CJ Olive Young to develop inner beauty as new growth engine

South Korea's top beauty chain CJ Olive Young said on Thursday that it plans to capitalize on the growing market for inner beauty, positioning it as the company's next-generation growth engine after health foods.

Inner beauty, a term coined to emphasize the maintenance of a healthy and beautiful body through consumption, has gained significant traction among consumers.

CJ Olive Young has observed the rapid expansion of the inner beauty market, fueled by the recent trend of healthy pleasure. This trend refers to individuals in their 20s and 30s who seek to manage their health in an enjoyable manner.

Research conducted by Shinhan Securities Co.'s research center indicates that the domestic inner beauty market, valued at 700 billion won ($532 million) in 2019, is anticipated to surge to 2 trillion won ($1.5 billion) by 2025. Reflecting this trend, CJ Olive Young reported a noteworthy 44% increase in inner beauty sales during the first quarter of this year compared to the corresponding period in the previous year.

CJ Olive Young plans to introduce its own range of inner beauty products under the concept of self-management habits that promote well-being in daily life. The company will offer an array of health supplements designed to enhance everyday well-being.

Shoppers at CJ Olive Young can expect a diverse selection of inner beauty products, including ingestible options such as collagen and hyaluronic acid for improved skin health, slimming products for body fat management, enzymes and tea bean husks to support internal functions, as well as teas, protein snacks, and shakes for guilt-free indulgence.

The company plans to further broaden its lineup of inner beauty products, incorporating distinct ingredients, enhanced efficacy, and innovative formulations to cater to the diverse needs of customers seeking a health-focused lifestyle.

CJ Olive Young intends to actively identify promising new brands to solidify its leadership in the expanding inner beauty market.

Write to Ji-Yoon Yang at yang@hankyung.com