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Etude House Singapore will be closing its final physical store at Bugis Junction today, Feb. 24.

The Korean cosmetic brand first opened its doors in Singapore in 2009 and had about 16 stores here at its peak. In 2014, Etude House also opened the largest flagship store in the world at Singapore's Wisma Atria.

"This isn't goodbye"

In a post to its website, the Korean beauty chain confirmed the news of its upcoming closure on Feb. 24.

However, it noted that "this isn't goodbye", as customers will still be able to purchase its products online at any time.

Online, Etude House products can still be purchased from its website, or via e-commerce platforms like Lazada and Shopee.

From now until Apr. 30, 2022, the Korean beauty brand added that it would be running a final closing sale to thank its customers for their support. Customers can enjoy S$8 off with a minimum spend of S$48 by applying the code "THANKU8" upon checkout.

Suffered losses since 2017

According to The Korea Times, the brand has reportedly been making losses since 2017. Its net equity reached negative 66 billion won (S$74 million) in March 2021, after its total liabilities far exceeded its total assets.

While the brand shut down several shops to downsize its business, it was reportedly not enough to stem worsening earnings.

Etude House is currently managed by South Korean beauty and cosmetics giant Amorepacific, which runs 37 subsidiaries.

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