CJOlive Young is set to unveil a large-scale store in Seoul's Shinchon district that recreates a cafe with an 80s and 90s retro vibe. Following the launch of specialized stores tailored to local characteristics in major commercial areas such as Myeong-dong and Seongsu, the company is now emphasizing retro sensibilities in Shinchon. Olive Young continues its offline strategy of varying store concepts by commercial area while expanding store sizes.
According to the retail industry on the 16th, Olive Young will open a new store covering approximately 240 pyeong (about 800 square meters) in the basement of Hyundai Department Store Shinchon's Yulexus in Seodaemun-gu, Seoul, this November. The store concept is 'Shinchon Cafe.' It will be designed as a space infused with retro sensibilities by modernly reinterpreting the atmosphere of Shinchon in the 1980s. The store is scheduled to open alongside the renovation of Yulexus's basement.
Recently, Olive Young has been applying different concepts to each store in major commercial areas. 'Olive YoungN Seongsu,' which opened last year, combined K-beauty products with experiential content reflecting the characteristics of the Seongsu commercial area. The 'Olive Young Beauty Mansion' established in Seongsu is also operated as a space where customers can experience beauty content.
In Myeong-dong, Olive Young is expanding large-scale stores targeting foreign tourists. 'Olive Young Central Myeong-dong Town,' which opened in March this year, spans approximately 950 pyeong (about 3,140 square meters) and features over 1,000 brands and 15,000 products. To enhance shopping convenience for foreign customers, the store has strengthened its product assortment, payment options, and language services.
Some stores also utilize local history and atmosphere. A store near Gwangjang Market combines traditional market elements with retro-style design, while the Anguk Station location reflects the characteristics of Bukchon and Insadong in its store design. In Busan, the expansion of specialized stores continues as well. The 'Olive Young Nam-po Town' in Nam-po-dong has been expanded to a 900-pyeong (about 3,000 square meters) space, and a design-focused specialized store combined with a multi-cultural space was opened in Minrak-dong.
Olive Young's move to expand specialized stores aims to create offline stores that differentiate themselves from online channels. As more consumers purchase cosmetics online, it has become increasingly important for physical stores to offer not only a diverse product lineup but also compelling reasons for customers to visit in person. Olive Young differentiates itself by reflecting the customer demographics and local characteristics of major commercial areas in store design, product composition, services, and other aspects.
Performance is also on an upward trend. Olive Young's sales for the first half of this year reached 3.3349 trillion won, a 24% increase compared to the same period last year. Offline sales in the second quarter rose by 22% year-on-year. Olive Young plans to open or renovate 78 large-scale stores of 100 pyeong (about 330 square meters) or more this year. Among these, 43 will be located outside the capital region.
The expansion of specialized stores involves not only increasing the number of outlets but also enhancing the competitiveness of existing locations. The scope is being broadened to include areas with distinct regional characteristics such as Gwangjang Market, Anguk, and Busan, in addition to commercial districts like Myeong-dong and Seongsu that attract many foreign visitors and young people. The Shinchon Cafe opening in November is also a new store leveraging the unique characteristics of the Shinchon commercial area.
An industry insider stated, "Since major customer groups and visit purposes differ by commercial area, stores are shifting toward adopting concepts suited to each region," adding, "Olive Young is also focusing on creating spaces that reflect local characteristics when opening large-scale stores."
in LIVING
