Latest news with #OliveYoung
Time of India
5 days ago
- Business
- Time of India
Korean beauty startups bet booming US demand outlasts tariff pain
HighlightsSouth Korean cosmetic startups are expanding their physical presence in the United States, leveraging their online success and the appeal of K-culture, despite potential tariffs. The U.S. market is becoming increasingly important for South Korean beauty brands, with Olive Young planning to open its first store in Los Angeles and several brands negotiating with major retailers like Costco and Ulta Beauty for distribution. Social media and viral marketing have significantly boosted the popularity of K-beauty products, with notable growth in online sales, while the long-term success of these brands will depend on their ability to increase physical store sales. Emboldened by roaring online success in the U.S., South Korea's cosmetic startups are expanding their bricks-and-mortar presence in the world's biggest consumer market, confident their mass appeal will offset the hit from tariffs. Brands like Tirtir, d'Alba, Torriden, and Beauty of Joseon are in talks with major retailers to stock their U.S. shelves, company executives have told Reuters. Korean beauty, or " K-beauty ", products are able to compete globally on quality, price and snappy marketing and have benefited greatly from the success of the Asian export giant's other consumer hits, namely its music, film and television. "K-culture - things like PSY in the past, BTS, and then Korean dramas and films like 'Parasite' - those really paved the way," Tirtir CEO An Byung-Jun said. "In the U.S. market, there was already growing interest in South Korea. Then Korean cosmetics entered the scene. The quality was good, but the prices were lower than the existing luxury brands like L'Oreal or Estee Lauder." Tirtir's profile shot up last year following the viral online success of its cushion foundation shades designed for dark skin. The product will be sold at some U.S. stores of Ulta Beauty this summer, An told Reuters, adding it aims to double U.S. sales this year. Retailers in the U.S. from Sephora and Ulta Beauty to Costco and Target are in talks with Korean cosmetics brands to launch sales in their physical stores, according to Reuters' interviews with a dozen people including cosmetics company CEOs, executives and industry experts. They also expect Korean brands to weather tariffs better than rivals thanks to higher margin business models. Many of them outsource production to contract manufacturers like Cosmax and Kolmar, dubbed the Foxconns of fast beauty, to keep costs down. South Korea overtook Germany to become the world's third-largest beauty product exporter after France and the U.S. in 2024. Four fifths of its $13 billion cosmetics output are for exports, which have predominantly been driven by e-commerce sales. Yuliet Mendosa, a 25-year-old visiting Seoul from America, is a fan of K-pop boy band BTS, which led her to greater interest in K-beauty products. "They go straight to the point to fix what you need to fix and your skin," she said at an Olive Young store. CHANGING LANDSCAPE The U.S. push comes at a tricky time for the world's big exporters with President Donald Trump's sweeping tariffs unsettling global trade. But while the levies create uncertainty for Korea's beauty exporters, strong demand is expected to mitigate some of this, executives say. South Korea's dominant beauty retailer Olive Young plans to set up its first U.S. store in Los Angeles as early as this year, Jin Se-hoon, Executive Vice President of the company's global platform business, told Reuters. "The U.S., especially California, has by far the most customers for our global online shopping platform," Jin said. He said Washington's tariffs were a burden but not enough to hurt K-beauty's popularity and value-for-money proposition. Their U.S. expansion, despite tariffs, also seeks to sustain momentum after exports to China, the biggest overseas market for K-beauty, fell due to geopolitical tensions and competition. Skincare brand d'Alba, owned by d'Alba Global and known for its vegan mist serum and sunscreens, is in talks with Costco, Ulta Beauty and Target for retail distribution, the company said. LVMH's cosmetics chain Sephora plans to launch two new Korean brands Torriden and Beauty of Joseon this summer, according to a Sephora spokesperson. Costco, Target and Ulta did not respond to requests for comments. Tirtir's An said the baseline 10% tariff that the U.S. has already imposed is "endurable" although the planned 25% tariff on South Korean products due in July may force the company to raise prices "a little bit." Seoul, a major U.S. ally, is seeking tariff exemptions in trade talks with Washington. The Founders--the maker of Anua skincare products, which hit Ulta Beauty shelves this year--also have more room to absorb higher tariffs than rivals, its strategy team leader Jung Jun-ho said. The company posted an operating profit margin of over 30% last year. NICHE BRANDS South Korea replaced France as the biggest cosmetics exporter to the U.S. in 2024, according to official data, driven by online sales through Amazon. The top five Korean cosmetics brands in U.S. e-commerce--which include Beauty of Joseon, Medicube and Biodance--saw online sales grow 71% on average over the past two years, outperforming the overall U.S. market's 21% growth, according to Euromonitor data. The top five French brands--which include L'Oreal Paris, Dior and Lancome--posted 15% growth over that period. Social media has played a big part in Korea's success. "Nowadays a single viral TikTok video or influencer endorsement can turn a product into a global bestseller before it even launches outside Korea," said South Korea-based beauty marketer Odile Monod. But longer-term success will require increased physical store sales, said Jason Kim, CEO of cosmetics distributor Silicon2. There are already signs of growth plateauing for some companies, such as startup COSRX, now part of Korean cosmetics giant AmorePacific, as competition heats up and cheaper alternatives emerge, analysts said. For now, investors remain upbeat about Korean potential, with shares of d'Alba Global more than doubling since their debut last month. "The K-beauty trend is strong," Silicon2's Kim said. "But indie brands will face challenges too."
Yahoo
6 days ago
- Business
- Yahoo
The BTS effect: K-beauty brands target US despite tariffs
STORY: First it was BTS and other K-pop megastars conquering the U.S. market. Now South Korea's K-beauty brands want to repeat the trick. The country's cosmetics firms are planning a big push into the U.S., and they're undeterred by tariffs. Beauty brand Tirtir will be one of the first, after its foundation for dark skin tones became a viral sensation. Its products will be sold at some U.S. stores from this summer. Company Chief Executive An Byung-jun has no doubt what made the move possible: 'K-culture: things like Psy in the past, BTS, and then Korean dramas and films like 'Parasite'. Those really paved the way.' Also heading stateside is South Korea's dominant beauty retailer, Olive Young, which plans to open its first U.S. store as early as this year. So too is d'Alba Global - known for its vegan serums and tone-up sunscreens. It's talking to Costco, Target and other retailers, and company overseas business director Myeong Jae-hoon says the rush of new brands to the U.S. will make marketing vital: 'Since many K-beauty brands are entering the market around the same time, it's going to be even more important for each brand to clearly differentiate itself. Without establishing a strong brand identity, it could become difficult to stay competitive — that's how I see it.' Demand is already booming for South Korea's top five cosmetics brands, with U.S. online sales rising at an annualized average of 71% over the past two years. But the Korean firms can't escape Donald Trump's tariffs on the country's goods - currently 10%, but set to rise to 25% if there's no trade deal. Tirtir says it will have to raise prices if the higher rate kicks in, but it's still aiming to double its U.S. sales this year. Tariffs or no tariffs, American consumers are about to get the K-beauty treatment. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
6 days ago
- Business
- Yahoo
The BTS effect: K-beauty brands target US despite tariffs
STORY: First it was BTS and other K-pop megastars conquering the U.S. market. Now South Korea's K-beauty brands want to repeat the trick. The country's cosmetics firms are planning a big push into the U.S., and they're undeterred by tariffs. Beauty brand Tirtir will be one of the first, after its foundation for dark skin tones became a viral sensation. Its products will be sold at some U.S. stores from this summer. Company Chief Executive An Byung-jun has no doubt what made the move possible: 'K-culture: things like Psy in the past, BTS, and then Korean dramas and films like 'Parasite'. Those really paved the way.' Also heading stateside is South Korea's dominant beauty retailer, Olive Young, which plans to open its first U.S. store as early as this year. So too is d'Alba Global - known for its vegan serums and tone-up sunscreens. It's talking to Costco, Target and other retailers, and company overseas business director Myeong Jae-hoon says the rush of new brands to the U.S. will make marketing vital: 'Since many K-beauty brands are entering the market around the same time, it's going to be even more important for each brand to clearly differentiate itself. Without establishing a strong brand identity, it could become difficult to stay competitive — that's how I see it.' Demand is already booming for South Korea's top five cosmetics brands, with U.S. online sales rising at an annualized average of 71% over the past two years. But the Korean firms can't escape Donald Trump's tariffs on the country's goods - currently 10%, but set to rise to 25% if there's no trade deal. Tirtir says it will have to raise prices if the higher rate kicks in, but it's still aiming to double its U.S. sales this year. Tariffs or no tariffs, American consumers are about to get the K-beauty treatment. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Korea Herald
21-05-2025
- Business
- Korea Herald
Olive Young kicks off largest-ever K-beauty festival in Seoul
CJ Olive Young kicked off its largest-ever beauty and wellness festival, 2025 Olive Young Festa, with a media event on Wednesday at Nodeul Island in Yongsan-gu, Seoul. Held outdoors at a site along the Han River spanning 11,570 square meters, the attendance for this year is expected to reach 30,000 visitors, nearly double that of previous years. 'This year's Festa expands beyond award-winning names to highlight rising and indie brands, helping more promising players connect with customers,' said Lee Eun-jeong, head of Olive Young's Brand Creative Center. 'We've brought together our know-how since 2019 to create a differentiated experience that promotes K-beauty as a cultural movement. It's both a festival for our 16 million Olive Members and a milestone for K-beauty's present and future.' Themed 'Treasure Island,' the five-day festival invites visitors to discover the unique strengths of each participating brand through an immersive, interactive experience. A record 108 beauty and health brands are featured across 84 booths, offering visitors hands-on access to both bestsellers and emerging names in Korean beauty. The festival is organized into five main zones, Skincare, Makeup, Personal Care, Healthy Lifestyle and Luxe Edit, covering a wide range of categories from cosmetics to wellness. At daily seminar sessions titled 'Beauty & Health Deep Dive,' Olive Young partner brands engage directly with the audience to offer in-depth product insights and share brand stories. More than just a public event, the Festa also serves as a networking and business platform for the K-beauty industry. Key stakeholders are invited to foster domestic and global market connections, including small and medium-sized brands, manufacturers, consumers and international buyers. A special co-growth program, Future Connect, will also run during the festival, where some 200 brand representatives will attend sessions that cover export logistics, compliance with international regulations, and analysis of global K-beauty trends. Olive Young has also invited around 400 representatives from major global retail platforms, including those from the US, Japan, Hong Kong and Southeast Asia, offering them firsthand experience of K-beauty innovation and potential partnerships. 'Since its launch in 2019 with just 50 brands, Olive Young Festa has more than doubled in size and continues to evolve with customers,' CJ Olive Young Communication Officer Lee Sang-ju said at the event. 'The Festa reflects our commitment to supporting Korean beauty brands as they grow at home and expand globally.' hykim@
Korea Herald
10-05-2025
- Business
- Korea Herald
VEGAN K-BEAUTY SUN CARE FOR SENSITIVE SKIN -- NOW 25% OFF ON AMAZON
SEOUL, South Korea, May 10, 2025 /PRNewswire/ -- BRING GREEN, the vegan K-beauty skincare brand from CJ Olive Young, South Korea's largest beauty retailer, is launching its Tea Tree Cica sun care line in the U.S. market via Amazon this May. The new products include the Tea Tree Cica Facial Sun Cushion and Tea Tree Cica Sun Cream, both featuring a lightweight formula tailored for sensitive skin. BRING GREEN's sun care line features gentle yet effective soothing ingredients like tea tree and centella asiatica (cica), designed to soothe sensitive skin while delivering SPF 50 broad-spectrum protection. The products come in a refreshing mint green tint to help visibly tone down redness and even out skin tone. Launch Products: Both products will be available on Amazon starting May 9, with a special Mother's Day promotion offering 25% off from May 9–13 (PST). BRING GREEN's tea tree and cica are cultivated at the Jeju Plant Resource Institute in Korea, backed by 25 years of expertise. The ingredients are known to be five times more hydrating and soothing than conventional sources, thanks to the island's rich mineral soil. Already a cult favorite in Korea, the Sun Cushion is especially popular for its buildable, non-patchy texture that allows easy touch-ups throughout the day—without disrupting makeup or leaving white cast. The products are EVE VEGAN certified, aligning with BRING GREEN's commitment to cruelty-free and animal-free beauty. "We're excited to introduce our gentle, high-performance sun care to North American customers just in time for summer," said Gina Kim, Marketing Manager at BRING GREEN. "These products deliver more than just UV protection—they help soothe sensitive skin, offer convenience, and come at an affordable price point. We believe they'll be a hit among conscious beauty lovers." BRING GREEN is well known for its bestselling Tea Tree Soothing Toner, Cleansing Foam, and Zinc Teca Blemish Serum, the latter recently featured by a U.S. beauty magazine as a "Best for Sensitive Skin" pick. The Tea Tree Cica Trouble Cleansing Foam also received top marks in recent consumer surveys in Korea for its clean ingredient list, gentle cleansing power, and brightening effects. About CJ Olive Young CJ Olive Young, established in 1999, is South Korea's leading beauty and health retailer. Our brand name, "Olive Young," embodies the philosophy of "All Live Young," reflecting our vision for everyone to live a healthy and beautiful life at all times. Through its flagship store, "Olive Young," it offers trendy and radiant K-beauty products to customers worldwide. With over 1,370 stores, more than 20 years of expertise, data-driven insights, and strong partnerships, Olive Young curates a distinguished selection of K-beauty and wellness products. As a subsidiary of CJ Group, a global lifestyle company, CJ Olive Young continues to lead the industry by delivering the value of healthy beauty to customers worldwide. For more information, visit
