OpenAI's Desktop Superapp: Unifying ChatGPT, Codex, and Browser Tools for Enterprise AI 
Tesla FSD EU Approval Delayed to April 10 as RDW Completes Final Review 
U.S. Appeals Court Strikes Down FTC Order Against TurboTax "Free" Advertising 
Oil Prices Hold Steady Amid Middle East Escalation and Sanctions Relief 
Amazon's "Transformer" Phone: Can It Succeed Where Fire Phone Failed? 
Paraguay Central Bank Holds Interest Rate at 5.5% Amid Slowing Growth 
Japan Eyes Reduction in Inflation-Linked Bond Buybacks Amid Surging Investor Demand 
Sinopec Posts 36.8% Net Profit Drop in 2025 Amid Weak Petrochemical Margins and Energy Transition Pressures 
Oil Prices Surge Amid Trump's Iran Ultimatum Over Strait of Hormuz 
U.S. Stock Futures Slide as Iran Conflict and Inflation Fears Rattle Wall Street 
Trump Signals End of U.S. Military Campaign Against Iran as Markets Rally 
Gold Prices Extend Losing Streak, On Track for Worst Weekly Loss Since 1983 
Tesla Eyes $2.9 Billion in Chinese Solar Equipment to Power 100 GW U.S. Manufacturing Push 
EA's $15B Debt Offering Draws $25B in Investor Demand Amid Credit Market Turmoil 
Netflix Eyes South Korea for More Live Events as BTS Concert Livestream Approaches 
Delivery Hero Sells Taiwan Foodpanda to Grab for $600 Million in Debt-Reduction Push 
Goldman Sachs Delays Bank of England Rate Cut Forecast Amid Middle East Inflation Risks 
AmorePacific is said to have decided to pull out Innisfree, one of its popular brands, from North America. The South Korean beauty and cosmetic company will be closing out all of the said brand’s stores, and the shutdowns have already started.
The decision was announced by AmorePacific on Friday, May 7. The closing of Innisfree stores started as early as the following day after the announcement.
The affected outlets in North America
As per The Korea Times, the company actually stated its plans to leave from the North American market in December last year during a conference call. In February, it closed the doors of at least 10 outlets in the U.S.
Prior to the last weekend’s announcement, AmorePacific already stopped the operations in two stores in Canada, and these are the branches in CF Markville Mall and the Toronto Eaton Centre. On Saturday, May 8, it shut two more outlets, and these are located in Scarborough Town Centre and the Yorkdale Shopping Centre.
"We opened our first Innisfree store in Canada to introduce updated K-beauty products there, but due to the prolonged COVID-19 situation, we have decided to close down our shops," the company official explained.
But then again, while AmorePacific is closing down its Innisfree stores, it clarified that customers can still get them through online cosmetic platforms like Sephora. It was revealed that the company launched the first Innisfree store in New York nearly four years ago, in September 2017.
The company is struggling to keep its popularity
In January, the Korean cosmetic business was reportedly battered by the COVID-19 pandemic. The Inquirer mentioned that K-beauty has been a bustling business that some tourists even go to South Korea to buy these products.
However, the pandemic has stopped tourists from coming, and shopping has dramatically declined. In any case, AmorePacific is one of the K-beauty companies that were badly affected, and it led to the shut down of its stores overseas.
At this time, it was reported that the company is also struggling to maintain its popularity in China, one of its biggest markets. People are not looking for cheaper brands but will give the same effects, so its sales have been declining. Finally, AmorePacific is aiming to boost its e-commerce sales now so it can recover soon.
