CJ Olive Young Sets All-Time Record for Sales and Profits

CJ Olive Young achieved its highest-ever performance last year with sales of 5.8539 trillion won and an operating profit of 732.8 billion won, demonstrating the company's success in securing both top-line growth and profitability.

CJ Olive Young's growth last year is closely linked to the recovery in the number of foreign tourists visiting Korea. According to the Korea Tourism Organization, the number of foreign visitors to Korea increased from approximately 970,000 in 2021 to 11.03 million in 2023, with CJ Olive Young's foreign customer payments exceeding 1 trillion won last year, serving as a key factor in its performance growth.

CJ Olive Young's performance was supported by an omnichannel strategy that integrated online and offline channels. The company strengthened its online competitiveness with fast delivery services like 'Today's Delivery' and differentiated its offline stores as experiential spaces to attract more customers. Furthermore, its strategy of discovering and expanding its own private brands (PB) and those of small and medium-sized businesses contributed to improved profitability.

Based on these achievements, CJ Olive Young is solidifying its status as a core pillar within the group. As of last year, it accounted for approximately 30% of the group's operating profit, serving as a stable source of cash generation. CJ Olive Young is being recognized for its evolution from a mere distribution channel to a global platform representing K-beauty.