CJ Olive Young's "Ollyoung Sale" Dominated by Local Small Brands
CJ Olive Young's recent "Ollyoung Sale" saw local small business brands sweep the top 10 in sales. The sale, which ran from May 31 for seven days, recorded all top 10 selling products from domestic small business brands.Independent brands, known as "indie cosmetics," make up over 80% of CJ Olive Young's product lineup. This sale highlighted summer essentials like sunscreens and soothing skincare products. Notable products included Dr.G Red Blemish Clear Soothing Cream, Torriden Dive-In Serum, Mediheal Madecassoside Spot Pad, and Round Lab Birch Juice Moisturizing Sunscreen.
Brands like Dr.G, Round Lab, Mediheal, and Torriden each achieved an average daily sales of 1 billion KRW during the sale. Dr.G, a prominent small business brand, offers a variety of products including their bestseller cream, sunscreens, essences, and cleansers. Round Lab expanded their product line from their popular Dokdo Toner to men's skincare, masks, and cleansers. Mediheal is well-known for their face masks, while Torriden is favored for its lightweight, hydrating skincare products.
The sale also saw an increase in younger and international customers. The number of teenage members visiting stores and online increased by 30% from the previous sale, and sales from foreign visitors surged by 78%.
The Ollyoung Sale is held four times a year. Last year's sales during the Ollyoung Sale period increased by 42% compared to the previous year, with 24.9 million transactions and 6 million online and offline visitors.
A representative from Olive Young stated, "The Ollyoung Sale has become a highly anticipated K-beauty event for both domestic and international customers. We will continue to grow with more small and new K-beauty brands, contributing to the global expansion of K-beauty."
KOTRA Accelerates K-Beauty and Healthcare Exports in Shanghai and Beijing
The Ministry of Trade, Industry, and Energy and the Korea Trade-Investment Promotion Agency (KOTRA) are actively advancing Korean beauty and healthcare exports to China. KOTRA hosted "2024 K-Beauty Shanghai" on May 22 and "2024 K-Healthcare Beijing Delegation" on May 28 to cater to evolving Chinese market trends and boost exports.At K-Beauty Shanghai, in partnership with organizations like the Korea Federation of SMEs and Seoul’s Gangnam and Geumcheon districts, KOTRA held a Korea-China Cosmetics Business Forum and one-on-one business meetings. The forum, in collaboration with the China Customs Association, analyzed changing consumer trends, such as market polarization and the shift to online sales, and suggested local market entry strategies. China's online cosmetics market share exceeded 50% for the first time last year, presenting new export opportunities.
Business meetings facilitated connections between 30 Korean companies and buyers from online platforms like Douyin and Xiaohongshu. Additionally, social marketing support, including short-form videos and live commerce, helped secure new distribution channels.
At K-Healthcare Beijing, the Korea-China Healthcare Business Forum and business meetings allowed Chinese potential partners to experience products firsthand. KOTRA provided sector-specific consulting, considering the stringent entry barriers of the Chinese healthcare market. Joint consulting booths run by KOTRA's FTA Utilization Support Center, Korea Trade Insurance Corporation, Korea Intellectual Property Protection Agency, and Korea Testing and Research Institute offered comprehensive support in trade agreements, insurance, intellectual property, and certification.
The healthcare forum covered the present and future of Korea-China healthcare industry cooperation, with industry insights and collaboration examples shared by organizations like Korea Investment Partners and Shandong University Northeast Asia Research Center. Business meetings included participation from 25 Korean companies, featuring major names like Osstem Implant, Ceragem, Jeong Kwan Jang, Chong Kun Dang Health, and Douzone Bizon, targeting China's rapidly growing healthcare market.
KOTRA has been actively organizing significant export events in China this year, focusing on consumer goods. Recent events include the China Shenzhen Cultural Industry Fair and the K-Lifestyle in Shanghai, where Korean cosmetics, health foods, and daily necessities were showcased, securing premium product export contracts.
Hwang Jae-won, head of KOTRA's China Regional Headquarters, stated, "With the increasing high-level exchanges between Korea, Japan, and China, we have established this business exchange platform to promote cooperation in the beauty and healthcare sectors. We will do our utmost to expand exports to China."
Opened on June 3, the store allows visitors to receive personalized skincare recommendations through individual skin diagnostics. Using a smart mirror linked to an online platform, SkinQurator, which manages over 5,000 skin data points, the store provides customized skincare solutions with Jeju cosmetics.
Business meetings facilitated connections between 30 Korean companies and buyers from online platforms like Douyin and Xiaohongshu. Additionally, social marketing support, including short-form videos and live commerce, helped secure new distribution channels.
At K-Healthcare Beijing, the Korea-China Healthcare Business Forum and business meetings allowed Chinese potential partners to experience products firsthand. KOTRA provided sector-specific consulting, considering the stringent entry barriers of the Chinese healthcare market. Joint consulting booths run by KOTRA's FTA Utilization Support Center, Korea Trade Insurance Corporation, Korea Intellectual Property Protection Agency, and Korea Testing and Research Institute offered comprehensive support in trade agreements, insurance, intellectual property, and certification.
The healthcare forum covered the present and future of Korea-China healthcare industry cooperation, with industry insights and collaboration examples shared by organizations like Korea Investment Partners and Shandong University Northeast Asia Research Center. Business meetings included participation from 25 Korean companies, featuring major names like Osstem Implant, Ceragem, Jeong Kwan Jang, Chong Kun Dang Health, and Douzone Bizon, targeting China's rapidly growing healthcare market.
KOTRA has been actively organizing significant export events in China this year, focusing on consumer goods. Recent events include the China Shenzhen Cultural Industry Fair and the K-Lifestyle in Shanghai, where Korean cosmetics, health foods, and daily necessities were showcased, securing premium product export contracts.
Hwang Jae-won, head of KOTRA's China Regional Headquarters, stated, "With the increasing high-level exchanges between Korea, Japan, and China, we have established this business exchange platform to promote cooperation in the beauty and healthcare sectors. We will do our utmost to expand exports to China."
Customized Cosmetics Flagship Store Opens at Jeju Jungmun Duty-Free Shop
The Jeju Tourism Organization and Jeju Technopark have opened a "Customized Cosmetics Flagship Store" at the Jeju Jungmun Duty-Free Shop. This store offers tourists a unique shopping experience and is expected to have a positive impact on the local economy.Opened on June 3, the store allows visitors to receive personalized skincare recommendations through individual skin diagnostics. Using a smart mirror linked to an online platform, SkinQurator, which manages over 5,000 skin data points, the store provides customized skincare solutions with Jeju cosmetics.
Supported by the Ministry of Trade, Industry, and Energy and Jeju Special Self-Governing Province, this store is part of a broader project to build a big data-based customized cosmetics platform, combining IT technology and the beauty industry.
The Jeju customized cosmetics flagship store reflects the growing trend of personalized skincare products. A representative from Jeju Tourism Organization stated, "As IT technology integrates with personalized services, demand for customized cosmetics tailored to individual skin types and preferences is increasing. We will continue to collaborate with related organizations to expand sales channels for local products and contribute to revitalizing the local economy."
Moon Yong-seok, President of Jeju Technopark, emphasized the significance of the SkinQurator model, which helps tourists select Jeju cosmetics with ease. He noted that the collaboration with the Jeju Tourism Organization provides an excellent opportunity to promote the excellence of Jeju's cosmetics.
The Jeju Tourism Organization and Jeju Technopark plan to actively promote Jeju's superior cosmetics through the customized cosmetics flagship store.
The Jeju customized cosmetics flagship store reflects the growing trend of personalized skincare products. A representative from Jeju Tourism Organization stated, "As IT technology integrates with personalized services, demand for customized cosmetics tailored to individual skin types and preferences is increasing. We will continue to collaborate with related organizations to expand sales channels for local products and contribute to revitalizing the local economy."
Moon Yong-seok, President of Jeju Technopark, emphasized the significance of the SkinQurator model, which helps tourists select Jeju cosmetics with ease. He noted that the collaboration with the Jeju Tourism Organization provides an excellent opportunity to promote the excellence of Jeju's cosmetics.
The Jeju Tourism Organization and Jeju Technopark plan to actively promote Jeju's superior cosmetics through the customized cosmetics flagship store.
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