CJ Olive Young (hereinafter referred to as Olive Young) announced on the 8th that the number of brands that recorded annual sales of more than 10 billion won at Olive Young last year reached 100. It has been about 10 years since the first '10 billion won brand' emerged in 2013. Brands such as Mediheal, Round Lab, and Toriden exceeded annual sales of 100 billion won at Olive Young.
The top 10 brands by annual sales include Gudal, Numbers In, Dr.G, Round Lab, Rom&nd, Mediheal, Vanilla Co, Anov CLIO Cosmetics, and Toriden (in alphabetical order), comprising domestic small and medium-sized corporations. Among these, Dr.G was recently acquired by the global beauty company L'Oréal Group amid the K-beauty craze.
Olive Young commented, "This is a remarkable change compared to just 3 domestic small brands in the top 10 sales brands in 2013."
Olive Young explained that it captured customer demand based on big data analysis and market research, quickly discovering new categories that meet those demands, thus assisting the growth of K-beauty brands and manufacturers.
A representative example is the eco-friendly cosmetics category known as Clean Beauty. As a result of collaboration between Olive Young's merchandisers (MD) and partners in planning and marketing, the sales growth rate of Clean Beauty brands at Olive Young last year increased by 51% compared to the same period the previous year. The number of Clean Beauty certified brands also more than doubled compared to the first year.
Starting in 2023, it has also been focusing on nurturing the Inner Beauty category, a type of 'edible cosmetics,' achieving an average annual sales increase of 30% over the past two years.
Additionally, it is strengthening product curation and shopping services centered around stores in global tourist areas, which foreign consumers primarily visit.
An Olive Young official noted, "K-beauty brands that are reasonably priced, highly functional, and trendy are receiving positive responses from global customers," adding, "In the future, we will continue to discover and nurture emerging K-beauty brands and promising K-wellness brands, as well as strengthen our global operations to contribute to the global spread of K-beauty."