CJ Olive Young, Half of the '100 Billion Club' Comprises Small and Medium K-Beauty Companies

CJ Olive Young announced on the 6th that the number of '100 Billion Club' brands?brands with annual sales exceeding 10 billion KRW among those entering last year?increased by 30% compared to the previous year.

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More than half of the 100 Billion Club brands were domestic small and medium-sized enterprises (SMEs). As a result, the proportion of domestic SMEs among brands with annual sales exceeding 10 billion KRW at Olive Young expanded from 39% in 2020 to 51%. Last year, SME brands achieving annual sales of 100 billion KRW at Olive Young also emerged. These include the color cosmetics brand 'Clio' and the sunscreen brand 'Round Lab'.

The sales scale generated by small and medium brands at Olive Young itself also grew. In 2020, only four of the top 10 brands by sales were domestic small and medium brands. However, last year, seven of these were emerging and small-to-medium K-beauty brands. Domestic small and emerging beauty brands such as 'Numbers In', 'Dr.G', 'Round Lab', 'Rom&nd', 'Mediheal', 'Clio', and 'Toriden' surpassed large domestic and international corporate brands to rank high in Olive Young sales.

Toriden, a skincare brand that entered Olive Young in 2019, rapidly grew by raising consumer awareness as an ‘Olive Young Clean Beauty’ brand that excludes harmful ingredients to the human body. Toriden, which first joined the ‘100 Billion Club’ in 2022, saw its Olive Young sales quadruple last year. Numbers In, which entered in 2021, also rapidly grew by expanding product categories and launching planned products at Olive Young, increasing its sales scale more than threefold over the past year.

Among basic cosmetics, brands such as 'Rejuran', 'Medifill', 'Arielle', and 'Ilso' and among color cosmetics, brands like 'Cosnori', 'Pui', and 'Hince' newly joined the list of brands with annual sales exceeding 10 billion KRW. In the men’s care category and personal care (hair care, body products, etc.) category, 'Objet' and 'Healing Bird' respectively entered the 100 Billion Club.

Olive Young aims to lead beauty trends this year and further expand the K-beauty industry. It plans to promote the functional basic cosmetics category ‘Slow Aging’, introduced last year, to more consumers and diversify products and brands of ‘Inner Beauty’, a type of ‘edible cosmetics’ such as collagen and glutathione.

Additionally, to build the K-beauty industry ecosystem, Olive Young will implement a win-win management plan investing approximately 300 billion KRW over three years starting this year. It will support all stages from planning new brands and products to research and development (R&D), sales, and marketing step-by-step, helping discover emerging brands and assist their overseas expansion.

An Olive Young official said, “We will further strengthen the ‘win-win management’ policy that supports emerging brands to grow quantitatively based on their popularity at Olive Young and to enhance their competitiveness qualitatively by entering overseas markets.”

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