CJ Olive Young is ramping up its push into the K-wellness market with the launch of its new wellness-focused platform "Olive Better." The company aims to set new standards in the global wellness market by leveraging an omnichannel strategy that blurs the boundaries between online and offline retail.
Olive Young announced Wednesday that it will open its first offline Olive Better store on January 30 at D-Tower in Gwanghwamun, central Seoul. Olive Better is a platform that expands Olive Young's health category into broader wellness offerings, providing curated products and categories tailored to consumers' lifestyles. Gwanghwamun was selected as the first location due to its high foot traffic of health-conscious office workers and abundant wellness infrastructure including yoga studios and fitness centers.
The two-story store spans approximately 430 square meters and features around 3,000 products from over 500 brands. Products are organized into six categories: Eat Well (healthy snacks), Fill Well (nutritional supplements), Move Well (supplements and fitness gear), Groom Well (aromatherapy and dermocosmetics), Rest Well (sleep products and herbal teas), and Care Well (oral and hygiene products). The first floor showcases key products selected by merchandisers to attract visitors, while the second floor is designed to guide customers naturally through all six categories. The store also features an experience zone where visitors can sample health foods and taste various teas.
Olive Young has been cultivating wellness as a new business line, recognizing the accelerating growth in the wellness market since the COVID-19 pandemic. According to the Global Wellness Institute, Korea's wellness market as a share of GDP grew steadily from 5.7% in 2020 to 6.8% in 2022. Analysis of Olive Young customer purchase data showed wellness segment sales growth of 864% last year, with the number of purchasing customers rising 507%.
"Channels covering the entire wellness sector are currently lacking, and consumer barriers to entry remain high," said Lee Dong-geun, Head of New Growth Retail Business at Olive Young. "Since Olive Young started with the vision of 'healthy beauty,' building on our expertise in growing not just beauty but also health businesses to make consumers' lives healthier is what we do best and what we must do."
Olive Young plans to open a second store near Gangnam Station in the first half of this year and gradually expand Olive Better locations across major commercial districts in Seoul and the metropolitan area. "Through Olive Better, we will take the lead in helping customers find balanced inner and outer beauty and building a healthy ecosystem where brands and the domestic wellness market grow together," a company official said.