Recently, CJ Olive Young Corp.announced that in the first half of this year, the company’s online cosmetics sales through Olive Young Global Mall skyrocketed by 70% year over year. This growth was primarily driven by soaring demand from the US market, reflecting a burgeoning fascination with Korean skincare and beauty products.
The company reported significant milestones, noting that sales during their summer sales event in May saw a threefold increase compared to the previous year. Top-selling items included skincare essentials, sunscreens, face masks, and toner pads enriched with natural, active ingredients like madecassoside, hyaluronic acid, and collagen. Notably, more than half of the total sales originated from the US, contributing significantly to the overall sales surge.
International shipments also saw substantial growth, with the UK experiencing a quadruple increase, followed by Malaysia (256%), Singapore (191%), Japan (180%), and the Philippines (138%). To meet this escalating demand, CJ Olive Young recently inked a memorandum of understanding with FedEx Corp. for streamlined logistics services between the US and Korea, alongside local distribution enhancements within the US.
In addition, CJ Olive Young established a US business entity in Los Angeles to launch its first offline store in the US. Concurrently, the company is bolstering local logistics across other key markets. They’ve also revamped the Olive Young Global Mall’s user experience, offering simplified login options and integrating self-service kiosks in their Korean stores to facilitate international customer access.
Looking forward, CJ Olive Young aims to continue nurturing small- and mid-sized Korean cosmetics brands venturing into global markets. As of June, the Global Mall hosts over 1,200 K-beauty brands, a ninefold increase since its inception in 2019.
