South Korean beauty brand Innisfree is to shut all its stores in Canada as the brand failed to recover from the impact of Covid-19 pandemic.
Innisfree, owned by Amorepacific, recently posted on its Instagram account that it will close its self-run retail stores in the country, but will continue to offer its products across Sephora stores there.
“Circumstances have changed over the past year and we anticipate that the health and safety risks of Covid-19 will be impacting our ability to deliver the right experience for the remainder of 2021 and beyond,” the company said in the statement.
“In that challenging context, we unfortunately had to make the difficult decision to close all Innisfree retail stores in Canada.”
The South Korean beauty brand entered Canada in 2019 with its first store opened in Yorkdale. The brand then expanded its footprint in the country with three more stores in Ontario. Two stores in CF Toronto Eaton Centre and CF Markville have already been shut as the province is entering an extended retail lockdown.
The other two outlets are set to close this Saturday (May 08).
Prior to Canada, Innisfree also closed all its physical stores in the US last year due to the Covid-19 pandemic.