Alphabiz - CJ Olive Young Posts Record Sales of KRW 5.83 Trillion in 2024, Up 21.8% YoY

Photo courtesy of Yonhap News

 

[Alpha Biz= Kim Jisun] CJ Olive Young achieved record-breaking performance last year, surpassing KRW 5 trillion in annual sales for the first time.

According to a business report submitted by CJ Corporation to the Financial Supervisory Service on March 18, CJ Olive Young’s standalone revenue reached KRW 5.8335 trillion in 2024, up 21.8% year-over-year. Operating profit rose 22.5% to KRW 744.7 billion.

The company has maintained steady growth in recent years, with revenue increasing from KRW 2 trillion in 2021 to KRW 2.7774 trillion in 2022, KRW 3.8611 trillion in 2023, and KRW 4.7899 trillion in 2024.

CJ Olive Young attributed its strong performance primarily to a surge in demand from foreign tourists. From January to November last year, cumulative purchases by international customers exceeded KRW 1 trillion, with foreign shoppers accounting for approximately 28% of total offline sales on an annual basis.

The company also noted that the advancement of its omnichannel strategy, including the expansion of its “Today Dream” same-day delivery service, contributed significantly to revenue growth.

 

 

 

Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)