The number of big-name retailers’ beauty stores in South Korea declined for the first time in 2020, as more customers turned to online shopping amid the coronavirus pandemic, data showed.
The country’s three major health and beauty chains - Olive Young, Lalavla and LOHB’s - had a combined 1,484 outlets across the nation as of end-December last year, down 31 from a year earlier, according to data posted on the electronic disclosure system of the Financial Supervisory Service.
Retail conglomerate CJ Group runs industry leader Olive Young, with Lotte Shopping and GS Retail operating LOHB’s and Lalavla, respectively.
Lotte Shopping said it estimated the number of health and beauty shops in Asia’s fourth-largest economy based on data posted on their websites and in business reports. (Yonhap)