CJ Olive Young, South Korea’s dominant health and beauty retailer, reported a 14.4% year-over-year revenue increase to 1.23 trillion won ($880 million) in the first quarter of 2025.
The company, which controls approximately 90% of Korea’s beauty store market, saw balanced growth across channels with offline sales rising 15% and online transactions up 14%. Net profit jumped 19.2% to 126.3 billion won ($90.5 million).
The results extend the retailer’s momentum after reporting 3.86 trillion won ($2.8 billion) in revenue for 2023, up 39% from the previous year. CJ Olive Young has built a network of over 1,300 domestic stores while expanding its international presence through its global e-commerce platform serving 150 countries.
The company attributed its performance to enhancing shopping experiences for foreign tourists, expanding in-store experiential beauty services, and continued investment in its omnichannel strategy. It recently established a U.S. subsidiary in Los Angeles with plans to open its first American storefront, capitalizing on growing demand for K-beauty products in the world’s second-largest market for Korean cosmetics exports.
Olive Young’s success stands in stark contrast to Sephora, which exited the Korean market in 2024 following mounting losses as the local chain’s comprehensive offerings and established infrastructure proved insurmountable for the global competitor.
