(Olive Young)
South Korea’s leading beauty retailer CJ Olive Young Corp. on Thursday unveiled plans to expand its wellness curation platform store Olive Better to 10 locations by the end of this year.
Olive Better, a wellness-focused store format that Olive Young launched in January, introduces related products to the market.
According to data analyzed by Olive Young to mark the 100th day since the launch of Olive Better, 1.8 million Olive Young members have purchased wellness products for the first time since the platform’s debut.
During this period, Olive Young also brought in around 560 new wellness-related brands and 13,000 products.
While foreign customers accounted for 7 percent of sales at the first Olive Better store in Gwanghwamun, central Seoul, during the first week of February, the share surged to nearly 50 percent by the end of April.
The company noted that all of the top five products purchased by foreign customers were domestic brands, confirming strong demand for K-inner beauty products.
Buoyed by such customer response, Olive Young plans to open new Olive Better stores starting in the second half of the year in major commercial districts such as Myeongdong and Seongsu.
Olive Young also plans to open hybrid stores combining Olive Young and Olive Better. It also aims to further enhance its online mall by organizing products by purpose and function so that customers can more easily understand and explore wellness products.
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