|Olive Young’s global online mall (CJ Olive Networks)|
According to Olive Young, the opening of its online mall targeting foreign shoppers in some 150 countries follows rapidly growing overseas demand for K-beauty products.
The service, which can be found at global.oliveyoung.com, is the first e-commerce platform for overseas consumers by a South Korean cosmetics retailer.
Olive Young said it would first target consumers in the United States, where its health and beauty market is one of the largest in the world and expected to reach a market value of $805.61 billion by 2023.
Starting with English, the beauty retailer said it would gradually offer different language options -- Chinese, Japanese and Spanish -- for convenience of foreign customers.
“Famous beauty and cosmetics shops in the US have already set up K-beauty sections, amid increasing demand especially from millennial customers. Good product quality, reasonable prices and unique concepts make Korean cosmetics stand out,” Olive Young said in a statement.
Olive Young said it will operate its global e-commerce platform based on its focus to offer various kinds of trendy, affordable K-beauty products. It will sell some 1,000 products from 130 brands including skin care products, hair and body products, beauty tools and more on its global online mall.
“Olive Young’s global online mall will become a platform to increase brand awareness in the global market and work as a channel for foreign customers to have an easier access to K-beauty products,” an Olive Young official said.
The company said it would provide free shipping to 150 countries including US and Europe for orders over $50. Deliveries will be done via EMS or K-Packet service.
By Kim Da-sol (firstname.lastname@example.org)