CJ Olive Young is doing well, while ”Sephora” and ”Boots” are withdrawing = South Korea

CJ Olive Young is doing well in the Korean healthcare and beauty market. GS Retail's healthcare and beauty products sales chain ``Larabra'' and Shinsegae Group E-Mart's British company ``Boo''.
CJ Olive Young has solidified its top position following the French chain Sephora's decision to withdraw from the Korean market.
Sephora posted on its official SNS, ``Starting from May 6th, we will phase out the operation of online malls, mobile stores, and physical stores, and
We will proceed with our withdrawal from the scene." Sephora Korea's operating loss will increase from 12.4 billion won (approximately 1.4 billion yen) in 2020 to 17.6 billion won (approximately 1,988.56 million yen) in 2022.
had reached. Meanwhile, Korean peer CJ Olive Young's operating profit rose from 100.1 billion won (approximately 11,316.43 million yen) to 271.3 billion won (approximately 30,676.67 million yen) during the same period.
It has more than doubled in size. Customers did not turn to Sephora, which mainly sold expensive cosmetics. On the other hand, "Olive Young" has 8 products in the mid-to-low price range by small and medium-sized cosmetics brands.
Accounts for 0%. Due to rising prices, it has captured the hearts of consumers who prioritize price as their top priority when purchasing products. Furthermore, in June 2019, “Olive Young” announced the e-commerce (EC) service “Global
``Mall'' opened. The number of members exceeded 1.2 million at the end of last year, supporting the company's strong performance.