Next Year's IPO Olive Young to Fully Launch 'Omnichannel Platform'

Koo Chang-geun, CEO of CJ Olive Young, is presenting this year's achievements and next year's key strategic directions at the '2021 Olive Young Awards & Festa' Media Connect held on the 10th at Dongdaemun Design Plaza (DDP) in Seoul.

[Asia Economy Reporter Yuri Kim] CJ Olive Young, preparing for an initial public offering (IPO) next year, is transforming into an 'omnichannel lifestyle platform.'

On the 10th, at the '2021 Olive Young Awards & Festa' media connect held at Dongdaemun Design Plaza (DDP) in Seoul, Koo Chang-geun, CEO of CJ Olive Young, emphasized, "Internally, no one defines CJ Olive Young as a Health & Beauty (H&B) store anymore. There are infinite growth opportunities as an 'omnichannel lifestyle platform based on healthy beauty.'"

CJ Olive Young is preparing for an IPO targeted for next year. The financial investment industry estimates CJ Olive Young's corporate value to exceed 2 trillion won. CEO Koo stated that next year CJ Olive Young will strengthen its identity as an omnichannel that maximizes synergy between offline and online. To this end, the company plans to focus investments on evolving offline stores and expanding the digital ecosystem.

He said, "The functions of stores are divided into three: product sales, storage, and brand display," adding, "The products stored in over 1,200 stores nationwide enable CJ Olive Young's strength of fulfilling online 'Oneul Dream' orders with delivery within three hours." As of the third quarter this year, 'Oneul Dream' accounted for 39% of online orders in the Seoul and Incheon areas. CEO Koo said, "Next year, the delivery coverage rate of stores and urban logistics centers will reach 70%." To differentiate the brand display function of stores, CJ Olive Young will also renew 250 large stores, including flagship and town stores, next year.

In July, CJ Olive Young launched the largest digital (IT) talent recruitment since its founding and plans to increase the internalization ratio of digital planning and development capabilities to over 80% next year.

CJ Olive Young expects to achieve an annual transaction volume of 2.4 trillion won this year, a 13% increase compared to the previous year. This is a significant achievement compared to the domestic beauty market (excluding duty-free) growth rate of 2.8% this year. CEO Koo said, "This year, the number of memberships and cumulative cosmetic reviews each surpassed 10 million," adding, "The monthly active users (MAU) of the mobile application (app) also exceeded 3.33 million, which surpasses the level of well-known specialty malls."

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