Olive Young said on the 4th that 116 brands in its online and offline channels recorded more than 10 billion won in sales last year. Compared with 2020 (36), the number more than tripled in five years.
Last year, six brands at Olive Young surpassed 100 billion won in annual sales—Dr.G, d'Alba, Round Lab, MEDIHEAL, CLIO, and Torriden (in Korean alphabetical order)—doubling from the previous year. Among them, MEDIHEAL became the first tenant brand ever to break 200 billion won in annual sales.
Olive Young is supporting the growth of tenant brands through a solid infrastructure. Through an omnichannel strategy that connects stores nationwide with its online mall, it maximizes product exposure, and by operating stores in major tourist commercial districts as "global showrooms" and "test beds," it provides touchpoints to pre-verify overseas demand. It is also offering practical help, such as easing the burden of interest rates through a "co-prosperity fund," so that small and medium-sized enterprises, which account for 90% of all tenants, can focus on growth.
Olive Young plans to expand its business onto the global stage by opening an offline store in the United States, the world's largest beauty market, in the first half of this year. Beyond simple product sales, it aims to present K-beauty and wellness brands through Olive Young's differentiated curation, establishing a springboard for tenant brands to break into the global mainstream market.
An Olive Young official said, "We plan to continue serving as a partner that enables domestic small and medium-sized brands with world-class competitiveness to grow into global major brands through the stage that is Olive Young," adding, "We will do our best to help tenant brands draw a sustainable future within the K-beauty and wellness industry ecosystem envisioned by Olive Young."