CJ Olive Young Growing with SMEs, 'Joyful Partnership' Sales Increase 50 Times

[Asia Economy Reporter Minyoung Cha] CJ Olive Young's consistent win-win marketing with small and medium-sized enterprises (SMEs) is shining.

CJ Olive Young announced on the 23rd that sales from the win-win program "Joyful Companion," aimed at fostering excellent SMEs, increased 50-fold last year compared to its first year in 2016. During the same period, the number of products introduced through Joyful Companion increased fivefold.

Joyful Companion is an industry-leading win-win program that CJ Olive Young has been steadily implementing since 2016 to discover promising emerging SMEs and support their market channels.

In addition to supporting market channels, CJ Olive Young actively introduces excellent products to customers and strengthens benefits provided to small partner companies by supporting marketing activities to promote sales. Product exhibitions are held in both the first and second halves of the year, and this year, for the first time, a promotion was carried out in collaboration with brands discovered through Joyful Companion.

A representative example is the lifestyle brand "Wiggle Wiggle," which joined in December 2017. Wiggle Wiggle mainly offers miscellaneous goods such as cleansing devices and hairbrushes made of silicone material, and is popular among people in their 20s and 30s for its vibrant colors and lively designs.

Welcoming the spring season, CJ Olive Young collaborated with Wiggle Wiggle on the online and offline promotion "Smile Project" held this month. The event notices displayed in nationwide stores and online malls reflected Wiggle Wiggle's unique smile design, and smile handy bags and smile pouches were produced and given to purchasing customers. Wiggle Wiggle's sales increased by about 60% from January 1 to March 22 this year compared to the same period last year.

Some brands are expanding their stores due to favorable customer responses. The bath product brand "Poknam," which joined in September last year, is currently available in about 40 stores operating the Joyful Companion product zone. Starting next month, sales will expand to about 100 general stores to broaden customer contact points.

A CJ Olive Young official said, "Brands discovered through Joyful Companion, such as the skincare brand 'I'm From,' Wiggle Wiggle, and Poknam, are growing with self-sustainability by ranking among the top popular products, surpassing renowned domestic and international brands," adding, "Since 80% of all handled products, including Joyful Companion products, are SME and startup products, we will continue win-win cooperation and lead the K-beauty market."

This content was produced with the assistance of AI translation services.