South Korea's largest beauty retailer CJ Olive Young said Wednesday the company will reduce the price of over 10,000 products by up to 70 percent for a week from Friday.
The company has opened doors for the nation's smaller cosmetic makers. Olive Young plans to offer large discounts on numerous Korean beauty products, with medium-sized brands making up 80 percent of them. In June, cosmetic products from small and medium-sized enterprises ranked first to tenth in sales.
During the event period, Olive Young will select certain products from various brands each day and offer an extra discount on them both in stores and online. The company will also encourage customers to explore new products and brands that align with seasonal makeup trends.
Olive Young is set to cut the price of almost 5,000 color cosmetic products in response to the growing demand in early fall. Discounts will be offered on face highlighters and powder, lip pencils and oils for customers who enjoy making themselves stand out.
Along with the domestic event, the company also plans to hold a global sales event, dubbed Big Bang Sale. Olive Young’s global website exports K-beauty products to almost 150 countries all around the world. Overseas customers will be able to purchase the products of major K-beauty brands such as Skin1004, Torriden, Clio and Roundlab at lower prices.
“We aim to help our customers follow the make-up trends of this fall. We hope they can have the chance to see both the latest trends of K-beauty and the potential of Korean indie cosmetic brands,” said an Olive Young official.
