CJ Olive Young FY sales increase 24 percent as K-beauty demand soars
CJ Olive Young has reported its results for the most recent fiscal year. The K-beauty retailer saw sales increase 24 percent, to KRW4.7899 trillion thanks to surging demand for K-beauty products. Net profit rose 35 percent to KRW470.2 billion. The post CJ Olive Young FY sales increase 24 percent as K-beauty demand soars appeared first on Global Cosmetics News.
THE WHAT? CJ Olive Young has reported its results for the most recent fiscal year. The K-beauty retailer saw sales increase 24 percent, to KRW4.7899 trillion thanks to surging demand for K-beauty products. Net profit rose 35 percent to KRW470.2 billion.
THE DETAILS According to a report published by Business Korea, overseas sales rose 140 percent compared to the previous year with 9.42 million foreign transactions. Tourist visits to Korean stores have also increased substantially, particularly among European shoppers.
THE WHY? Business Korea attributed the sales rise to a sharp increase in visits from foreign tourists, reflecting the global appeal of K-beauty as well as the retailer’s expansion to Japan and the US.
The post CJ Olive Young FY sales increase 24 percent as K-beauty demand soars appeared first on Global Cosmetics News.
