S.Korea's Amorepacific opens new space in metaverse

Amidst the accelerated entry of fashion and beauty brands into the metaverse to seize future opportunities, Amorepacific Corp. has also joined the bandwagon.

The South Korean cosmetic company has announced that it will launch "New Beauty Land" on March 28, a virtual space modeled after its Yongsan headquarters in Seoul, on the web 3.0-based metaverse platform "Decentraland."

As an official partner of the 2023 Metaverse Fashion Week (MVFW), the company will present a new virtual space together with global fashion and beauty firms. The previous year's MVFW had over 60 popular brands, including Estée Lauder, attracting a total of 100,000 visitors.

New Beauty Land, comprising three themes, aims to embody Amorepacific's vision of "Live Your New Beauty," offering customers the opportunity to experience and communicate with the brand in a virtual space.

The first floor will feature a photo zone, while on the second floor, customers can explore Amorepacific's major brands like Sulwhasoo, Laneige and Innisfree. Customers can also appreciate 12 non-fungible token (NFT) works selected by the "Colors of New Beauty" contest and receive NFTs issued by Amorepacific after experiencing the space on the third floor.

"New Beauty Land in Decentraland is a chance to provide Amorepacific's vision and a new brand experience to global customers. Following the launch of New Beauty Land, Amorepacific will introduce various web 3.0 projects in the future," said Ju Hyo-jung, executive director of Amorepacific's Digital Strategy Division.

Write to Jiyoon Yang at yang@hankyung.com