Korea’s beauty retailer CJ Olive Young to open first US offline outlet

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The story "Korea’s beauty retailer CJ Olive Young to open first US offline outlet" was covered 5 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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Korea’s beauty retailer CJ Olive Young to open first US offline outlet - Korea Economic Daily

Quick Summary:

By combining local data accumulated through its global e-commerce platform with its successful omnichannel strategy in Korea, the company aims to create an outlet that integrates various K-beauty brands and trends, it said.“Our local subsidiary in Los Angeles, CJ Olive Young USA, marks our full-fledged entry into the world’s largest beauty market,” it said in a statement.

Data from Korea’s Ministry of Food and Drug Safety showed that K-beauty exports to the US grew by an annual average of over 20% from 2020 to 2023.“Establishing CJ Olive Young USA is a stepping stone for us to find new growth drivers in the global market alongside our core small and medium-sized brand partners,” said CJ Olive Chief Executive Lee Sun-jung.“We will do our best to serve as a ‘K-beauty growth booster’ in overseas markets.”By In-Soo Namisnam@hankyung.comJennifer Nicholson-Breen edited this article.

CJ Olive Young Corp., South Korea’s top beauty store chain, said on Tuesday it has set up a US business entity in Los Angeles, California, to enhance its presence in the world’s largest beauty products market.