Global luxury companies are also retreating, saying “Can’t win in Korea”… CJ’s core is Olive Young – Maeil Business Newspaper
Global beauty concept store Sephora, part of the world's largest luxury brand group LVMH, is withdrawing from the Korean market in May. Despite opening its first store at Seoul's Parnas Mall with enthusiasm in October 2019, it is leaving without even completing five years. Sephora is the third mega-brand under LVMH in terms of revenue, following Louis Vuitton and Dior, but in Korea, it has faced the obstacle of "Olive Young's dominance".
Source：“한국서 절대 못 이겨” 글로벌 명품 기업도 발빼…CJ 핵심된 올리브영 - 매일경제 | 매일경제
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