Exterior view of Olive Better's Gwanghwamun store in Seoul [Photo: Olive Young]

CJ Olive Young said on Wednesday it disclosed key results as its wellness curation platform Olive Better (OLIVE BETTER) marked 100 days since launch.

Olive Better is a platform launched on Jan. 30 that expanded its existing health category to wellness overall under the value of "healthy beauty".

The company said that, as of the end of last month, more than half of the top 30 products by sales at Olive Better stores were tallied as wellness shots and gummy products. The number of Olive Young members who bought wellness products for the first time also surpassed 1.8 million.

New brand listings were also active. From domestic indie brands such as Tiger Morning and Dosi to global brands Eust and Yaiya and Friends, about 560 brands and 13,000 products were newly listed. Customers who bought All the Better were found to additionally purchase an average of 3 to 4 other brands.

Foreign customer inflows also increased rapidly. The foreign sales share in the first week of February, right after the Gwanghwamun store opened, was 7 percent, but it neared 50 percent by the end of April. The company explained that the top 5 products purchased by foreign customers were domestic brands such as Rejuran, BB Lab and Nothing Better, showing that K inner beauty is establishing itself as a global trend.

Olive Young plans to pursue an online mall revamp in parallel with expanding offline store openings. It will enhance the browsing environment by detailed purposes and functions on its online mall, and plans to secure 10 additional stores within this year, focusing on key commercial districts in Seoul and the greater capital area such as Myeongdong and Seongsu. It is also reviewing a hybrid store that combines Olive Young and Olive Better.

An Olive Young official said, "Olive Better's first 100 days are meaningful in that Olive Young successfully transplanted the K-beauty success formula it has built into the wellness market to create a solid K-wellness ecosystem and prove the possibility of global expansion." The official added, "We will continue to discover emerging domestic wellness brands and strengthen the competitiveness of K-wellness by continuing market innovation."

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#CJ Olive Young #Olive Better #Gwanghwamun #Myeongdong #Seongsu
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