Olive Young Awards Festa : The Best of K-beauty in 2022
The best in K-beauty 2022 has been presented at Olive Young Awards Festa at DDP. This event, which started in 2019, mainly consists of hands-on samples and giveaways. It is scheduled to be held for five days from this day, and more than 20,000 visitors have made reservations in advance. On the 25th of last month, tickets were sold out in just 90 seconds.
What is Olive Young Awards Festa?
Olive Young Awards Festa is an annual awards ceremony that recognizes and celebrates outstanding brands in the fields of beauty, health, and wellness in South Korea. The awards ceremony is organized by Olive Young, a leading South Korean chain of health and beauty retail stores.
Olive Young Awards & Festa converts the Olive Young Awards, which settle the trend of the year based on more than 110 million purchase data per year. It is not a product sale, but a venue for promotion in which partners communicate with customers and promote brand and product competitiveness. In total, 97 brands participated in the event. Half of these brands are up-and-coming companies that have only been around for three years or less.
Which brands stood out at Olive Young Awards Festa?
This year’s Olive Young Awards Festa consisted of 530 sq feet of space under the theme of “Santa’s Village, with a Christmas, and Nordic Forest vibe. A variety of trends could be experienced including the Olive Young Awards winning product hall where you can see 128 awards this year at a glance, as well as the Skin Care Zone, Makeup Zone, Personal Care Zone, Health Care Zone and Premium Zone.
Olive Young’s product planner (MD) says that, thanks to Olive Young’s efforts in expanding the diversity of the Korean cosmetics market, small and medium-sized brands were able to be acquired by several global cosmetics companies. This has led to growth in products such as color cosmetics.
Rom&nd ranked first in the lip makeup category and AMUSE, which entered in September last year, saw its sales grow eight times compared to the same period last year until November, clearly proving this year’s vegan beauty trend.
In skincare, brands like “Round Lab,” which dominated the skin/toner and sun care sectors, Mediheal, Hanyul, Manyo and Dr G were amongst the best sellers of 2022.
This year, premium brands like Clinique, Urban Decay and Moroccan Oil were in attendance. These brands usually available in department store are paying more attention to Olive Young’s demographic to reach out to customers in the MZ generation.
In health products, Foodology, a health functional food brand that ranked first for its slimming category less than a year after entering showed how an emerging brand can achieve growth. “The key is to improve customer trust and access to products by collaborating with Olive Young” who first recognized its product power said Park Jung-ha, CEO of Foodology.
Thanks to the choice and growth of our partners’ excellent products, we were able to create new trends such as vegan beauty and W-care this year,” an Olive Young official said. The driving force behind Olive Young’s establishment as a reliable platform and securing 12 million MZ generation loyal customers is product competitiveness.
Olive Young Awards Festa is a great opportunity to learn what customers want in the beauty industry. Customers will be able to find new brands and brands can receive feedback and improve their global status.
Olive Young’s will keep expanding the Korean beauty market by supporting domestic SMEs grow.