On November 22, CJ Olive Young will open its first innovative store, “Olive YoungN Seongsu,” a five-story building located in Seongsu-dong, Seoul, which is quickly becoming a hub for K-Culture. The store is not only the largest beauty store in the world but also includes elements of fashion and food. Olive Young’s strategy is to establish dominance in the K-Beauty distribution market using this landmark store in a district that leads in beauty, fashion, and food trends.
The new Olive YoungN Seongsu store, housed from the first to the fifth floor of Seongsu’s Factorial building, spans 4,628 square meters, surpassing the size of its previous largest store, the Myeongdong Town store, which was 1,157 square meters. According to industry experts, this makes it the biggest single beauty store globally.
Located in an area that has seen a significant increase in sales, with a 90% rise in Olive Young stores in Seongsu from January to October compared to the previous year, the store aims to be a must-visit site for tourists. Olive Young’s revenue has significantly increased by 25.9% in the first three quarters of the year, potentially reaching over 4 trillion won for the year, despite competition from companies like Musinsa and Kurly.
Olive YoungN Seongsu shifts from the traditional concept of displaying and selling cosmetics to emphasizing customer experience and new product curation. The first floor will feature an exhibition space named “Trend Fountain” and pop-up showrooms. The second floor will allow customers to enjoy K-Culture elements like K-Pop, with related artist merchandise on display. There will also be a gallery-like space for fragrance experiences and makeup consulting. The third floor will host “Active Skincare” products and a professional skin care studio named “Skin Fit Studio.” Furthermore, a “Connect Studio” will enable collaborations with brands in the K-Beauty industry through live broadcasts.
Olive Young CEO Lee Sun-jung stated that the company has grown alongside domestic small and medium brands during its 25 years of continuous innovation and challenges. She emphasized that Olive Young will continue evolving toward a “global K-Beauty platform” alongside other K-brands in beauty, wellness, and lifestyle.