Foreign Sales Surge... Olive Young's Q1 Revenue Jumps 30%

Q1 Sales 1.0762 Trillion Won... 30% Increase Compared to Same Period Last Year

CJ Olive Young's sales in the first quarter surged by 30%, driven by a sharp increase in foreign customer sales.

On the 13th, customers, mostly foreigners, are selecting cosmetics at a cosmetics shopping mall in Myeongdong, Seoul. Photo by Heo Younghan younghan@

According to the Financial Supervisory Service's electronic disclosure system on the 16th, CJ Olive Young recorded sales of 1.0762 trillion KRW in the first quarter, marking a 30% increase compared to the same period last year. Olive Young has posted quarterly sales exceeding 1 trillion KRW for three consecutive quarters since the third quarter of last year (1.05 trillion KRW).

Operating profit and net profit figures were not disclosed. As an unlisted company, CJ Olive Young reports its performance through the CJ Group and only releases detailed figures on an annual basis.

The significant sales growth is attributed to foreigners. With growing interest in K-beauty, foreign tourists visiting Korea consider Olive Young a "must-visit tourist destination."

In response, Olive Young launched a foreigner-specialized store, "Olive Young Myeongdong Town," in November last year, and plans to open a new foreigner-specialized store at Hongdae Entrance by the end of next month. Last month, portable translators capable of interpreting 16 languages were introduced in Olive Young stores nationwide to assist foreign customers.

Additionally, sales growth is analyzed to reflect the effects of core competitive strengths such as ▲product curation capabilities ▲discovery of emerging brands ▲acceleration of omni-channel integration linking online and offline.

An Olive Young representative stated, "We are continuously improving overall aspects such as product diversity, membership services, store environment, and app convenience in line with changing domestic consumer needs and the global K-beauty trend." They added, "These efforts appear to have resulted in positive responses and interest not only from domestic but also overseas consumers."