, but the ambitious Xu Chenghuan is not willing to give up to his mother's two acres and three points of land.
In 1945, Xu Chenghuan founded the Pacific Chemical Industry Society, the predecessor of today's Amorepacific.
Born in a small North Korea, but looking at the Pacific Ocean, Xu Chenghuan in the early days of entrepreneurship has already revealed his wolf ambitions.
In 1959, the company changed its name to Pacific Chemical Industry Co., Ltd., and the name has undergone several changes, but the three words "Pacific" have never changed.
Xu Chenghuan's business style is in line with his mother, Yin Duting. He believes that a popular product is worth hundreds of bad products. In fact, it is also true that some popular products such as "ABC Ginseng Cream", "Melody Cream", "ABC Hair Wax" and so on have brought great benefits to Pacific Company.
ABC ginseng cream
ABC wax
Xu Chenghuan also has six children, two boys and four daughters, and Xu Qingpei is the youngest son.
He studied at Yonsei University in the Department of Business Administration, and then went to Cornell University in the United States for further studies.
In 1987, Xu Qingpei entered his father's company and served as a section chief in Pacific Chemical, starting from the grassroots level. With his excellent ability and the financial resources of my father as the president, he was promoted all the way to the president.
In 1997, at the age of 34, Xu Qingpei officially took over Pacific Chemical and renamed it Amorepacific in 2002.
In 2003, Xu Chenghuan died, and Xu Qingpei's older brother, Xu Rongpei, president of the Pacific Development Corporation, inherited important subsidiaries such as finance, construction, and metals.
Although Xu Chenghuan's Pacific ocean started by skin care products and cosmetics, after years of painstaking management, the focus of the industry has long become financial, metal... That's the part my brother inherited. As the youngest son, Xu Qingpei only inherited the unimportant cosmetics company.
But "Pacific Ocean" was founded by Xu Chenghuan, the youngest son of Yin Duting, and it seems that it should also be carried forward by Xu Chenghuan's young son.
Xu Rongpei's industry is declining day by day, and Xu Qingpei is bold in reform.
He cut down marginal businesses such as clothing, green tea, etc., and concentrated the funds in the cosmetics area. Xu Qingpei also shut down the cosmetics industry that Xu Chenghuan had painstakingly founded in France and invested in the Chinese market instead.
In order to cover all consumption levels, Xu Qingpei has created a number of brands, snowflake show, Yuefeng poetry and so on.
Like his father and grandmother, Xu Qingpei chased the blockbuster, and he created a product that had never been seen in the makeup industry - air cushions.
Because of the convenience and practicality, almost every girl who wears makeup now has a hand, whether you are a white rich beauty or a slum girl, and it does not matter whether you are only eighteen or a child mother.
In 2015, air cushions sold the best, selling 33 million units. Watching Amorepacific eat meat, Armani, YSL, Chanel and other big brands can't help but share a piece of the pie, and can't wait to launch their own air cushion products.
All this shows Xu Qingpei's business talent, but what makes him a god is his grasp of Han Chao.
Please be popular Korean star endorsement of their own products, in the Korean drama a variety of implants. The most famous of these is the popular Korean drama "You from the Stars" of that year, the heroine played by Jeon Ji-hyun uses Han Lu's lipstick and the lips of IOPE Hydrating Lipstick No. 44 Forever Pink to tell her love for Do Min-joon. 
Chun Song-yi, played by Jeon Ji-hyun
As South Korean economists say: The popularity of the Korean tide has made every company that goes global profit from it.
Riding on this shareholder wind, Amoree Pacific's business is becoming more and more prosperous, and Xu Qingpei's own value has also risen again and again, becoming a rich man with a name and a surname in South Korea.
In 2015, Xu Qingpei was elected Forbes Asia Business Person of the Year.
Xu Qingpei does not deny the help of the Hallyu for the product, but he believes more in Amorepacific's own strength. The trend is only temporary, and good products are king.
The Korean Wave was indeed only temporary, and a few years later, the THAAD incident and the Korean restriction order completely ended the era when the Korean Wave was prevalent in China.
But Amorepacific's products are obviously not as good as Xu Qingpei himself thought. With the rise of domestic products and the influx of excellent products from other countries, Amorepacific products have begun to be cold.
In 2019, INNIS, an important subsidiary of AP, has successively closed 140 stores in China.
In 2020, sales of Alice Cottage were KRW 110 billion, down 38% from the previous year. Since 18 years, shareholders have not received dividends from Alice Cottage. Innisfree also did not pay dividends after 2019. Esper faces the same dilemma.
Amorepacific has always been the concept of "let the world see the beauty of Asia", and the cosmetics and skin care products launched are undoubtedly more suitable for Asian women. Although Xu Qingpei spent a lot of effort to open up the European and American markets, it is obvious that the effect is not satisfactory.
In 2020, Amorepacific's turnover in North America was approximately $33 million. In North America, which is equally large, these sales are not worth mentioning. Moreover, according to the survey, most of the audience in North America is still Korean and Chinese-American.
But Xu Qingpei does not intend to modify his products for the European and American markets, but instead intends to use Asian elements as the selling point of the products.
Whether this strategy is feasible or not, time will give you the answer.
Xu Qingpei is different from many unsmiling chaebols in South Korea, he has a smile on his lips, has a polite temperament, and is more like a cultural person who reads poetry and books than the president.
He is also not like many pedantic chaebols, who must hand over the business to his son.
Xu Qingpei's wife is Xin Yunjing, the younger daughter of Nongshim Group founder Xin Chunhao, and the two have two daughters. The eldest daughter, Xu Minjing, like her father, graduated from the Department of Economics at Cornell University in the United States.
Xu Minjing
In 2017, Xu Minjing entered Amorepacific, and only five months later, she raised her resignation and turned to China's Cheung Kong Graduate School of Business to pursue an MBA, and worked in JD.com after graduation.
In October 2019, Xu Minjing, who returned from school, returned to her father's company and became everyone's default successor.
In October 2020, Xu Minjing married Hong Zhenghuan, the eldest son of Baoguang Venture Capital Chairman Hong Xi-yong and the cousin of Samsung Vice President Lee Jae-yong. Hong Jeong-hwan was given 100,000 ordinary shares of Amorepacific, worth about 7.34 billion won.
Xu Minjing and Hong Zhenghuan were engaged at the scene
However, this door-to-door marriage did not last long.
Just seven months later, in May of this year, the two divorced by agreement.
It seems that Xu Minjing's inheritance of the "great unification" has become a fact, but Xu Qingpei is the youngest son who counterattacked, and the relevant person of the group also said: "President Xu Qingpei is still very young, and it is inappropriate to start talking about the inheritance issue now." Perhaps, many years later, Xu Qingpei's mysterious little daughter made a splash and snatched the AP from her sister's hand.