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Korean Beauty Retailer Olive Young Eyes $1 Billion IPO

The news comes amid a surge in Korean IPOs, which have raised $21.4 billion this year.

Allure K-beauty edit — Popular K-beauty products from brands including Banila Co., CosRX and Tony Moly. Allure. (Courtesy)

By

Zoe Suen

24 November 2021

The health and beauty chain, also known as CJ Olive Young, is looking to raise $1 billion in a local public offering sources say will take place early 2022, Retail News Asia reports.

Olive Young operates around 1,200 stores in South Korea, in addition to a global distribution platform serving 150 countries it launched in 2019. The business reported operating profits of $84.4 million last year.

The news comes amid a surge in Korean IPOs, which according to Refinitiv data have raised $21.4 billion this year — almost seven times the figure raised in 2020.

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