South Korea’s leading health and beauty retailer has begun selling mobile gift coupons in Vietnam, marking its first overseas expansion of the digital gifting business. CJ Olive Young also plans to sell gift coupons online in Japan and other Southeast Asian markets, insiders told The Korea Herald on Friday.
The company has launched sales through a partnership with M12PLUS, a Vietnamese company specializing in mobile coupon distribution. Olive Young’s coupons launched Friday on M12PLUS’ platform, Giftpop, and on Vietnam's largest online shopping platform, Lazada Vietnam.
Vietnam is one of South Korea’s key inbound tourism markets and has shown strong interest in Korean beauty products. According to the Korea Tourism Organization, Vietnam ranked among the top 10 countries sending visitors to South Korea last year.
Sales to Vietnamese customers at brick-and-mortar Olive Young stores in South Korea rose 260 percent over the past two years, compared with 2023, when pandemic-related travel restrictions were largely lifted, said the beauty retailer.
With K-beauty shopping now a “must-do” item for many foreign nationals visiting South Korea, overseas spending at Olive Young’s offline stores surpassed 1 trillion won ($750 million) last year, the company said.
The retailer expects demand for mobile gift coupons, which function like cash at its stores, to grow among overseas consumers as well. In Vietnam, Olive Young anticipates strong interest from local companies seeking promotional incentives. Airlines and travel agencies frequently bundle destination-specific vouchers or coupons as added benefits in marketing campaigns.
Vietnamese consumers planning trips to South Korea will be able to purchase Olive Young mobile gift coupons before departure, while those with friends or family living in South Korea can send them as gifts, the company said. Olive Young also plans to develop joint promotions with Vietnamese partners and offer tailored benefits for Vietnamese tourists and international students visiting or living in South Korea.
yoohong@heraldcorp.com
