Market Chatter: CJ Olive Young to Open First US Store With Sephora Partnership; CJ Corp Shares Decline 4%
CJ Corporation's (KRX:001040) beauty subsidiary CJ Olive Young will open its first U.S. store in Pasadena, California, on May 29 and plans four additional locations in the state, in partnership with LVMH-owned Sephora, Bloomberg reported Wednesday.The company will launch Olive Young-curated K-beauty sections featuring around 250 Korean brands across Sephora stores in 35 countries, beginning in August. Olive Young aims to raise the share of overseas revenue to 90% within a decade, up from the current 30%, the report said.Shares of CJ Corporation fell nearly 4% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
