Free Subscription

  • Access 15 free news articles each month


Try one month for $4
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • 10% discount on events

CJ Corp unveils plans to open Olive Young up for public investment

An Olive Young store in downtown Seoul.
An Olive Young store in downtown Seoul. (Source: Robert Stockdill)

South Korean health-and-beauty business Olive Young is gearing up for an IPO next year, with the aim to list on the stock market in 2022.

The business’ owner CJ Corp is currently recruiting for pre-IPO funders, and is looking to sell around 20 to 30 per cent of the owner family’s stake before it goes public, although CJ Group will not sell any of the 55 per cent stake it holds.

Olive Young CEO Koo Chang-geun said the pre-IPO sale would not impact CJ Group’s management rights, and that the move would allow the business to pursue growth opportunities into the future.

According to Korean Investor, Shinhan Investment and Credit Suisse have been listed as joint advisors to the sale, and while there is some chatter that the business could be sold off as a whole, it is more likely that the IPO will be used to secure further funding to boost enterprise value.

The business has long been one of South Korea’s largest beauty firms, seeing operating income grow 81 per cent to US$74 million after $1.65 billion in sales last year.

You have 7 free articles.