Olive Young’s unique appeal lies in its diverse offerings — from renowned Korean labels to niche indie brands — all available for testing and purchase under one roof. (Image courtesy of CJ Olive Young)
SEOUL, Feb. 4 (Korea Bizwire) - CJ Olive Young Corp., the distribution unit of South Korean food-to-cosmetics conglomerate CJ Group, said Tuesday it has set up a business entity in the United States as part of its expansion strategy.
CJ Olive Young has recently established CJ Olive Young USA in Los Angeles to expand its presence in the world’s biggest beauty products market, the company said in a press release.
The U.S. subsidiary will make preparations to open Olive Young outlets in the U.S. and provide localized logistics services, it said.
The U.S. beauty products market reached 156 trillion won (US$120 billion) in 2023, accounting for 21 percent of the global market valued at 740 trillion won, according to global market research firm Euromonitor International.
CJ Olive Young sees Japan and the U.S. as two strategically important markets for its global expansion amid growing interest in K-beauty products.
Last year, the company opened an office in Japan to supply its cosmetics products to local distribution channels.
Currently, it sells its products through online platforms in global markets, without an offline store.
(Yonhap)
