Decoding how Korean beauty becomes global business.

Amorepacific's Mamonde began selling exclusively on Nykaa this month at a price below most of the Korean brands already on the platform. Two of those brands, Laneige and Cosrx, belong to Amorepacific. This piece sets out why a single dominant platform is the one place a multi-brand group cannot hide its own price ladder, and what that costs the brand placed at the bottom of it.