Heo Minho, Former CEO of CJ ENM Commerce Division (CJ OnStyle)
Served as CEO of CJ Olive Young for 10 Years... Achieved Record-High Sales
"Accelerating Expansion of K-Beauty Territory and New Business Areas"
Global cosmetics original design manufacturing (ODM) company Cosmax Group announced on the 5th that it has appointed Heo Min-ho, former CEO of CJ ENM Commerce Division, as Vice Chairman (CEO) of its holding company Cosmax BTI.
Heo, the new Vice Chairman, is recognized as a cosmetics and distribution expert who opened a new horizon in the domestic health and beauty (H&B) channel market. After joining Samsung Group in 1989, he worked in the distribution industry including Shinsegae Group and Dongwha Duty Free, and served as CEO of CJ Olive Young for 10 years starting in 2008.
In Heo’s first year as CEO, Olive Young succeeded in turning a profit and began substantial external growth. During his tenure, Heo actively targeted female consumers in their 20s and 30s. To differentiate from existing cosmetics specialty stores, he increased the number of exclusive overseas brands and expanded Olive Young’s private brand (PB). Through these strategies, the number of stores, which was only 40 at the time of his appointment, grew to 1,100, laying the foundation for Olive Young to become a dominant player in the cosmetics distribution channel.
Recognized for his achievements at Olive Young, Heo was appointed CEO of CJ ENM Commerce Division (CJ OnStyle) in 2018. The company explained that he demonstrated his management capabilities by pioneering the live commerce market through CJ OnStyle, improving profitability in line with the trend of shifting from TV home shopping to mobile shopping.
In particular, Heo is evaluated as an excellent manager who preemptively secured future growth opportunities through active communication and new attempts to promote new businesses, responding well to changes in the business ecosystem. During his tenure as CEO of CJ ENM Commerce Division, he launched 'CJ OnStyle,' the industry’s first integrated platform combining TV home shopping and online malls, introduced a mobile-centered live commerce strategy, and proactively responded to changes in the digital distribution market. Additionally, he strengthened logistics service competitiveness such as dawn delivery, led changes and innovations including expanding global media platforms, and achieved the highest sales in CJ ENM Commerce Division’s history.
Heo stated, "The next 10 years for Cosmax, the world’s No. 1 cosmetics ODM company, will bring more changes, and the speed of change among global customers who always seek newness may be faster than our pace of development. I will do my best in management to place Cosmax at the center of K-beauty’s growth engine, valuing innovation and speed as the highest priorities."
Cosmax Group plans to expand its global K-beauty territory and new business areas through the appointment of Vice Chairman Heo. A Cosmax Group official said, "Last year was a year that proved our No. 1 capabilities by surpassing 2 trillion won in cosmetics sales for the first time in the global industry. This year, through the appointment of Vice Chairman Heo Min-ho, we will not only expand new businesses in the global market but also transform Cosmax from a beloved Korean brand into a brand loved worldwide."
Meanwhile, Heo is scheduled to officially take office as CEO through the regular shareholders’ meeting in March.
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